Blockchain research is set to get a cash injection from Dash as the cryptocurrency collaborates with the Arizona State University’s Blockchain Research Laboratory.
As blockchain awareness continues to grow, more and more industries are realizing that it could be a viable solution in their business. However, as with any evolving technology, time and effort need to be put into researching its mainstream benefits.
Dash Offers Financial Support for Blockchain Research
In November last year, Arizona State University (ASU) entered into a collaboration with Dash, a top-20 cryptocurrency with a market cap of just over $6.5 billion, according to CoinMarketCap. The self-funding crypto offers many distinctive characteristics, including instant and private transactions through its InstantSend and PrivateSend features respectively.
The partnership will introduce the Dash Scholars Program, which will provide $100k to fund undergraduate and graduate research fellowships, and open source projects. The program will also contribute $100k to the BRL and $50k to the Luminosity Lab and blockchain course development. In addition, $100k will be allocated to an ASU online graduate course scheduled for this fall.
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BRL Hopes to Foster Mainstream Blockchain Integration
Dragan Boscovic, director of BRL and a research professor in ASU’s School of Computing, Informatics and Decision Systems Engineering, expressed his excitement for the collaboration:
ASU welcomes this initiative and is ready to play its role in creating a potent blockchain research and innovation environment for young talents to develop practical blockchain applications.
Ryan Taylor, CEO of Dash Core, is also looking forward to what the venture will offer:
This is a remarkable partnership precisely because both sides will benefit greatly from tight collaboration. Dash benefits from gaining valuable independent insights into how we can improve our plans for scaling to massively large numbers of transactions. ASU will benefit from gaining access to one of the most innovative teams in the digital currency industry. The entire blockchain industry will benefit from the best practices that will emerge from the research, and the creation of a graduate course is a tremendous leap in blockchain’s path towards rapid, mainstream adoption.
Even though blockchain will always be the underlying technology for virtual currencies, the BRL hopes to focus on implementing it into other industries such as the financial sector and contract-based businesses currently making use of intermediaries.
The BRL also includes other professionals such as faculty members from the Ira A. Fulton Schools of Engineering whose Dean, Kyle Squires, had this to say:
The Blockchain Research Lab not only offers students early access to blockchain technologies that are transforming the nature of business transactions, it is providing them an opportunity to be part of the design process and a unique opportunity for real-world innovation and design.
Do you think that 2018 will see more mainstream businesses adopting blockchain technology? Let us know in the comments below!
Images courtesy of ASU/Flickr
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