Input Output Global (IOG), the blockchain company behind Cardano (ADA), has reinforced its comittment to focus on fervent academic research by collaborating with one of the leading Universities in the world. The blockchain company has just invested $4.5 million to build a full fleged blockchain research hub at Stanford University.
On August 30, IOG announced its partnership with Stanford University investing $4.5 million over the course of next three years to build a research centre that will focus on delivering innovative projects to advance the blockchain space. In the recent times, IOG has attracted much attention in the academic sphere around the globe. The Cardano (ADA) builder has opened research labs and collaboration projects with the University of Edinburgh, University of Wyoming, University of Athens and Tokyo Institute of Technology.
Input Output Global is proud to announce its partnership with the prestigious @Stanford University to fund new research in #blockchain technologies.
Read about this new partnership here👇 https://t.co/yTEJo2AVdl
— Input Output (@InputOutputHK) August 30, 2022
What will the Research Hub Entail?
According to the official blog post, the ‘Stanford IOG Research Hub’, will open next month allowing fundamental development in the blockchain space. The research centre will increase the blockchain industry’s collation of scientific knowledge adopting a multidisciplinary approach and provide researchers with the opportunity to collaborate with the blockchain industry.
A steering committee will be set up to oversee of the research hub including launching of proposals, reviewing the submitted proposals, deciding on the proposals eligible for funding and foster a seamless and hub for blockchain development. The first call for proposals will open in September 2022, and the deadline for proposals is set for November 2022. The committee chair, Professor David Tse, said
“I am grateful for this support. The Research Hub will be a significant boost to enhance the interest in both fundamental and applied blockchain research at Stanford.”
The new Research Hub Alligns with the Vision of IOG
After the announcement, Vice president of Community and Ecosystem at IOG, Tim Harrison, stated that IOG and Stanford have worked together in the past. Last December, Input Output donated $500,000 to the university in order to fund research into ‘Verifiable Digital Fountains’, a scaling solution that makes it possible to handle large transaction volumes with limited connectivity.
CEO Charles Hoskinson added that working with leading Universities like Stanford to set up blockchain research hubs aligns with the vision of IOG. In a statement, he explained,
“With the Research Hub, blockchain development can grow even faster, based on the new learnings that will emerge, and the hub will add a new layer of validity to our sector that we haven’t always been afforded.”