IOHK, the company behind the development of the Cardano cryptocurrency, has allocated $500,000 in ADA to the University of Wyoming forconducting research in the field of blockchain and its practical application.
According to research leadersUniversity of Wyoming's Blockchain Research and Development Lab, the funds received will be used to develop practical solutions using distributed registry technology that can be applied in various fields of activity.
“This collaboration with IOHK will be powerfulan incentive for our students and graduates interested in working in the blockchain industry, so they will be happy to take part in the initiative. In addition to studying the theory, we will also develop real-world scenarios for using the blockchain, ”said Mike Borowczak, associate professor at the University of Wyoming.
According to Professor James Caldwell (JamesCaldwell), the research department will develop blockchain-based solutions that can be used to improve smart contracts, track supply chains and authenticate products.
IOHK chose the University of Wyoming,as the state has been highly active in terms of regulating blockchain and cryptocurrencies. For example, last year Wyoming approved four bills on blockchain and cryptocurrencies. In addition, the state is known for its loyal attitude towards digital assets and even wanted to equate them to regular money.
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