IOHK: $500,000 in crypto as a donation to the University of Wyoming

IOHK, the company behind Cardano’s development, donated $500,000 crypto to the University of Wyoming (UW) to fund a blockchain project to increase its adoption and use cases in supply chain management, encryption and smart contracting.

The donation was made with the ADA crypto to fund the UW Blockchain Research and Development Lab in Laramie. In practice, students at this university will be able to graduate and take specializations and HD by studying and working on blockchain projects as well as, of course, studying IOHK technology.

Another project that students will work on is the study of a very low power crypto-authentication chip to be used in Internet of Things systems and in particular for applications that demonstrate the origin of goods and artifacts.

This is not the first partnership that IOHK has with a university: some time ago, in fact, a laboratory of Blockchain Technology in collaboration with the University of Edinburgh was also announced.

The CEO of Cardano and IOHK, Charles Hoskinson, explained:  

“The real-world applications of blockchain are limitless and IOHK’s donation of $500,000 – in ada, the native cryptocurrency of our Cardan blockchain platform to the University of Wyoming’s Blockchain Research and Development Lab will go some way toward realising that potential and will help to bolster Wyoming’s burgeoning blockchain revolution. The Wyoming Blockchain Task Force’s supportive business environment and the excellence of the University of Wyoming’s science research is what led IOHK to choose to invest here. We are incorporated here as a business and are very happy to play a small part in helping embed Wyoming’s position at the global heart of blockchain-based innovation.”

Why Wyoming?

Also thanks to the so-called Wyoming Blockchain Taskforce, this state has 13 laws to regulate companies and the use of the blockchain. 

The State, in fact, recognizes for example the property rights of cryptos and has created a sandbox to continue to understand how to regulate all aspects of this sector and does not give limits regarding, for example, the possibility of having bank accounts for companies that operate with cryptocurrencies.