Popular cryptocurrency exchange CryptoCom announced on Thursday that it had donated an undisclosed sum to the University of Pennsylvania (UPenn) to fund research on privacy and security in digital environments.
CryptoCom Supports UPenn’s Crypto Research Lab
As per a press release shared with CryptoPotato, the contribution made to UPenn’s new Crypto Research Laboratory Fund will be used to finance studies on how cryptography and coding can solve privacy and security issues in real-life blockchain applications.
“The focus of the University of Pennsylvania’s crypto lab will be tremendously valuable for wider, real-life blockchain applications while also exploring new approaches to further privacy and security capabilities. We are incredibly excited to support the foundation of this blockchain research lab within such an esteemed academic program,” said Eric Anziani, Chief Operating Officer at CryptoCom.
The donation to UPenn is a two-year research gift and it will be used to create a new research center in the School of Engineering and Applied Science. The research will focus on privacy and security in digital environments and facilitating transparency and trust, according to the release.
Not the First Time
Meanwhile, this is not the first time CryptoCom has supported academic initiatives for blockchain research.
Last month, the cryptocurrency exchange announced a four-year research gift to the Massachusetts Institute of Technology (MIT) Digital Currency Initiative to support studies on Bitcoin security and usability.
In March, CryptoCom became the founding sponsor of the Secure Blockchain Initiative at Carnegie Mellon University. The initiative was set up to advance on-chain safety and drive a greater understanding of the crypto and blockchain industry.
That same month, CryptoCom became a member of the Blockchain Association of Singapore (BAS), joining the likes of Visa, PWC, Ledger, Algorand, and Tezos, to promote the growth and development of blockchain technology in Singapore.
Aside from supporting several institutions to study blockchain use cases, the exchange has its own Research & Insights team that publishes monthly reports on different blockchain topics, ranging from security to market size analysis.
PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to receive up to $7,000 on your deposits.