Trinity College Dublin has become the first Irish institution to partner with the Ripple University Blockchain Research Initiative.
According to the Irish Independent, Trinity College will establish a blockchain research initiative at the university’s Adapt Research Ireland Center to work to advance blockchain technology, address the cybersecurity challenges of cryptocurrencies and develop innovative fintech solutions.
As part of the collaboration, the university will receive $200,000 in funding over a two-year period and will also host an XRPL validator, a node that verifies transactions on Ripple’s blockchain network, allowing Trinity researchers to take in charge of its decentralized infrastructure.
The initiative will enable “students and staff to research and develop solutions to real-world challenges,” said Hitesh Tewari, a professor in Trinity’s School of Computer Science and Statistics, who will lead the project.
One such project that will be researched and developed under the UBRI program is a decentralized social media platform designed to operate without a central authority, providing users with greater privacy and control over their data. However, specific details of the project have not been disclosed.
Trinity College will also help promote blockchain adoption locally through educational programs and workshops.
Commenting on the development, Lauren Weymouth, Senior Director of Academic Partnerships at Ripple, highlighted Ireland’s position as a “leading hub for the advancement of blockchain and cryptocurrency”, adding that the collaboration with Trinity College aligns with Ripple’s mission to foster cutting-edge advancements in blockchain. industry.
Launched in 2018 with an initial commitment of $50 million, Ripple’s UBRI partners with leading universities around the world to support academic research, technical development, and innovation in blockchain, crypto, digital currencies and payments.
Over the past five years, UBRI has partnered with more than 50 universities in twenty-six countries.
Last year, the University of Toronto, Canada’s largest university, joined the program and became an XRPL validator, working on advancements in payment processing technology.
