Stanford University Launches Blockchain Research Center; Ripple Believes Coinbase Should List XRP Token; South Korean Government Will Invest More Than $200 Million In Public And Private Blockchain Initiatives
According to Coindesk, a group of cryptocurrency startups s and organizations are sponsoring a new blockchain research center that will be headquartered at Stanford University. The center will be led by two professors with specialties in blockchain and cryptocurrencies, Dan Boneh and David Mazières.
Ethereum creator Vitalik Buterin tweeted about the project on June 20 and stated that he was excited to be supporting the initiative to create a new blockchain research center.
Boneh stated:
“Blockchains will become increasingly critical to doing business globally. Stanford should be at the forefront of efforts to improve, apply and understand the many ripple effects of this technology.”
According to Fortune, CEO of Ripple Brad Garlinghouse stated that Coinbase should list XRP and argued publicly for it. In an interview, Garlinghouse said, “As we solve problems at scale for institutions, I think it’s in Coinbase’s interest to participate in that.”
Unfortunately for Ripple, Coinbase crushed the possibility of XRP being listed on Coinbase soon as it stated that it will only allow trading for cryptocurrencies that have been deemed not a security by regulators.
Garlinghouse believes that XRP would not fall under the definition of being a security, stating at a conference:
“I think it’s really clear that XRP is not a security…[XRP] exists independent of Ripple… I don’t think that our ownership of XRP gives us control… Saudi Arabia owns a lot of oil — that doesn’t give them control of oil.”
According to Coin Telegraph, South Korea’s Ministry of Science has announced a massive blockchain development strategy that aims to raise 230 billion won (~$207 million USD) by 2022
The new initiative will support 10,000 blockchain industry professionals and 100 companies, and will expand and commercialize six existing blockchain pilots. These pilots aim to leverage blockchain technology for real estate, online voting, shipping logistics, livestock record management, customs clearance, real estate, and international e-document distribution.
Blockchain technology is getting massive support and adulation from South Korea. Yesterday, the chairman of one of the largest South Korean gaming companies, Netmarble (which has a market cap of about $11.59 billion USD) said he believes that blockchain technology “will be applied to all industries in the future.”
