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Cardano’s-Parent IOHK donates $500,000 to the University of Wyoming

Cardano’s-Parent IOHK donates $500,000 to the University of Wyoming

IOHK, the company behind the Cardano project, has donated $500,000 to the University of Wyoming. In a press release shared with CryptoSlate, the company said that the donation is aimed at supporting blockchain development and growing its application in supply chain management, cryptography, and smart contracts.

Blockchain development in Wyoming gets a boost from an IOHK donation

Blockchain development in the U.S. state of Wyoming has just got a major boost, thanks to a donation from IOHK. The company, founded by Ethereum co-founder Charles Hoskinson, has donated $500,000 in ADA, the native cryptocurrency of Cardano, to the University of Wyoming’s (UW) Blockchain Research and Development Lab.

In a press release shared with CryptoSlate, IOHK said that the work of the Wyoming Blockchain Taskforce has made Wyoming one of the world’s leading destinations when it comes to legislatively-enabled blockchain innovation. Wyoming is one of the few U.S. states with a comprehensive, blockchain-friendly legal framework, so far enacting 13 blockchain-enabling laws.

Caitlin Long, a former member of the Wyoming Blockchain taskforce, said that the work they’ve done has made the state of Wyoming an attractive destination for blockchain development.

She said:

“The Wyoming Legislature has already achieved several world firsts in passing an extensive series of laws supporting blockchain innovation and the use of cryptocurrencies, and we’re pleased to be able to continue that record”

Supporting Wyoming’s burgeoning blockchain revolution

The donation will enable graduate students and faculty at the University of Wyoming to develop practical applications for blockchain in real-world use cases, the company said. These include cryptography, authentication, supply chain management, and proving the provenance of goods and automated or ‘smart’ contracts.

Charles Hoskinson, the CEO of IOHK, said that the company was happy to play a part in putting Wyoming on the map when it comes to blockchain. The research being done at the university and the country supportive environment was what led IOHK to invest in Wyoming.

The acting president of the University of Wyoming, Neal Theobald, thanked IOHK for the donation, saying it was a significant financial contribution. He explained that the funds will help both the faculty and the students continue their research into real-world uses of blockchain technology.

Long also noted that the $500,000 worth of ADA from IOHK will affect more than just the University of Wyoming. The donation will also help put Wyoming on the map and establish the country as a talent hub for software development.

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Priyeshu Garg
Author

Priyeshu Garg

Analyst @ CryptoSlate

Priyeshu is a software engineer who is passionate about machine learning and blockchain technology. He holds an engineering degree in computer science engineering and is a passionate economist. He built his first digital marketing startup when he was a teenager, and worked with multiple Fortune 500 companies along with smaller firms. When he is not solving transportation problems at his company (Ola), he can be found writing about the blockchain or roller skating with his friends.

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