IOHK Donates $500,000 to University of Wyoming's Blockchain Lab

Published on by Cointele | Published on

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IOHK, the software company behind Cardano, announced on Feb. 14 a donation of $500,000 in Cardano to support and develop the University of Wyoming's Blockchain Research and Development Lab.Professor James Caldwell, Assistant Professor Mike Borowczak and Philip Schlump will co-direct the Advanced Blockchain Research and Development Lab.Professor Borowczak told Cointelegprah that IOHK's donation will be used to support faculty and graduate students in developing practical applications for real-world blockchain use cases.

"This funding is meant to directly stimulate and develop a highly qualified workforce in the blockchain sector. Student researchers from undergraduate and graduate levels are at the core of this initiative. Our research and development lab focuses on grounding all work in theory, while developing real-world products."

Professor Caldwell also mentioned that UW's Blockchain R&D lab will operate in partnership with IOHK, noting that the team will be working closely with Hoskinson and others on the IOHK research team.

"We expect to send students to visit the Blockchain Technology Laboratory at the University of Edinburgh, which serves as the global headquarters for IOHK's various university collaborations. This arrangement should work well, since IOHK is at the cutting edge of blockchain technology, and their research model and goals fit perfectly with an academic Computer Science Department."

"Our students now have the opportunity to help define, develop, and improve the future landscape of blockchain technology. There are many research funding opportunities developing in the blockchain space - the difficulty is finding mutually beneficial partnerships that enable, balance, and respect academic research, student development, and the need for industry return on investment. This partnership leverages the strength, capabilities, and needs of our students, researchers, and IOHK partners."

IOHK's impressive donation to UW also exhibits Wyoming's potential as one of the leading and most accepting regions in the world for blockchain development.

In Jan. 2019, Wyoming passed two house bills to create a regulatory framework to foster cryptocurrency and blockchain innovation.

Caitlin Long, a former member of the Wyoming Blockchain Task Force, mentioned that IOHK's donation will not only help advance university research, but will also benefit the state of Wyoming as a whole.

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

"The Wyoming Blockchain Taskforce's supportive business environment and the excellence of the University of Wyoming's science research is what led IOHK to choose to invest here. We are incorporated here as a business and are very happy to play a small part in helping embed Wyoming's position at the global heart of blockchain-based innovation."