Hong Kong-based cryptocurrency exchange Crypto.com, known for its industry-standard security measures, announced on Thursday that it would donate an undisclosed amount to the Crypto Research Lab at the University of Pennsylvania (UPenn). analysis of Security and privacy in this digital revolution. The cryptocurrency exchange has signed the deal to fund blockchain research over the next two years.
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According to official blog postDonations to UPenn’s new Crypto Research Laboratory Fund will be used to conduct research on how cryptography and programming can combat growing security and privacy concerns in real-world blockchain projects.
Eric Anziani, COO of Crypto.com, said:
The focus of the University of Pennsylvania’s Crypto Lab will explore new approaches to additional privacy and security features, as well as being very useful for a wider range of real-world blockchain applications. We are delighted to support the foundations of this Blockchain Lab within these respected academic programs.
The announcement also highlights that UPenn will form a new research center at the School of Engineering and Applied Sciences with this two-year research gift. This study will focus on providing transparency and trust to crypto-oriented companies when it comes to privacy and security.
Crypto.com aims to expand blockchain security
In particular, this is not the first time Crypto.com has supported an academic initiative for research on blockchain technology.
Last month, the cryptocurrency exchange unveiled a four-year research gift to the Massachusetts Institute of Technology (MIT) Digital Currency Initiative. And that research project will conduct research to improve Bitcoin security and usability.
Similarly, the crypto company sponsored the establishment of the Secure Blockchain Initiative in March under the administration of Carnegie Mellon University. This project aims to improve the security of the blockchain and spread a better understanding of the digital ecosystem.
Not only that, but in the same month, Crypto.com achieved membership in the Singapore Blockchain Association. Bringing cryptocurrency exchanges to the lines of giants like Visa, Algoran, Ledger, Tezos and PWC, fueling the growth of blockchain technology in the mainstream.
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As the most recent achievement, Crypto.com presentation “Shopify merchants can now extend their reach by enabling Crypto.com Pay in their online stores and giving customers more ways to buy,” they announced on Tuesday that they partnered with Shopify. This collaboration is aimed at making the Crypto.com Pay app the preferred payment tool for online merchants looking to use cryptocurrency for their business.
Here is the official announcement from Crypto.com:
To welcome Shopify merchants to Crypto.com Pay, Crypto.com is waiving 0.5% payment fees for one month. Promotion is valid until 30 June 2022.
In addition to contributing to institutions conducting external blockchain research, Crypto.com has its own Research & Insights team. The team publishes monthly reports on several topics, including market sizing analysis and security.
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