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ITAM is selected as the first Latin American university to be sponsored by Ripple’s UBRI

The Instituto Tecnológico Autónomo de México (ITAM) is the first Spanish-American study house to join the Ripple sponsored and financed UBRI program.

As part of the program, ITAM will be added to the list of more than 30 universities that are already part of the program. “University’s Blockchain Research Initiative “ (UBRI). UBRI is Ripple’s blockchain company that conducts scientific research into blockchain and other technologies.

Latin America continues to be in the broad initiative of companies interested in the application, introduction and development of technologies such as blockchain. The UBRI program aims to support universities in research areas in developing new curricula and technical-practical projects. UBRI allows each study house to create its own projects and focuses, and Ripple offers both teachers and students funding, as well as technological and strategic support.

ITAM is selected as the first Latin American university to be sponsored by Ripple’s UBRI
ITAM is selected as the first Latin American university to be sponsored by Ripple’s UBRI

To be part of the academic institutions that are part of the UBRI, they must have certain criteria, First, they must have 1) existing practice centers, as well as teachers and students who are already active and productive in related subjects; 2) that they have high student demand and student activities; 3) they bring a variety of perspectives from a variety of academic disciplines and technologies; and 4) contributing to the overall geographic diversity of the program.

Ripple announces on its official page that it is not currently looking for new academic partners. However, it is expected that this project will be expanded further.. All of these academic institutions it has worked with are leaders in teaching, research, innovation in blockchain, distributed computing, cryptocurrencies, cryptography, digital payments and other related subjects.

Blockchain has to start in academic minds

Ripple’s initiative was launched in 2018 and aims to give technical research and development in the world of blockchain a boost. To this end, around $ 50 million has been allocated as an incentive for the part of the university that enables the implementation of this program.

The objectives proposed by the program include:

• Collaborate on technical research and development to foster deep understanding and innovation in the blockchain

• Create a new curriculum to meet the needs of students who want to learn more about blockchain, cryptocurrencies, and digital payments

• Stimulating ideas and dialogues between students, faculty, technology workers and executives on topics of mutual interest

Why Mexico?

The answer to this question is simple It is estimated that the Latin American country has seen the cryptographic sector increase by at least 90% since 2018, especially the sector dedicated to blockchain. The use of this type of technology has visibly increased. Many traditional companies have adjusted to workable solutions that have helped improve inefficient business processes.

The data further show that, In Mexico, 90% of citizens do not use electronic payments. This is obviously a market that deserves the attention of industry and companies looking to create a digital culture.

Ripple, like other large virtual currency companies, is focused on using money with freedom, ease, and in a digital way. Hence, a population with bad banks opens up a number of opportunities for young people to be professionally trained in this type of money technologies and in this way prepare for a growing job market.

Hence, the importance of the program that links Ripple to ITAM does not lie in funding, since it is not about the creation of applications or commercial technology projects, but about the opportunity to train students on blockchain together with the Studienhaus in a state-of-the-art technological environment and with the advice and support of management specialists.

In this context, Gustavo Salaiz, academic coordinator and professor of the ITAM Fintech Diploma stated, “We want to ensure that students have the right mix of skills for a world where information and transactions take place in distributed ledger technologies, Ripple’s UBRI project will be help us prepare our students for the digital future of financial services. “

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