- Input Output Global (IOG) is investing $4.5 million in a new blockchain research hub based at the University of Edinburgh.
- The hub will give university students and researchers a platform to propose new web3 projects.
- IOG has created a committee comprised of its members and University representatives to lead the blockchain research hub.
Input Output Global (IOG) has extended its relationship with the University of Edinburgh with a new blockchain research hub. The hub comes hot on the heels of IOG’s $4.5 million fundraising, which will form the inaugural funding for the project.
IOG previously partnered with the University to launch Blockchain Technology Lab within the institution’s School of Informatics.
IOG wants the blockchain hub to act as a platform where students and university researchers can present projects related to blockchain and decentralised ledger technology. Its leadership team charged with reviewing and allocating funds to proposed projects will consist of IOG and university representatives.
On the other hand, the research team features a number of academics including Aggelos Kiayias the University’s chair of cybersecurity and privacy, who also serves as the chief scientist at IOG. Commenting on the extended partnership, Kiayias said: “The collaboration has brought forth a lot of advances to this state of the art of technology over the past five years.”
The University’s blockchain technology lab formed out of the collaboration has birthed some of the most impact blockchain infrastructure projects to date. Kiayias pointed “to Ouroboros, a suite of blockchain protocols based on proof of stake, and Ofelimos, a proof-of-useful-work protocol resolving the energy efficiency problem of proof-of-work-based blockchains, as examples.”
IOG has been spearheading collaborations with educational institutions in the UK, after investing another $4.5 million in Stanford University’s Blockchain Technology Hub.
The company CEO Charles Hoskinson also donated $ 20 million to the Hoskinson Center for Formal Mathematics at Carnegie Mellon University in Pennsylvania.
Commenting on the latest investment, Hoskinson said IOG’s intentions are to create an enabling environment that allows the rapid growth of the blockchain technology sector driven by new concepts that will emerge from learning.
Hoskinson described the founding of IOG as “essential to our vision of making academic rigour an industry standard.”
“The establishment of this new research hub is…a key milestone in continuing and scaling this work across the whole university with an emphasis on interdisciplinary research,” added Kiayias.
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