Scottsdale-based cryptocurrency Dash grants ASU $350K
Jan 22, 2018, 10:29 AM | Updated: 3:20 pm
PHOENIX — Arizona State University has announced a $350,000 extended partnership for a research and development grant with the Scottsdale-based cryptocurrency Dash.
Dash, or digital cash, is one of the many digital currencies that saw rapid growth last year. It started January 2017 priced at $11.22 and was above $700 as of Monday.
Cryptocurrencies are an online, decentralized form of money that doesn’t rely or require control by government or banks.
The rising currency, which focuses on transaction speed and privacy to try to make a more consumer-friendly product, is in the top 20 in terms of market capitalization.
Last August, an initial $50,000 grant from the cryptocurrency was announced to form a Blockchain Research Lab with the Ira A. Fulton College of Engineering at ASU.
According to Dash Force News, the additional grant money from the company will be used to fund the lab and other projects.
The blockchain, the underlying technology of digital currencies, is an online, public ledger that can be viewed by anyone and used to verify transactions.
The technology is being looked at by the research lab to determine the impact it could have on business, finance, economics, mathematics, computer science, and many other areas.
Ryan Taylor, CEO of Dash, talked about the benefits this partnership will have for both parties.
“Dash benefits from gaining valuable independent insights into how we can improve our plans for scaling to massively large numbers of transactions,” he said. “ASU will benefit from gaining access to one of the most innovative teams in the digital currency industry.”
