Cardano`s IOHK donates 500.000 USD to University of Wyoming

  • Cardano’s IOHK has made a donation of 500,000 US dollars to the American University in Wyoming.
  • The purpose of the donation is to promote blockchain innovations in cooperation with IOHK.

Input Output Hong Kong (IOHK), the company responsible for Cardano‘s development, revealed yesterday that it has made a donation of $500,000 to the Blockchain Research and Development Lab at the University of Wyoming (UW) in Laramie. The donation is primarily to support the promotion of innovative blockchain applications through smart contracts, where the university will work closely with IOHK. As announced by Charles Hoskinson, the inventor of Cardano and founder of IOHK, the donation was made in the cryptocurrency ADA.

IOHK is known for using a highly scientific approach in the development of Cardano. In this respect, the newly acquired partner, the University of Wyoming, fits perfectly into the concept. In 2020, the focus will be on the commercialization of Cardano. UW could make a valuable contribution through its research in the field of smart contract applications. Hoskinson said:

The real-world applications of Blockchain are limitless and IOHK’s donation of $500,000 – in ADA, the native cryptocurrency of our cardano 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.

Wyoming is a state in the USA, which is known to be extremely friendly towards cryptocurrencies and blockchain technology through various laws. Already at the beginning of last year, Wyoming passed two laws to create a legal framework to promote cryptocurrency and blockchain innovation. In addition, the Wyoming Task Force drafted a bill to define cryptocurrencies as legal forms of money. According to Hoskinson, this was also a decisive factor for the donation to the University of Wyoming:

The Wyoming Blockchain Taskforce’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.

The President of the University, Neal Theobald, stated that the donation makes the University of Wyoming proud of IOHK’s trust and commitment to playing a leading role in blockchain research and education:

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This support will help us continue to move forward in a very exciting and promising field of innovation and discovery.

Caitlin Long, a former member of the Wyoming Blockchain Task Force, added to Theobald’s statement:

We’re immensely proud of the work the Task Force has achieved in making the state of Wyoming one of the world’s most attractive destinations for businesses looking to build innovative companies, developing real-world uses for blockchain technology.

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IOHK’s $500,000 donation, in the native Cardano cryptocurrency, ADA, will not just fund research into real-world uses of blockchain technology, but will also develop Wyoming further methods in the world.

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Jake Simmons has been a crypto enthusiast since 2016, and since hearing about Bitcoin and blockchain technology, he's been involved with the subject every day. Beyond cryptocurrencies, Jake studied computer science and worked for 2 years for a startup in the blockchain sector. At CNF he is responsible for technical issues. His goal is to make the world aware of cryptocurrencies in a simple and understandable way.

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