IOHK Donates $500,000 To University of Wyoming’s Blockchain Research Lab

IOHK announced a donation of $500,000 in Cardano (ADA) to support and develop the University of Wyoming’s (UW) Blockchain Research and Development Lab.

On Feb. 14 the announcement was made by IOHK, the software company behind Cardano that the Advanced Blockchain Research and Development Lab will be co-directed by:-

  1. Professor James Caldwell

  2. Assistant Professor Mike Borowczak

  3. Philip Schlump


And big things deserve a big congratulations! The Cardano Foundation would like to thank you and others, for your continued efforts to help making this happen. #Cardano #Blockchain #donation $ada #IOHK https://t.co/is2r4bZmqU — Cardano Foundation (@CardanoStiftung) February 15, 2020

Professor Borowczak said that that IOHK’s donation will be used to support faculty and graduate students in developing practical applications for real-world blockchain use cases:

“This funding is meant to directly stimulate and develop a highly qualified workforce in the blockchain sector. Student researchers from undergraduate and graduate levels are at the core of this initiative. Our research and development lab focuses on grounding all work in theory, while developing real-world products.”

IOHK was founded by Ethereum co-founder Charles Hoskinson and built around principles of peer-reviewed academic research. The company is committed to open-source software development, such as hardware for cryptography, authentication, and measures against counterfeiting.

According to Professor Caldwell, IOHK’s donation will specifically help with researching practical applications of blockchain, such as supply chain management, tracking the provenance of goods and the advancement of smart contracts:

“Our group of researchers will work on a number of projects related to advanced smart-contract development, hardware design and verification for cryptographically secure authentication devices.”

He adds:

“We expect to send students to visit the Blockchain Technology Laboratory at the University of Edinburgh, which serves as the global headquarters for IOHK’s various university collaborations. This arrangement should work well, since IOHK is at the cutting edge of blockchain technology, and their research model and goals fit perfectly with an academic Computer Science Department.”

Professor Borowczak pointed out that while UW has been offering blockchain-related courses since Jan. 2018, the university has only been able to support students on an educational level. The funding from IOHK will finally allow this to evolve:

“Our students now have the opportunity to help define, develop, and improve the future landscape of blockchain technology. There are many research funding opportunities developing in the blockchain space – the difficulty is finding mutually beneficial partnerships that enable, balance, and respect academic research, student development, and the need for industry return on investment. This partnership leverages the strength, capabilities, and needs of our students, researchers, and IOHK partners.”

Caitlin Long, a former member of the Wyoming Blockchain Task Force, mentions that IOHK’s donation will not only help advance university research but will also benefit the state of Wyoming as a whole:

“IOHK’s $500,000 donation, in the native Cardano cryptocurrency, ADA, will not just fund research into real-world uses of blockchain technology, but will also develop Wyoming further as a talent hub for software engineers, trained in the most advanced software development methods in the world.”

IOHK Founder, Charles Hoskinson, also commented that Wyoming’s supportive business environment and positive attitude towards blockchain was another reason for investing in UW:

“The Wyoming Blockchain Taskforce’s supportive business environment and the excellence of the University of Wyoming’s science research is what led IOHK to choose to invest here. We are incorporated here as a business and are very happy to play a small part in helping embed Wyoming’s position at the global heart of blockchain-based innovation.”

Source: Cointelegraph.com

#CharlesHoskinson #newbalance #IOHK #wyomingblockchaintaskforce #blockchainresearch #cardano #ethereum #universityofwyoming #cardanofoundation

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