IOHK, the parent firm behind the Cardano project, has donated $500,000 in ADA tokens to the University of Wyoming (UW). The gift announcement took place on February 14 at UW’s Marian H. Rochelle Gateway Centre.

UW claims to be one of the first universities to accept donations in crypto. It said this donation is the largest crypto gift it has received, and it is among the largest crypto donations to a public university.

According to Charles Hoskinson, IOHK founder and CEO, the potential real-world applications of blockchain are limitless. He claims IOHK’s donation to the UW’s Blockchain Research and Development Laboratory will catalyze the realization of that potential.

Hoskinson mentioned that what motivated IOHK to choose to invest in UW is its Blockchain Taskforce’s supportive business environment. He added that, this investment will help to bolster Wyoming’s burgeoning blockchain revolution at large.

According to Cameron Wright, the interim dean of the College of Engineering and Applied Science, the college embraces this new collaborative relationship with IOHK. He added that this donation will enable students in the college to work together with IOHK to push the envelope on blockchain technology, including software, hardware and new blockchain applications.

The lab will support graduate students and faculty members to develop practical hardware and software applications of blockchain technology. These applications will have real-world use cases in smart contracts, cryptography, authentication, supply chain management and cryptocurrency.

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