Monday, October 3, 2022
HomeTechnologyPrinceton University initiates research on blockchain technology with $20 million investment

Princeton University initiates research on blockchain technology with $20 million investment

Princeton University has begun an endeavour to investigate the decentralisation of societal authority using blockchain technology in order to delve into the immense depths of its social capacities. According to sources, Princeton’s Venture Forward campaign attracted $20 million investment for the launch from high-profile graduates like Fortress Investment Group’s Peter Bridger, Ethereum co-founder Joseph Lubin, Pantera Capital CEO Daniel Morehead, and Galaxy Digital’s Mike Novogratz.

The research aims to investigate how contemporary technology, particularly blockchain, might interfere with and influence societal norms in the same way that earlier technologies, such as the printing press and the internet, have done in the past. The research will bring together experts from several disciplines to better understand the potential advantages and drawbacks of blockchain and other technologies, as well as their ability to destabilise centres of social power.

Princeton University believes that emphasis on decentralisation will help three fields of study thrive. According to an official university post, it will assist the university in understanding the underlying engineering behind blockchain and related technologies, discovering new uses for blockchain in finance, voting, news, and other areas, and determining the implications that such technologies could have for society.

Princeton’s School of Engineering and Applied Science will oversee the new endeavour, which will be overseen by Professor Jaswinder Pal Singh, who has served on the Blockstack PBC Board of Directors since 2019. According to a university release, Singh has adopted a very collaborative research approach to establish how blockchain might result in the most good and the least harm.

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Vaishali Goel
Technology enthusiast, explorer and academic scholar. Currently exploring the crypto world. Join me in my journey to see how crypto, NFT and Metaverse will change the world.
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