Widely followed cryptocurrency start-up Ripple is shelling out millions to some top universities to speed up adoption of blockchain technology.
The company announced a partnership with 17 schools Monday, including the University of North Carolina, MIT and the University of Pennsylvania. Through the "University Blockchain Research Initiative" program, Ripple will donate $50 million for research and development in blockchain, cryptocurrency and digital payments.
"As globalization increases, so does the demand for technological solutions and talent to solve the world's hardest financial problems, such as retail remittances," Eric van Miltenburg, Ripple's SVP of business operations, said in an email.
The company said the initiative was launched in part because of a demand for jobs. More than 4,500 job openings with the terms "blockchain" or "cryptocurrency" were posted on LinkedIn last year, Ripple said, a 150 percent increase from a year earlier.
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