Princeton University seeks to highlight the potential of blockchain and cryptocurrencies to disrupt and realign power throughout society through its novel Venture Forward event.
Princeton University has said that four cryptocurrency industry heavyweights, as well as alumni of the university, are currently contributing to the initiative.
Peter L. Briger, Jr. graduated from Princeton University in 1986 and currently serves as Co-Chief Executive Officer of Fortress Investment Group. Joseph M. Lubin graduated in 1987 and is a co-founder of Ethereum and ConsenSys. Other 1987 graduates of the institution who have contributed to the program include Michael E. Novogratz, CEO of Galaxy Digital, and Daniel W. Morehead, founder of Pantera Capital.
According to Princeton University President Christopher L. Eisgruber, the donations will help scholars and researchers "illuminate the impact of blockchain technology and its potential societal implications.
Andrea Goldsmith, dean of the School of Engineering and Applied Sciences, and Jaswinder Pal Singh, a professor at the university, agree that blockchain, a technology that is not centrally controlled, has transformed society.
Blockchain is the new platform for distributing power
Blockchain technology is now undoubtedly part of mainstream society, and adoption in all sectors of the global economy is helping to highlight this growth.
This can be seen in the use of cryptocurrencies, smart contracts and other innovations, the agency said Thursday. Like earlier technological innovations, blockchain and cryptocurrency technologies are disruptive and are already seeing a redistribution of power across financial, political and economic lines of transformation.
"Technology disrupts power all the time, but blockchain is the new platform for doing so. Thinking broadly and deeply about the applications it supports is very exciting and important because we are also generating innovation that pushes the boundaries of the technology itself," Goldsmith said.
According to Lubin, "the collective understanding of the advantages and disadvantages of digital technologies has advanced significantly over the past two decades of digital innovation."
The co-founder of Ethernet is bullish on Web3. In his view, the technology offers society the opportunity to further leverage digital innovation for the benefit of all.
Singh said that the international community has not yet fully grasped the opportunities and potential drawbacks of blockchain. He noted that we are in the early stages, adding that "the decentralization of trust could be as powerful and transformative as the World Wide Web."
To do this, Singh explained, will require a great deal of education and interdisciplinary research. Again, working closely with fast-growing startups will be key.
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