Blockchain Cowboys Nab Funding: Half a Million Dollars Worth of Cardano Donated to University

TL;DR: The University of Wyoming (UW) announced it received a $500,000 grant in cardano (ADA) from the cryptocurrency’s parent company, IOHK. Funds will be used to support UW’s Blockchain Research and Development Lab in conjunction with project-specific work. 

Half a Million Dollars Worth of Cardano Donated to University of Wyoming

“The gift will support the UWYO-IOHK Advanced Blockchain Research and Development Laboratory, which will be housed in UW’s Secure Systems Collaborative along with CEDAR, UW’s Cybersecurity Education and Research center,” the University noted.

IOHK founder and CEO Charles Hoskinson explained, “The potential real-world applications of blockchain are limitless, and IOHK’s donation of $500,000 to the University of Wyoming’s Blockchain Research and Development Lab will go some way in helping to realize that potential — and also help to bolster Wyoming’s burgeoning blockchain revolution at large. The Wyoming Blockchain Task Force’s supportive business environment is what led IOHK to choose to invest here.”

Indeed, Wyoming has been on the legislative cutting edge when it comes to being cryptocurrency-friendly, led in large part by the work of Caitlin Long. “THIS IS BIG!” Long tweeted in response to the news. “The Univ of #Wyoming accepts ADA donation—first of its kind, while other univs sit on their hands trying to figure out how to accept #crypto donations. The WY #blockchain effort began 2.5yrs ago w/ an attempted #bitcoin donation to UW—laws changed & now here we are.”

According to UW, the ADA donation “is the largest cryptocurrency gift to UW and is among the largest cryptocurrency gifts to a public university. UW is one of the first universities to accept cryptocurrency donations,” underscoring how the grant “is being doubled to $1 million by state matching funds and, as part of the legislative match, the university is providing additional supporting funds.” When up-and-running, the lab will be the fourth of its kind for IOHK, as it has similar arrangements with the Tokyo Institute of Technology, University of Edinburgh, and the University of Athens.

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