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UCT Financial Innovation Hub named centre of excellence
04 August 2022 | Story Nicole Forrest. Read time 7 min.
The Algorand Foundation announced the 10 winners of its Algorand Centres of Excellence (ACE) Programme, with awards totalling US$50 million over five years. The University of Cape Town’s (UCT) Financial Innovation Hub is the only lead recipient in Africa.
The ACE Programme received 77 proposals from over 550 participants representing 46 countries. Winners were selected by an international panel of 27 experts from a diverse set of disciplines. UCT has been awarded the grant alongside a small selection of top international institutions, including Yale University, Cornell University and the Swiss Federal Institute of Technology Lausanne.
“The selection process was incredibly difficult, given how many excellent applications we received,” said Dr Hugo Krawczyk, the Algorand Foundation’s principal researcher and the head of the ACE Programme.
“But we are delighted to see how many bright, talented people around the globe recognise the ability of blockchain technology to fundamentally change and better the world we live in, and we’re very much looking forward to seeing the amazing work the grant recipients do in the coming months and years.”
The grants will fund research and education hubs – each one of which will be an Algorand Centre of Excellence – on university campuses worldwide to enable:
multi-disciplinary research in the blockchain and cryptocurrency space
college courses, hackathons, accelerators and student-led organisations and activities
development of real-world solutions, applications and use cases
social impact and sustainability projects based on blockchain technology
Algorand education and community expansion.
Associate Professor Co-Pierre Georg, who is the director for the new Algorand Centre of Excellence, highlights the opportunities that this interdisciplinary research grant opens up both at UCT and the African continent as a whole.