The developer of Cardano blockchain, Input Output Global (IOG) has announced the funding of a $4.5 million blockchain research hub at Stanford University.
The funding will be provided over the course of three years. The funding applications will be available to faculty, undergraduate and graduate students. The proposal deadline is set for November 2022.
Tim Harrison, vice president of Community and Ecosystem at IOG said that the firm has been collaborating with Stanford for some time.
He said, “Before the research hub, we previously donated $500,000 to fund their research into blockchain scalability. As one of the world’s leading academic institutions, Stanford is an ideal location for the hub.”
Harrison further said that the aim of the project is to fund researchers from multidisciplinary backgrounds. He further said that researchers at the university will be able to put forward innovative projects that will impact the blockchain industry.
Moreover, CEO Charles Hoskinson said that 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.”