- IOG has a long-standing relationship with Edinburgh University as it previously built a Blockchain Technology Lab in the School of Informatics.
- According to Hoskinson, collaborating with these institutions facilitates the execution of their goals.
After announcing a huge Investment at Stanford and Carnegie Mellon, Cardano blockchain builder Input Output Global (IOG) has announced the funding of a $4.5 million research hub at the University of Edinburgh. According to IOG CEO Charles Hoskinson, this investment is part of its plan to advance the blockchain industry.
IOG has been working with the University of Edinburgh for some time, and I’m thrilled that this new research hub will let us continue to advance our industry.
The Input-Output Global Research Hub is an initiative backed by the IOG and the University of Edinburgh to improve understanding in the scientific world coupled with coming up with a standard for research in the blockchain and distributed ledger industry. In addition to having a broad remit, the hub would facilitate development in Haskell. Haskell exists as a “mathematically pure computing language underpinning Cardano.”
IOG has a long-standing relationship with the university as it previously built a Blockchain Technology Lab in the School of Informatics. According to Hoskinson, collaborating with these institutions facilitates the execution of their goals.
Working with leading institutions like Edinburgh to set up these blockchain research hubs is essential to our vision of making academic rigor an industry standard.
IOG $4.5 million Blockchain Research Hub Funding at Stanford University
In August, IOG announced the funding of a new $4.5m ‘Blockchain Research Hub’ at Stanford University. This collaboration was to address foundational questions in the blockchain ecosystem, promote the need for research and increase the blockchain industry’s collation of scientific knowledge.
It was reported that the research hub would consider a multidisciplinary approach and ensure that researchers have the opportunity to collaborate with the blockchain industry. Also, a steering committee was said to oversee the hub by ensuring that research programs are agreed on, a call for proposals is launched, submitted proposals are reviewed, etc.
Similar to the Edinburgh University collaboration, Hoskinson believes that working with Stanford University could be a key move in fulfilling its vision.
We’ve been dedicated to vigorous research since the inception of the business and our work forms the foundations on which Cardano has been built. Working with leading academic institutions like Stanford to set up these blockchain research hubs is key to our vision. 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.
These Investments are expected to reflect in the price of ADA as the token is still 10 percent down in the last seven days and trading at $0.32. Currently, the overall sentiment in the crypto market is low. It is unlikely that this move could facilitate a bullish run that could send the price to $5. However, a marginal surge is possible.
