IOHK donates $ 500,000 to the Blockchain Lab of the University of Wyoming

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IOHK, the software company behind Cardano, announced a $ 500,000 donation in Cardano (ADA) on February 14 to support and develop the Blockchain Research and Development Lab of the University of Wyoming (UW).

Professor James Caldwell, assistant professor Mike Borowczak and Philip Schlump will jointly lead the Advanced Blockchain Research and Development Lab.

Professor Borowczak told Cointelegprah that the IOHK donation will be used to support faculty students and graduates in developing practical applications for blockchain practical applications. He said:

“This financing is intended to directly stimulate and develop a highly qualified workforce in the blockchain sector. Student researchers at bachelor and university level form the core of this initiative. Our research and development lab focuses on supporting all the work in theory, while we develop products from the real world. "

IOHK, founded by Ethereum co-founder, Charles Hoskinson, is based on principles of peer-reviewed scientific research. The company strives for open-source software development, such as hardware for cryptography, authentication and measures against counterfeiting. For example, New Balance uses the Cardano blockchain from IOHK to authenticate its products for consumers.

According to Professor Caldwell, the IOHK donation will specifically help investigate practical applications of blockchain, such as supply chain management, tracking the origin of goods and promoting smart contracts. He said:

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

Professor Caldwell also said UW's Blockchain R&D lab will collaborate with IOHK, and notes that the team will work closely with Hoskinson and others in the IOHK research team. He explained:

“We expect to send students to the Blockchain Technology Laboratory at the University of Edinburgh, which serves as the global headquarters for the various IOHK university collaborations. This scheme should work well because IOHK plays a pioneering role in blockchain technology and their research model and goals fit perfectly with an academic IT department. "

Professor Borowczak also pointed out that although UW has been offering blockchain-related courses since January 2018 ("Rock The Blockchain Vote" is the first), the university has only been able to support students at the educational level. With the financing of IOHK, this will finally evolve. He said:

“Our students now have the opportunity to help define, develop and improve the future landscape of blockchain technology. There are many opportunities for research funding in the blockchain space – the difficulty is finding mutually beneficial partnerships that make academic research, student development possible, balance and respect, and the need for investment in the industry. This collaboration uses the power, possibilities and needs of our students, researchers and IOHK partners. "

Another reason why Wyoming leads the way in blockchain

The impressive donation from IOHK to UW also shows the potential of Wyoming as one of the world's leading and most acceptable regions for blockchain development.

Wyoming adopted two house accounts in January 2019 to create a regulatory framework to promote cryptocurrency and blockchain innovation. After this, the Wyoming Task Force drafted a bill to define digital currency as legal forms of money. Recently, Wyoming has developed a set of rules for "blockchain banks" that focus on cryptocurrency-oriented functions such as forks, airdrops and stakes.

Caitlin Long, a former member of the Blockchain Task Force of Wyoming, said the donation from IOHK will not only help promote university research, but will also benefit the state of Wyoming as a whole. She said:

“IOHK & # 39; s $ 500,000 donation in the native Cardano cryptocurrency, ADA, will not only fund research into real-world use of blockchain technology, but will also further develop Wyoming as a talent hub for software engineers trained in the most advanced software development methods in the world. "

IOHK founder Charles Hoskinson also noted that Wyoming's supportive business environment and positive attitude toward blockchain was another reason to invest in UW. He said:

"The supportive business environment of the Wyoming Blockchain Taskforce and the excellence of scientific research at the University of Wyoming have prompted IOHK to invest here. We have been incorporated here as a company and are very happy to play a small role in the to help anchor Wyoming's position in the global heart of blockchain-based innovation. "

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Don Bradman

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