Join us on our latest UBRI Campus Collaborations, a series that delves into Ripple's University Research Initiative (UBRI) partnerships with leading academic institutions, spotlighting their groundbreaking work in blockchain education and innovation.
Ripple's University Blockchain Research Initiative (UBRI) is committed to advancing blockchain education by partnering with top universities globally, fostering research and innovation. Cornell University stands at the forefront of this movement, thanks to its partnership with Ripple and the leadership of key faculty, including Susan Joseph, the Executive Director of the Cornell FinTech Initiative.
In this blog, we explore Cornell’s contributions to advancing blockchain education for our next generation. Through a deep dive into UBRI’s impact on campus from Susan Joseph, we discover how Cornell is paving the way for digital asset adoption. With Ripple’s support, Cornell has been able to accelerate its efforts to integrate blockchain education into its curriculum, offering students hands-on experience and industry insights.
Ripple's Partnership with Cornell
Through Ripple’s UBRI, Cornell has benefited from substantial support in developing blockchain-related research and educational programs. This collaboration has resulted in several groundbreaking initiatives including 15 events, 21 fellowships, 50 research projects and no less than 45 published papers. Notably, the DEFT Lab, funded by UBRI, enables cutting-edge research into blockchain, decentralized finance (DeFi), and the underlying economic challenges. Ripple has also played a significant role in student engagement, hosting hackathons, sponsoring projects, and participating in key discussions on digital currencies, payments, and Central Bank Digital Currencies (CBDC).
In Conversation with Susan Joseph, Executive Director of the Cornell FinTech Initiative
Susan Joseph brings a wealth of expertise to Cornell’s FinTech Initiative. With a background as a JD/MBA and extensive experience in blockchain, fintech, and legal consulting, she has worked across industries from insurance to supply chain management. As the co-founder of S&A Cryptic and a leader in Diversity in Blockchain, Inc., she is well-versed in the regulatory and practical applications of blockchain technology.
We also got a glimpse of how Ripple’s UBRI partnership has influenced blockchain education and research at Cornell, highlighting key projects and the university's role in shaping the future of this field.
Q: How has Ripple's partnership influenced blockchain education and research at Cornell?
A: I can think of three specific examples of projects that have been particularly influenced by this UBRI collaboration. The first is the DEFT Lab sponsored by Ripple’s UBRI which enables cutting edge research on blockchain, DeFi, underlying economics, and challenges. The second example is the payments innovation hackathon wherein Ripple hosted a specific challenge and participated with the students. The students and Dean were very excited to see the interest by Ripple and some creative ideas came out of the hackathon. The final example is the invite-only Chatham House Rule Roundtable on stablecoins, payments, and CBDC (Central Bank Digital Currency) where Ripple representatives participated and helped shape the conversation. An anonymized Report was published with analytics to memorialize and share the work accomplished.
Q: You consult across various sectors like insurance, real estate, and supply chain. Could you provide examples of how blockchain technology is creating tangible benefits in some of these areas?
A: Blockchain technology is revolutionizing industries across the board, and I've seen firsthand how it's creating tangible benefits in sectors like insurance and supply chain. Claims processing can be improved applying this technology. First Notice of Loss is an area P&C insurers are considering. Parametric contracts that automatically settle claims such as drought insurance for farmers is another area where the insurance industry employs this technology. Across supply chains I've seen the traceability and transparency of tracking goods improve using this technology. I've also worked on CO2 track and trace projects for the mining industry and these types of experimentation hold a lot of promise.
Q: How do you foresee blockchain technology evolving, particularly in the academic context?
A:The strategies we use to insure the FinTech curriculum stays relevant and keeps up with these new technologies includes: continuous curriculum review, strong industry partnerships for research collaboration and student internships, specific courses focusing on blockchain knowledge, hands-on leaning like our fintech intensive, case studies, simulations, and potential student labs, and research and innovation conducted by faculty and students. I cannot emphasize enough how support by Ripple's UBRI helps us stay relevant.
Q: What advice would you give to students or professionals who are looking to enter the blockchain and fintech industries? Are there specific skills or areas of knowledge they should focus on?
A: Entering the blockchain and fintech industries requires a combination of technical skills, business strength, a passion for innovation and a healthy dose of curiosity. To get started, read, read, read, and read some more. And then, to gain a solid understanding of fundamental concepts in computer science, finance, and economics. This should give you a strong foundation.
Look for opportunities to gain practical experience through internships, projects, or extracurricular activities. For instance, we support the undergraduate FinTech Club, have worked with the Blockchain Club, and encourage the formation of clubs so that students are able to participate in more focused areas than what they learn in class. There is a certain amount of initiative students can undertake such as connecting with people working in the blockchain and fintech industries through networking events, online communities, and industry conferences.
Cornell has a strong alumni association and many are involved in this industry and are willing to speak to students. This is a rapidly changing industry which is part of what makes it so exciting. It also means you should try to stay updated on the latest trends, technologies, and regulatory developments. Follow industry news, attend conferences, and read relevant publications. Finally, develop problem solving skills, engage in critical thinking, grow your communication skills and ability to act in a team.
Student Perspectives
Cornell’s partnership with Ripple has provided students with unique opportunities to engage with blockchain. For instance, students participating in the payments innovation hackathon not only gained hands-on experience but also received mentorship from industry professionals, including those from Ripple. This exposure to real-world challenges and opportunities has been instrumental in preparing students for careers in fintech and blockchain.
Campus Initiatives and Events
Cornell has hosted several UBRI-sponsored events, including workshops and hackathons that bring students, faculty, and industry experts together. These events provide a platform for exploring new ideas, solving problems, and driving innovation. The payments innovation hackathon, in particular, has been a highlight, encouraging students to develop creative blockchain solutions with real-world applications.
Future Plans and Goals
Looking ahead, Cornell plans to deepen its collaboration with UBRI, with more workshops, research projects, and hackathons on the horizon. The long-term vision is to continue expanding blockchain education, equipping students with the skills and knowledge necessary to lead the next wave of technological advancements.
Cornell University, through its partnership with UBRI, is playing a pivotal role in advancing blockchain education and research. With the support of Ripple’s UBRI, Cornell is providing students and faculty with the tools and resources they need to explore the frontiers of blockchain technology. As Susan Joseph highlighted, the future of blockchain is bright, and Cornell is poised to be a leader in this evolving landscape.
For more insights into UBRI and its collaboration with universities around the world, be sure to follow Ripple Insights and check out UBRI’s latest Impact Report.
Stay tuned for future blog posts in our UBRI Campus Collaborations series!
