IOHK, Cardano Foundation’s official partner, has revealed that it donated $500,000 in ADA cryptocurrency to the Unversity of Wyoming’s (UW) Blockchain Research and Development Lab in Laramie, to drive blockchain application in smart contracts, cryptography and supply chain management.
According to a release sent to NewsLogical, the IOHK’s donation is centered on driving innovative blockchain application.
IOHK, which donated the huge fund, was founded by the co-founder of Ethereum and Cardano, Charles Hoskinson.
The scientist made the announcement, saying the donation of $500,000 was made in ADA cryptocurrency.
Wyoming is the only state in the US legislating in support of blockchain technology. The state has enacted around 13 blockchain-enabling laws to drive cryptocurrency adoption across the US state.
Wyoming offers comprehensive, welcoming legal framework that increases the adoption of blockchain technology in the state.
The said donation will support UW’s faculty and graduate students, charging them to develop application in the blockchain space for real-world use cases.
IOHK is a research and development company and industry leader in the fields of cryptography and distributed systems founded in 2014, has championed different blockchain research and advanced industry knowledge employing the services of its global team of cryptographers and researchers.
“The real-world applications of Blockchain are limitless and IOHK’s donation of $500,000 – in ADA, the native cryptocurrency of our cardano blockchain platform to the University of Wyoming’s Blockchain Research and Development Lab will go some way toward realising that potential and will help to bolster Wyoming’s burgeoning blockchain revolution,” says IOHK CEO, Charles Hoskinson.
“The Wyoming Blockchain Taskforce’s supportive business environment and the excellence of the University of Wyoming’s science research is what led IOHK to choose to invest here. We are incorporated here as a business and are very happy to play a small part in helping embed Wyoming’s position at the global heart of blockchain-based innovation.”
In his remark, UW Acting President Neal Theobald, says the donation makes the University of Wyoming to be proud of its role as a leader in blockchain research and education.
“This support will help us continue to move forward in a very exciting and promising field of innovation and discovery,” he said.
“We’re immensely proud of the work the Task Force has achieved in making the state of Wyoming one of the world’s most attractive destinations for businesses looking to build innovative companies, developing real-world uses for blockchain technology,” adds Caitlin Long, formerly a member of the Wyoming Blockchain Task Force.
“IOHK’s $500,000 donation, in the native Cardano cryptocurrency, ADA, will not just fund research into real-world uses of blockchain technology, but will also develop Wyoming further methods in the world.”