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IOG Establishing Research Facilities
The latest in a string of university research outposts across the world, Input Output Global (IOG), the company that built the Cardano blockchain, has invested $4.5 million in a blockchain center at Stanford University.
IOG has set up research labs and collaborative partnerships with Stanford University as well as the Universities of Edinburgh, Wyoming, Athens, and Tokyo Institute of Technology. Charles Hoskinson, the creator of Cardano, gave $20 million to Carnegie Mellon University (CMU) last year in order to launch the Hoskinson Center for Formal Mathematics.
A center for technical development is Palo Alto, California’s Stanford University. In 2018, the university established a Center for Blockchain Research under the direction of two academics who specialize in cryptography, Dan Boneh and David Mazières. Tim Harrison, vice president of community and ecosystem at IOG, stated that IOG and Stanford had been working together for some time. Before the research centre, they gave $500,000 to support their efforts to study the scalability of blockchains. Stanford is a perfect site for the hub because it is one of the top academic institutions in the world, Harrison wrote in an email.
Healthy Rivalry is an Essential Component
Harrison said that the initiative is to finance researchers from various backgrounds when asked if the new IOG-backed blockchain hub will promote the Cardano ecosystem or things like Haskell, the mathematical programming language used to create Cardano smart contracts.
The IOG’s ambition requires collaboration with universities like Stanford to establish blockchain research centres, according to CEO Charles Hoskinson. In a statement, Hoskinson claimed that the Research Hub would”give a new layer of legitimacy to our industry that we haven’t always been afforded and that blockchain development will grow even quicker as a result of the new learnings that will emerge.
Harrison stated that while healthy rivalry is an essential component of every expanding sector, particularly in the beginning, each participant must also contribute to the expansion of the market as a whole. University researchers will be able to present cutting-edge initiatives that will have an influence on the blockchain sector.
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