3 US Universities to Conduct Government-Funded Cryptocurrency Research

3 US Universities to Conduct Government-Funded Cryptocurrency Research

The University of Maryland, Cornell, and the University of California Berkeley will be conducting cryptocurrency research backed by $3 million in funding from the National Science Foundation, a US government agency that supports and funds scientific research. According to principal investigator Elaine Shi, the universities will be focused on developing new cryptocurrency systems that can address "pain points" in bitcoin and other digital currency networks. Cryptocurrency Research Scope. This wide-ranging research, which is entitled The Initiative for Cryptocurrency and Contracts (IC3),....


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Three American universities are set to conduct wide-ranging research on cryptocurrencies using roughly $3m in grant funding from the National Science Foundation, a US government agency that supports and funds scientific research. Cornell, the University of Maryland and the University of California Berkeley will focus on developing new cryptocurrency systems that, according to principal investigator Elaine Shi, will address "pain points" attributed to bitcoin and other existing networks. The Initiative for Cryptocurrency and Contracts (IC3) will also involve Cornell researcher Emin Gun....

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Editor’s Note: We would like to apologize for the factual inaccuracy of this article. The University of Maryland is not giving research grants; rather, they have received a grant from the National Science Foundation so they can study cryptocurrency. Update: This article has been modified to correct a number of reporting inaccuracies that appeared in the original text. We have added an acknowledgement to research teams at Cornell and UC Berkley, who are working as collaborators on this project with the University of Maryland. Additionally, we have added an acknowledgement to Elaine Shi, who....

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Quotes

Long term, if Bitcoin gains widespread adoption, I'd expect the Bitcoin price to correlate to how useful people think sending payments, property and contracts anywhere in the world instantly and reliably is. Personally I think this could be more useful than wearing jewelry, but maybe that's just me.

Chris Dixon, Entrepreneur and investor, co-founder and former CEO of Hunch