- The IOTA Foundation recently contributed a massive amount to the Imperial college for further improvements to the Circular economy.
- They are here to decentralize, empower, and bring opportunities for everyone, says Dominik Schiener, Founder of the IOTA foundation.
- The fund is for further support to the researcher interested in tokenization and sustainable business models.
The IOTA Foundation recently announced a significant offering to the Imperial College. The European non-profit organisation donated £1 million to the prominent academic institution.
What does this contribution offer?
The IOTA Foundation and the Imperial College are partnering to initiate research to promote a circular economy by creating an entity for it. The research facility called the Imperial IOTA Infrastructure or the 13 LAB will be located inside the Dyson School of Design Engineering in London.
The circular economy attempts to transform the global economic model to minimalize or eliminate waste production. And therefore, economic agents would adopt a system solution framework to reduce environmental harms, says Ellen McArthur Foundation.
The research will be aimed at potential improvements to the Circular economy supported by Decentralised Ledger Technology(DLT).
Robert Shorten, Professor of Cyber-Physical system and Deputy Director of the Dyson, will be one of the prestigious faculty from the college that are a part of the lab. Shorten will be leading the initiative and has a specialization in smart mobility, sharing economy, smart cities, and DLT.
Dominik Schiener, Founder of the IOTA foundation, expressed his thoughts on the crypto industry through his Twitter account. He believes it has a positive impact and creates opportunities for people.
The benefits brought by the Circular Economy lab will be open-source and accessible for everyone. And for this, Schiener invited the IOTA community to take part in the initiative, saying that this is the first of several philanthropic activities from the IOTA foundation. And asked all to boost the impact together.
The Foundation further highlighted that the offer to the Imperial College would be for doctoral studentships support and postdoctoral fellowships as well. It will be for the researchers interested in topics about tokenization, sustainable business models, etc.
According to Peter Cheung, Head of the Dyson School of Design Engineering, they are very grateful for the support by the IOTA Foundation. One of the vital research sectors for the Dyson School is Sustainable growth, and this grant is a great way to research on the technological drivers of the Circular economy.