Cardano developer IOG to fund Blockchain Research Center at Stanford University
Cardano blockchain builder, Input Output Global, has continued the expansion of its network of academic research bases while promoting blockchain technology. CEO Charles Hoskinson announced Monday that the development firm behind Cardano will fund a $4.5 million blockchain research center at Stanford University over the next three years.
Vision and mission for the research hub
Tim Harrison, VP of Community and Ecosystem, described the choice of the California-based university as ideal thanks to its excellence in academic affairs. Harrison noted that the goal of the research center is to help blockchain students deliver innovative projects to advance the blockchain space. The new IOG-supported research hub will accommodate university researchers with a multidisciplinary background.
The funding of the ‘Stanford IOG Research Hub’ follows an earlier donation of $500,000 to the university intended to facilitate research on scalability, which is one of the challenges associated with blockchain technology. It also adds to the list of blockchain-related research initiatives that IOG has launched and participated in. Other top institutions that IOG has worked with include Carnegie Mellon University, University of Athens, University of Edinburgh and Tokyo Institute of Technology.
Separately, EMURGO Ventures revealed news of an investment in Web3 developer DoraHacks on Monday. This investment will help set up Cardano-focused hackathons and promote the dApp niche.
“This funding will support EMURGO and DoraHacks to host global hackathons exclusively for Cardano’s ecosystem and identify co-investment opportunities in high-potential Web3 dApps that demonstrate synergy with Cardano’s blockchain via DoraFactory.”
The latest display of blockchain research efforts comes as the Cardano ecosystem awaits the Vasil hard fork. There have been several conversations surrounding the upcoming event, including a recent update from Hoskinson on the state of affairs.
Cardano leads the crypto industry in user brand intimacy rankings
The recently published MBLM Top Brand Intimacy 2022 report ranked the Cardano blockchain 26th collected among other brands within user intimacy. Cardano recorded a quotient score of 52.6, emerging as the leading cryptocurrency project on a list that included other popular brands such as Sony and Tesla. Bitcoin, the flagship coin and market leader in terms of market capitalization, ranked four positions lower. Polkadot came in at position 111 – nine places ahead of Ethereum.
According to the report, Cardano’s popularity among users is due to its lower investment costs and the positioning of the network as one that seeks to serve the change makers and innovators. Also, the blockchain focuses on initiatives that intend to create positive change around the world, hence the optimism surrounding it.
MBLM’s Brand Intimacy Study ranks brands based on how emotionally compelling they are to users. The ranking is compiled using AI and big data analysis to determine the proximity between products and consumers. Notably, it was the first time cryptocurrency projects were listed in the ranking, with the sector among the industries evaluated.
The shift shows the changed attitude towards Web3 technologies and their use. For Cardano in particular, it was a case of breaking barriers. The user sentiment following the ranking was proof of this, with several hailing the blockchain for surpassing titans like Google. In its own way, Cardano founder Charles Hoskinson told me CoinTelegraph that the network has achieved this while being as decentralized as ever. Today, there are builders from over 100 different countries around the world, all building in the Cardano ecosystem.
To learn more, visit our Investing in Cardano guide.
