Enterprise blockchain firm Ripple has allocated $1.3 million to fund a new Center for Digital Assets (CDA) within the engineering school of the University of California, Berkeley.
Notably, the funding has been provided in Ripple’s own Ripple USD (RLUSD) stablecoin.
Expanding partnership
Ripple’s support for UC Berkeley is not new. The San Francisco-headquartered company has been providing financial assistance for one of California’s top universities since 2018 as part of its University Blockchain Research Initiative (UBRI).
Earlier, however, the company was mainly focused on sponsoring research and student programs, but it is now bringing its support to a whole new level with the new center.
Notably, Ripple’s engineers will be working directly with CDA, meaning that this can be viewed as a strategic R&D partnership.
Main research goals
The center’s research will involve advancing the development of blockchain-based assets of the likes of NFTs, creating digital “twins” of physical assets, and coming up with new practical applications of blockchian technology. For instance, blockchain could lead to more efficient inventory management.