The blockchain developer has previously begun collaborating with universities in Athens, Edinburgh, Wyoming, and Tokyo

Cardano to open research hub at Stanford University

30.08.2022 - 13:35

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2 min

What’s new? Input Output Global (IOG), the company that developed the Cardano network, has funded a $4,5 million blockchain technology research hub at Stanford University, CoinDesk writes. IOG vice president of Community and Ecosystem Tim Harrison said the company has been working with Stanford for some time, and previously donated $500 000 to its blockchain scalability research. Harrison called the university “one of the world's leading academic institutions,” which is “the ideal location for the hub.”

CoinDesk material

What does the publication report? When asked whether the new IOG-backed blockchain hub will promote the Cardano ecosystem or the Haskell programming language used to create smart contracts on the network, Harrison said the project aims to fund researchers from different fields.

According to Cardano founder Charles Hoskinson, collaborating with universities such as Stanford to create blockchain research centers is key to the IOG concept. Healthy competition is a vital part of any growing industry, he said, especially in the early stages of its development when everyone has a role to play. University researchers will be able to put forward innovative projects that will impact the blockchain industry, Hoskinson added.

In addition to Stanford, IOG has begun collaborative projects with the University of Edinburgh, the University of Athens, the University of Wyoming, and the Tokyo Institute of Technology. Last year, Hoskinson donated $20 million to Carnegie Mellon University to establish the Center for Formal Mathematics.

According to a 2022 report by marketing firm MBLM, Cardano became the most recognizable crypto project, ranking 26th among 600 surveyed brands from 19 fields in a global ranking and beating bitcoin by 4 points.

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