Ripple Organizes Blockchain Research Event At University

Midhat Ali Shaikh by Midhat Ali Shaikh - 02:12 PM Oct 09, 2019

Recently, Ripple hosted a blockchain research event at the University of California. The event comprises about 200 developers, researchers, and graduates. The event named as University Blockchain Research Initiative, UBRI Connect 2019. Ripple's chief conference event based on blockchain and cryptocurrencies, hosted with a team-up of Berkeley.

A research event invited more than 40 schools that belong to various countries in order to talk through blockchain and crypto. UBRI Connect also offered a chance to Spring and RippleNet to declare chief updates and breakthroughs.

Head of social influence at Ripple, Ken Weber told a source:

“UBRI Connect is an academic-focused gathering that allows Xpring and RippleNet an opportunity to tell their stories. For instance, Xpring saw this conference as a chance to announce support for developers with tools and funding for the most promising ideas."

A Deep Inspection of UBRI 

Currently, Ripple's UBRI program has 34 university partners across the world, as stated by Weber. Most of them are US-based. Many of the universities have carried out blockchain research. Via UBRI, Ripple intends to enhance the research to bring modernization and advancement to the blockchain and crypto industry.

Weber also emphasized the UBRI is quite distinct from the allied- sponsored research. UBRI prefers making a partnership with faculty and university departments that are involved in blockchain technology. As a result, Ripple can make funds unrestricted by enabling academics to work on the most interesting issue to them.

“We haven’t gone to our UBRI university partners telling them what products and technical issues we need solutions for. We’ve decided that funding is unrestricted and is entirely philanthropic", Weber explained.

Though, UBRI does not dictate how to manage the funds, organizers of the program think the university partners are keenly looking into what activities does Ripple has currently. As per the Weber, UBRI has a series of topics for research. So that anyone in the network can approach in order to pick out the topics to collaborate or work on.

Via UBRI program, Ripple funds the universities. Half the amount of $50 million from UBRI fundings has been given to engineering schools and the remaining half of the amount has gone to business and law schools. Further, Weber said:

"The objective here is less about development for Ripple, but rather to help build the blockchain and crypto ecosystem."

Keeping Pace with advancement is Challenging 

UBRI Connect 2019, also offered a platform to Spring and RippleNet to discuss the ongoing advancements with XRP.

During the event, Ripple's major tech officer, David Schwartz defined:

“Ripple is building a global payments network for financial institutions powered by XRP, whereas Xpring is building a global payments network for developers powered by XRP."

Even though Ripple's Spring and RipleNet pay attention to different areas, yet they are relevant. Spring's senior vice president, Ethen Beard said while his speech at UBRI:

“We think building the Internet of Value is akin to building the internet.”

Ripple's vice president, Doug Purdy, during his presentation at UBRI Connect said:

“The goal with everything we are doing here is how we can make it possible for the 23 million app developers to put money at the center of their applications. We believe that XRP is the most important, most effective means to bridge between boundaries that we see geographically and from a monetary perspective.”

Yet, even after all the success of UBRI, Weber reported, It is challenging to maintain the speed to meet the level of student demand as the program keeps on advancing.

"The challenge now is to fulfill the expectation for collaboration. And to keep open the program to universities, grade students, interns, and faculty."

About The Author
Midhat Ali Shaikh

Midhat Ali ShaikhMidhat ali shaikh is a freelance content writer and is involved with renowned organization named knovatek pvt. ltd. also serving for vmatchu and nghostings


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