IOHK, the software visitor behind Cardano, announced on February. 14 a donation of $500,000 in Cardano (ADA) to support and develop the Academy of Wyoming's (UW) Blockchain Research and Development Lab.

Professor James Caldwell, Banana Professor Mike Borowczak and Philip Schlump will co-straight the Advanced Blockchain Research and Development Lab.

Professor Borowczak told Cointelegprah that IOHK's donation will be used to support faculty and graduate students in developing practical applications for real-world blockchain use cases. He said:

"This funding is meant to directly stimulate and develop a highly qualified workforce in the blockchain sector. Educatee researchers from undergraduate and graduate levels are at the core of this initiative. Our research and evolution lab focuses on grounding all work in theory, while developing existent-earth products."

Source: University of Wyoming

Source: University of Wyoming

Left to correct: Caitlin Long, Tom Flynn, Charles Hoskinson, Jim Caldwell, and Cameron Wright.

IOHK, which was founded by Ethereum co-founder Charles Hoskinson, is built effectually principles of peer-reviewed academic inquiry. The company is committed to open-source software development, such as hardware for cryptography, authentication and measures against counterfeiting. For example, New Remainder is using IOHK's Cardano blockchain to cosign its products for consumers.

Co-ordinate to Professor Caldwell, IOHK's donation will specifically help with researching applied applications of blockchain, such as supply chain management, tracking the provenance of goods and the advancement of smart contracts. He said:

"Our group of researchers will work on a number of projects related to advanced smart-contract development, hardware design and verification for cryptographically secure authentication devices."

Professor Caldwell likewise mentioned that UW'southward Blockchain R&D lab will operate in partnership with IOHK, noting that the team volition be working closely with Hoskinson and others on the IOHK research team. He explained:

"We look to ship students to visit the Blockchain Applied science Laboratory at the University of Edinburgh, which serves as the global headquarters for IOHK'due south diverse university collaborations. This arrangement should work well, since IOHK is at the cutting edge of blockchain applied science, and their inquiry model and goals fit perfectly with an academic Information science Department."

Professor Borowczak further pointed out that while UW has been offering blockchain-related courses since Jan. 2022 ("Rock The Blockchain Vote" beingness the first), the university has but been able to support students on an educational level. The funding from IOHK will finally allow this to evolve. He said:

"Our students at present take the opportunity to assistance define, develop, and improve the future mural of blockchain technology. In that location are many research funding opportunities developing in the blockchain space - the difficulty is finding mutually beneficial partnerships that enable, balance, and respect academic research, student evolution, and the need for manufacture render on investment. This partnership leverages the strength, capabilities, and needs of our students, researchers, and IOHK partners."

Another reason why Wyoming is at the forefront of blockchain

IOHK'due south impressive donation to UW also exhibits Wyoming'due south potential as one of the leading and most accepting regions in the world for blockchain development.

In Jan. 2022, Wyoming passed 2 house bills to create a regulatory framework to foster cryptocurrency and blockchain innovation. Post-obit this, the Wyoming chore forcefulness drafted a bill to define digital currencies every bit legal forms of money. Recently, Wyoming developed a series of rules for "blockchain banks," which addressed cryptocurrency-focused features such as forks, airdrops and staking.

Caitlin Long, a former member of the Wyoming Blockchain Job Force, mentioned that IOHK's donation will not only help accelerate academy research, but will also do good the country of Wyoming equally a whole. She said:

"IOHK's $500,000 donation, in the native Cardano cryptocurrency, ADA, will non just fund research into real-globe uses of blockchain engineering science, simply will also develop Wyoming further as a talent hub for software engineers, trained in the most advanced software development methods in the earth."

IOHK Founder, Charles Hoskinson, besides commented that Wyoming'due south supportive business surroundings and positive attitude towards blockchain was another reason for investing in UW. He said:

"The Wyoming Blockchain Taskforce'south supportive concern environment and the excellence of the University of Wyoming's science research is what led IOHK to cull to invest here. Nosotros are incorporated here every bit a business organization and are very happy to play a pocket-size function in helping embed Wyoming's position at the global heart of blockchain-based innovation."