Blockchain development pioneers Input Output Global (IOG), recently donated an additional $4.5 million dollars to blockchain research by Stanford University. Specifically, the donation will help fund blockchain research development posts around the world. IOG previously donated $500,000 to Stanford University research into blockchain scalability prior to this larger donation.
Founded in 2015 by Charles Hoskinson and Jeremy Wood, IOG is most notably recognized as the blockchain development company responsible for developing the Cardano blockchain network. IOG and its founders have proven to be adamant about donating towards research and development in blockchain and technology advancements.
A Track Record Of Donating
Stanford University began its Center for Blockchain Research in 2018, and has been considered by most within the industry, to be one of the globally recognized universities at the forefront of research and development within the industry for some time now. This is what prompted IOG’s confidence in the lab to conduct research into blockchain scalability when IOG donated $500,000 for the first time back in February 2020.
In addition to this most recent donation of $4.5 million to be paid out over three years to the University, IOG has been actively supporting research and development in the blockchain industry outside of its ties and relationship with Stanford as well. IOG has established relationships with the University of Edinburgh, University of Wyoming, University of Athens and Tokyo Institute of Technology. Co-founder Charles Hoskinson also donated $20 million dollars to Carnegie Mellon University to fund the Hoskinson Center for Formal Mathematics just last year.
Details Surrounding The $4.5 Million Dollar Donation
The donation from IOG will reportedly go to funding individuals and organizations engaged in research and development work across multiple blockchain disciplines and backgrounds. This was an answer given by Vice President of IOG Community and Ecosystem, Tim Harris, when asked if research would be directed exclusively towards the mathematical programming language used by the Cardano network. Additionally, the entire allocation will be dispersed over a three year period in order to progress foundational research accordingly.
The visible co-founder of IOG, Charles Hoskinson, reports a focus on all forms and types of blockchain research as one which can evolve the field at a faster rate than individually-centered efforts. From Mr. Hoskinson to Tim Harris, and the entire IOG core team, a belief exists that every early innovator in an industry must not only be focused on building their individual developments, but also take an active part in growing the space as a whole. This most recent research and development fund presents rather clear evidence of that conviction.