The university says in a news release that the donation from Ripple will provide USD 400,000 each year for five years.
A Silicon Valley company has donated USD 2 million to the University of Kansas to support research related to cryptocurrency and digital payments, such as Bitcoin.
The university says in a news release that the donation from Ripple will provide USD 400,000 each year for five years. It will go to the Information and Telecommunication Technology Center at the Kansas School of Engineering.
The university will determine its own research topics and Ripple, which provides digital commerce services, will collaborate with students and faculty and provide technical resources and expertise.
The gift also will support the KU Blockchain Institute, a student-led organisation that promotes the use of blockchain technology. The blockchain is a digital record that is often used to track the use of cryptocurrency or digital money.