An alumnus of the Pennsylvania-based Carnegie Mellon University has funded a research program in the school. Nikolai Mushegian, who is also a former MakerDAO Contributor, will put down 10,000 MKR (44.3 million), to a project focused on decentralized applications.

According to a post on Mushegian’s website, 3,200 MKR has already been given to Carnegie Mellon. The program will also receive another 6,800 MKR, spread over 1-3 years. The post reads:

“The purpose of this donation is to establish a research program for decentralized applications/protocols and game-theoretic mechanisms.”

Mushegian also added that the funds will sponsor several programs. It will cater to students who are running related Master’s and PhD programs.

As for motives, the developer highlights two. The first, according to him, is just “good karma.” The second is what he calls “rent-seeking behaviour” from the biggest names in the industry. This also includes big tech firms and banks. To solve this problem, significant resources will be needed.

“I see a few key areas where it is obvious that we can make major improvements. But without resources…we risk this industry becoming monopolized by people who are better at filing patents than writing working code.”

Back in April Ripple Co-founder Chris Larsen donated $25 million in XRP to the San Francisco State University’s (SAFU) College of Business. Along with his wife Lyna Lam, the donation is to support the study of fintech ecosystems.

Image Credits: Pixabay

The post Carnegie Mellon Alumnus Donates Over $4 Million To The School For DeFi Research appeared first on Latest Crypto News.



This content is synced from the rightful owners. Copyright on text and images belong to the original source.

--
This article was first published on: Latest Crypto News