- Ripple invests in using blockchain technology to revolutionize the global legal infrastructure.
- Ripple University Takes The Lead In this work and makes plans to expand its global footprint.
Ripple News Today – Everyone who has been paying attention knows that blockchain technology has the power to change the world. This fact cannot be disputed. Ripple has seen the potential of blockchain and it is doing everything it can to explore this emerging technology. A few years ago, Ripple founded its blockchain university initiative which is aimed at providing blockchain education in collaboration with universities. This year, the law school at the Australian National University kicked off its blockchain law program.
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The blockchain law course, which was provided in association with RBRI, is going to teach students about the influence of blockchain technology in the legal industry. According to Cointelegraph, the curriculum is being run by Scott Chamberlain in collaboration with Lauren Weymouth and Richard Holland. Apart from exploring the influence of blockchain technology, students will need to learn about the legal problems surrounding smart contracts and distributed ledger technology. They will also consider how blockchain and other emerging technologies can be used to automate laws.
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According to Chamberlain, students who take the class will be able to develop their own whitepapers. A part of the project, which is called Lex Automagica, has been in play since 2018 when Chamberlain partnered with UBRI. In support of this program, UBRI donated $1 million in funding to Chamberlain to work on Lex Automagica and other implementations of blockchain technology in the legal industry. ANU is one of the first but isn’t the only university that is currently exploring the application of blockchain technology in law.
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Ripple’s University has seen the potential of blockchain technology in simplifying many of the complex processes in today’s legal system. Chamberlain said;
“For example, imagine a world in which legal disputes could be resolved without having to engage the courts? This could be achieved through the advancement of smart contracts, which ANU and other law schools we partner with – such as UPenn Law, Rutgers Law, and Berkeley Law – are looking into, alongside policy and regulation.“
Ripple News Today – Ripple University Is Working On Expanding Its Reach
So far, up to 35 universities have joined UBRI but this is just the beginning. Ripple still intends to get more partners and contribute more money to funding. As long as the universities are willing to use the money for blockchain research, they will receive the required funding from UBRI. With time, their reach will become global.