National Science Foundation funds $3 Million on cryptocurrency research

Investing | July 31, 2015 By:

The National Science Foundation, a US government agency that supports and funds scientific research, funded roughly $3m on cryptocurrencies research that will be conducted by three American universities.

Cornell, the University of Maryland and the University of California Berkeley will focus on developing new cryptocurrency systems that will address “pain points” attributed to bitcoin and other existing networks.

The Initiative for Cryptocurrency and Contracts (IC3) will also involve Cornell researcher Emin Gun Sirer; Dawn Song from UC Berkeley; and Jonathan Katz, David van Horn and Michael Hicks from the University of Maryland. The funding itself will be used to support the researchers involved with the project.

According to National Science Foundation acting deputy division director Nina Amla, funding for the initiative comes from the Secure and Trustworthy Cyberspace program, an initiative devoted to funding research into cyber security and digital privacy.