University of Wyoming Receives $500,000 Cryptocurrency Donation
Today, Wyoming received a donation from IOHK, a leading international technology company, in the sum of $500,000 in Ada Cryptocurrency.
Along with this gift, the college was also excited to announce a partnership with IOHK, which will have a laboratory at the college in order to aid in the organization's research. James Caldwell, a Professor of computer science stated in an article from the university, “This funding and partnership between IOHK and UW provide an unprecedented opportunity for the university and the state of Wyoming to establish ourselves on the leading edge of blockchain technology.”
Blockchain is a system to store and track transactions in bitcoin or other types of cryptocurrency in a digital ledger or permanent record. This technology has been transformative for industries such as banking, law, and identity.
Thanks to Wyoming blockchain legislation from 2018 and 2019, the state is an established leader at the forefront of this technology internationally.
Another focus of this partnership to create jobs in Wyoming. As the state has approved the legislature needed for these types of currency to exist, Charles Hoskinson, the CEO and founder of IOHK, feels that it is only right to thank them by providing the states with jobs in this field. Hoskinson has roots in Wyoming, with both his parents being from Gillette and his own family making its home in Northern Colorado. His hope is that through this program, he can hire the great minds of the university to work for his company after graduation, stating "We think it is an obligation that if you hire people you try to keep them at home."
For more information regarding IOHK and their work, please find their website here.