The University of Toronto will start an independent XRP Ledger (XRPL) validator under the Ripple UBRI program.
The University of Toronto, Canada’s largest university by enrollment, has partnered with San Francisco-based tech company Ripple. Under the partnership, the University of Toronto plans to run an independent XRP Ledger (XRPL) validator focusing on payment processing.
With Toronto University being an XRPL validator, the tertiary institution will participate in Ripple’s consensus process, which supports the XRP Ledger’s decentralization. Like every existing node on the network, Toronto University will be ranked based on its consistency, transparency, availability, and reliability.
It is worth noting that the development is part of Ripple’s Blockchain Research Initiative (UBRI) in the North American country. Since the program commenced in 2018, the leading blockchain company has invested a whopping $2 million in Canada’s top colleges and universities over the past five years.
Ripple’s statement on the partnership: ‘This UBRI collaboration strengthens our program’s support for blockchain research in Canada and empowers students with valuable skills for a career in the crypto industry.’
Following the recent partnership, the University of Toronto will join current partners of Ripple’s UBRI program, including Toronto Metropolitan University and the University of Waterloo.
The Ripple UBRI Program
Launched in 2018, UBRI is Ripple’s way of supporting a diverse portfolio of blockchain research, innovation, and technical development at tertiary institutions worldwide.
Ripple committed $50 million toward the success of UBRI at the time of its launch. In the first year, Ripple partnered with 17 universities across the world. Ripple further announced in April 2023 that it has funded over 45 university partnerships through the UBRI program.
According to Ripple’s spokesperson, the leading blockchain company has distributed $47 million so far, with the commitment increasing to $80 million this year.
Japan’s Kyoto University was among the earliest beneficiaries of UBRI. Consequently, Kyoto announced during a seminar in 2019 that it had become the first university in Japan to run an XRPL validator.
The development was shared by Ripple’s VP of Strategy and Operations, Emi Yoshikawa.