Digital asset holders and organizations have been donating funds to a number of well-known universities. These days a slew of popular colleges like Stanford, MIT, Cornell, Puget Sound, and Princeton all accept digital currency donations or have high-net-worth crypto backers funding these schools. On the flip side of higher education, many of the world’s prestigious universities also offer elective courses that teach technology.
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Universities See an Increasing Trend of Cryptocurrency Donors
One growing trend has been the way in which the digital currency ecosystem is fueling education through donations and backers. For instance, during the first week of January 2019, entrepreneur Mike Novogratz some of his profits to Princeton’s Bridge Year Program. The initiative allows students to get sponsored by schools so they can live and study abroad for nine months in areas like , Bolivia, Senegal, Indonesia, and India. The CEO of Galaxy Digital is a member of Princeton’s class of 1987 who earned a degree in economics.
“Proud to put some of our crypto winnings (2017) to a good cause. A year living in a different culture can change your life for the better. Build bridges, not walls,” Novogratz his 114,000 followers on Twitter.
Then there’s the list of Stanford’s corporate donors who help fund the school’s engineering section. Stanford’s endowed faculty chairs and fellowship organizations include the Foundation, Vechain, and Omisego. During the first week of 2019, Holberton School in New Haven worth of from the Scroll Network’s founder Nathan Pitruzzello. Back in November 2017, the Echolink Foundation worth of to UC Berkeley. In 2014, the co-founder and vice chairman of , Nicolas Cary, donated $10,000 to the University of Puget Sound. Cary’s donation of 14.5 used Bitpay to facilitate the transfer, which would be worth $58,000 today, but the gift was turned into fiat immediately.
The Largest Endowment Funds in Higher Education Are Investing in the Cryptocurrency Ecosystem
Furthermore, universities with huge financial endowments are hedging with funds as well. Last May, sources familiar with the matter that Ivy League school Yale had invested in the fund Paradigm. Yale’s endowment is the second-largest in higher education and Paradigm is backed by Pantera Capital’s Charles Noyes and cofounder Fred Ehrsam. Moreover, on Feb. 21, public documents that the endowment of the University of Michigan has backed a investment fund supervised by Andreessen Horowitz. Yale and the University of Michigan are not the only endowments investing in related ventures, as MIT, Stanford and Harvard are knee-deep in digital asset funds as well.
42 Percent of the Globe’s Top 50 Universities Offer Crypto Courses
Tech publication The Information’s says that many Ivy League schools are invested in at least one or more crypto related investments. Moreover, a great majority of the universities that have endowments invested in digital assets or have received digital asset donations offer -related courses. Most of these schools also provide students with academic credits for courses on smart contracts and blockchains. Both the Holberton School in New Haven and Boston’s MIT offer students graduate that are processed using the chain.
Because of the level of innovation involved, higher education and crypto technology go hand-in-hand, and trends over the last few years have shown how they share a symbiotic relationship. This has led to 42 percent of the globe’s top 50 universities offering at least one accredited course that teaches -related research. A details that because schools are offering these lessons, students are becoming interested in learning about the digital currency ecosystem. For instance, the report explains that David Yermack, the finance department chair at New York University Stern School of Business, created a course in 2014 and 35 students registered for the lesson, which is a few less people than many of the school’s traditional electives. The study reveals that by the spring of 2018, Stern had to move the class to the largest auditorium because students registering for the course spiked to 230.
What do you think about school endowments getting involved with funds and backers donating large sums of digital assets to universities? Let us know what you think about this subject in the comments section below.
Image credits: Shutterstock, Stanford, Reports, Twitter, and Pixabay.
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Published at Sat, 23 Feb 2019 04:02:42 +0000
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