By
Steve Muchoki
April 23rd, 2024
Thanks to the latest partnership, university researchers would be able to present ground-breaking studies that will have an impact on the blockchain sector.
Input Output Global (IOG), builder of the Cardano Blockchain, has invested $4.5 million in a blockchain hub at Stanford University, the latest in a series of academic research outposts around the globe.
Along with Stanford, IOG has established research facilities and joint projects with the Universities of Edinburgh, Wyoming, Athens, and Tokyo Institute of Technology. Charles Hoskinson, the creator of Cardano, also gave $20 million to Carnegie Mellon University (CMU) last year in order to launch the Hoskinson Center for Formal Mathematics.
Vice president of Community and Ecosystem at IOG, Tim Harrison, after the announcement, stated that IOG and Stanford have worked together in the past.
“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,” he stated in an email.
When questioned about whether the aim of the new IOG-backed blockchain hub and if it would promote the Cardano ecosystem or things like Haskell, the mathematical programming language used to create Cardano smart contracts, Harrison responded that the project is “to fund researchers from multidisciplinary backgrounds.”
CEO Charles Hoskinson also chimed in, stating that working with the likes of Stanford to set up blockchain research hubs aligns with the vision of IOG. “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,” Hoskinson said in a statement.
“Healthy competition is a vital part of any growing industry, but especially in its early days, every player also needs to play its part in growing the space as a whole,” Harrison added. “
Harrison revealed that thanks to the latest partnership, university researchers would be able to present ground-breaking studies that will have an impact on the blockchain sector.
Earlier yesterday, Hoskinson revealed in a video that the Cardano Vasil hard fork was likely to happen in September. The Cardano community has been waiting on the hard fork for some time now after it was postponed twice.
ADA, at press time, was trading at $0.45, up 4.96% in the last 24 hours. The digital coin has been tipped by Josh Enomoto, a former senior business analyst for Sony Electronics who has worked with Fortune 500 companies, to break the ‘double-digit threshold’.
However, for Enomoto’s forecast to play out, Bitcoin would have to rise to $48,000 (over 25% higher) in the upcoming month or two.