The Institute for the Future (IFF) at the University of Nicosia announced that it would enter into a partnership with PumaPay for Advancing Blockchain Research and Development. This was according to reports from Nicosia, Cyprus on Tuesday 13th November 2018.

PumaPay is a Cyprus-based blockchain project which focuses is on the development of a payment protocol named PullPayment. The partnership will see PumaPay become a founding member of the Institute for the Future at the University of Nicosia. The IFF is a novel interdisciplinary research center at the University that was created with the aim of improving and creating awareness about blockchain and Artificial Intelligence. The new research center also aims to show how blockchain and AI can be effectively integrated in different sectors in the society.

Blockchain and AI research experts expect the technologies to reach commercial viability by 2020 and have termed them game changers. Both of them have been predicted to be possibly disruptive in the wrong hands and can have considerable effects on economies, legal systems and education sectors, just to name a few. This is one of the reasons that prompted creation of the IFF. The IFF is envisioned to become a global leader in academic research and innovations in different disciplines.

PumaPay’s Payment Protocol

A unique payment protocol developed by PumaPay is underway. This protocol will make it easy for merchants to accept payments in cryptocurrency. In addition, this payment protocol is highly versatile and convenient and has been compared to credit cards. PumaPay hopes to redefine the payments system by bringing convenience to the blockchain. Other global brands have vowed to follow suit. They include Wix, Fashion TV, and IronFX.

Embracing 4th Revolution technologies

The University of Nicosia will go down in history as one of the first to embrace the 4th industrial revolution technologies. Blockchain is regarded as a 4th revolution technology and thus blockchain research is a massive step towards global recognition. The University launched the first ever Master’s Program in Digital Currency. The introduction of the program sees the University add to its growing list of investments in digital currency research.

“Blockchain promises greatness in the coming days. It is a massive game changer, not only just for digital markets, but also possibly in every aspect of life,” remarked PumaPay CEO, Yoav Dror. He went on to further add, “As we continue developing this payment solution, we will keep in touch and cooperate with brilliant minds across the tech industry and exchange ideas. As we develop our payment solution, we compare ourselves to a bridge. A bridge that stands between the worlds of academic research and real-world applications of the blockchain technology.”

Academic institutions and corporate partnerships

In another statement, George Giaglis, Director of IFF at the University of Nicosia commented, “We are excited to welcome PumaPay as an IFF founding member. It is important to bring large corporations and innovative start-ups together since IFF has an aspiration to become a leading global research center.” The director was quick to recognize PumaPay for their expertise in blockchain-based payment protocols. He was of the opinion that academic institutions should forge partnerships with corporates in a bid to improve know-how and create innovative solutions.

University of Nicosia partnership with PumaPay opens up an avenue for massive growth that should be embraced by institutions across the globe. Blockchain and AI have massive potential, but it remains to be seen whether the two technologies will be embraced for their beneficial or destructive nature.