IOHK Provides $500000 Donation To UW’s Blockchain Lab
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IOHK Provides $500000 Donation To UW’s Blockchain Lab

February 15, 2020      Shailesh Panwar

On 14 February, the company behind Cardano, IOHK declared to spend about $500,000 to develop and support Blockchain R&D Lab of University of Wyoming(UW). Mike Borowczak(Assistant Professor), James Caldwell(Professor) and Philip Schlump would jointly direct the Advanced Blockchain R&D Lab.

Aim Of The Donation

In a report, Professor Borowczak stated that donation from IOHK would assist graduate students and faculty in practical applications for developing use cases for real-world blockchain. 

He said:

“The aim of this contribution is to directly develop and stimulate an efficient workforce in the area of blockchain. Student researchers from graduate and undergraduate levels are the focal point of this initiative. Our research and development lab concentrates on training all work in theory while generating real-world products.”

Also, the professor cited that Blockchain R&D lab of the University of Wyoming would jointly work with IOHK, remarking that the team would be operating together with Hoskinson and other members on the research team of IOHK. 

He explained that they were sending students so that they could visit the University of Edinburgh’s Blockchain Lab, which acts as the global headquarters for several university alliances of IOHK. The professor added that the system should operate properly, as IOHK has been in a highly advanced stage blockchain, and their aims and research model perfectly match with the academic Computer Science Department.”

Why Wyoming Is Leading In Blockchain

This remarkable donation from IOHK to the University of Wyoming also exhibited Wyoming’s potential as one of the most accepting and leading regions for blockchain development across the globe.

In January 2019, the university passed two house bills to build a regulatory framework to promote innovation in blockchain and cryptocurrency. Coming to this, the task force of Wyoming drafted a bill which defined cryptocurrencies as legal forms of money. Lately, Wyoming formed several rules for “blockchain banks,” which directed features focused on cryptocurrencies like forks, staking and airdrops.

Wyoming Blockchain Task Force prior member, Caitlin Long, mentioned that contribution from IOHK would not only aid advance university research but totally, would also be beneficial for the state of Wyoming. She cited:

“The $500,000 contribution of IOHK, in ADA, Cardano’s native digital currency, will not only supply research for in real-world uses of blockchain but will also allow Wyoming emerge as a talent hub for software engineers which are trained in highly-advanced methods of software development across the globe.”

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Shailesh Panwar
Shailesh Panwar

Shailesh is an ardent follower of the crypto world and keenly watches every development taking place in the cryptocurrency space. He loves to voice his opinions through well-curated blogs and articles, which throw light on different facets of the crypto industry.