Seoul, South Korea – September 3, 2024 – Ripple, the leading provider of digital asset infrastructure, announced today that Yonsei University in South Korea is the latest partner to join its University Blockchain Research Initiative (UBRI) program. This new partnership with one of South Korea’s most prestigious academic institutions marks Ripple's 58th UBRI partnership globally, and its 12th within the Asia Pacific region.
UBRI aims to drive global adoption and interoperability of digital assets through strategic support, technical resources, and funding grants. The program’s global impact is supported by over $60 million in funding from Ripple since its launch in 2018.
Through a multi-year partnership, Yonsei University will spearhead innovative blockchain research across various disciplines that are shaping the future of blockchain technology such as artificial intelligence and finance, information systems, and management.
The grant will also aid in facilitating hackathons and fund the launch of an XRP Ledger (XRPL) validator at Yonsei University. A XRPL validator evaluates transaction proposals from a specific set of trusted validators called a Unique Node List (UNL), augmenting the network’s security and decentralization. This initiative not only enhances Yonsei University's blockchain research capabilities, but also provides practical learning opportunities for faculty and students, while reinforcing the credibility and neutrality of the XRPL by having another respected academic institution in the validator network.
"Yonsei University is at the forefront of academic excellence in South Korea, and we are thrilled to welcome them as our latest UBRI partner,” said Eric van Miltenburg, Senior Vice President of Strategic Initiatives at Ripple. “By supporting their innovative research and educational initiatives, we are not only advancing the field of blockchain in South Korea, but also empowering the next generation of leaders and innovators in this space."
"We are excited to be the latest partner to receive a grant through Ripple’s UBRI program, allowing us to further explore cutting-edge research areas and foster a deeper understanding of blockchain's impact on the finance and management industries,” said Jun Kyung Auh, Associate Professor of Finance and Artificial intelligence at Yonsei University. “I’m confident that our students and faculty will benefit immensely from the opportunities to work on real-world challenges and contribute to the global blockchain ecosystem through this partnership."
Yonsei University will join existing partners in Asia Pacific including Korea University, who have been part of the UBRI program since the program’s inception in 2018, and recently renewed its multi-year commitment to advancing blockchain education with UBRI. Korea University also runs an active XRPL validator on campus and has allocated a portion of its funds to other blockchain projects in the region, including Professor Hyunok Oh of Hanyang University’s work in the Security and Privacy Lab to pioneer research in Zero-Knowledge Proofs (ZKPs) and their practical applications.
This partnership with Yonsei University underscores Ripple's commitment to fostering blockchain innovation and education worldwide, and further strengthens the company’s presence in the Asia Pacific region. This commitment was made even more apparent in June this year when Ripple announced the launch of the XRPL Japan and Korea Fund, dedicated to supporting innovation on the XRPL in the dynamic Japanese and Korean markets through a range of robust initiatives including corporate partnerships, developer grants, startup investments and community growth activities.