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UW Leads in Blockchain Tech with Gift from IOHK

IOHK
Wyoming-based world-leading software engineering company IOHK made a $500,000 investment to support the establishment of a blockchain research lab and to support UW’s faculty and graduate students. Blockchain technology is revolutionizing industries such as banking, law, identity, chain of custody, and more.

The gift, in the company’s ada cryptocurrency, is among the largest cryptocurrency gifts to a public university, and UW is one of the first universities to accept cryptocurrency donations. It was doubled to $1 million by state matching, in dollars, with UW providing additional supporting funds. It will create the UWYO-IOHK Advanced Blockchain Research and Development Laboratory, in which faculty and graduate students will develop practical hardware and software applications of blockchain technology in the real-word use cases of cryptography, authentication, supply chain management, cryptocurrency, and smart contracts.

“The potential real-world applications of blockchain are limitless, and IOHK’s investment of $500,000 to the UWYO-IOHK Advanced Blockchain Research and Development Laboratory will go some way in helping to realize that potential—and also help to bolster Wyoming’s burgeoning blockchain revolution at large,” says Charles Hoskinson, IOHK founder and CEO. “The supportive business environment for blockchain innovation in Wyoming, driven in large part by the Wyoming Blockchain Task Force (now the Wyoming Blockchain Select Committee), is what led IOHK to choose to invest here.”

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