Company donates $2M to Kansas for cryptocurrency technology
LAWRENCE, Kan. (AP) — A Silicon Valley company has donated $2 million to the University of Kansas to support research related to cryptocurrency and digital payments, such as Bitcoin.
The university says in a news release that the donation from Ripple will provide $400,000 each year for five years. It will go to the Information and Telecommunication Technology Center at the Kansas School of Engineering.
The university will determine its own research topics and Ripple, which provides digital commerce services, will collaborate with students and faculty and provide technical resources and expertise.
The gift also will support the KU Blockchain Institute, a student-led organization that promotes the use of blockchain technology. Blockchain is a digital record that is often used to track the use of cryptocurrency, or digital money.