Business News Asia
Eight of the world’s leading universities, led by UC Berkeley, Harvard, MIT and Oxford, have formed a partnership. The decentralized automated organization (DAO) will provide funding for crisis and skills gaps, with respect to education and research related to blockchain technology.
This DAO will be called Education DAO (EduDAO) and will have access to the funding pool of BitDAO, the world’s most valuable leading DAO organization with total assets of more than $2.5 billion.
“Putting the power of information and funding into the hands of students, staff, and alumni is the next step in our journey to the academic side of Harvard,” said President Roman Ugarte and Virat Talwar. Harvard University Blockchain Club
Until that time, EduDAO will serve as an independent committee that will select $33 million in initial funding for projects, research, and product development, and provide an additional $11 million per year in supplemental capital.
“BitDAO grants will be used to support various activities. In relation to blockchain technology and DAO, it is based on the three pillars of our research institute: research, education, and society,” said Jocelyn Weber Phipps, vice president of research at UC Berkeley.
“We look forward. into collaborating with members of EducationDAO in the future.”