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Marshall Receives $5M Gift to Fund Blockchain Initiative

The University of Southern California (USC) Marshall School of Business has received a $5 million gift to establish a cryptocurrency- and blockchain-focused initiative.

Investment firm Van Eck Associates gifted the multi-million dollar donation earlier this month to establish the VanEck Digital Assets Initiative at Marshall, where undergraduate and graduate students will have access to courses on cryptocurrencies, NFTs, and other digital assets, Fortune reports.

“While we are still working on the details of new courses and specific research under the VanEck Digital Assets Initiative, there is no question that blockchain and its wide-ranging business applications are already on the minds of our students,” Geoff Garrett, dean of the USC Marshall School of Business, tells Fortune. “The VanEck Initiative enables us to dedicate more resources to these topics to the benefit of students looking to launch careers focused on making real-world impact fueled by these technologies.”

POTENTIAL OF BLOCKCHAIN

The global blockchain technology market size is expected to reach $1,431.54 billion by 2030. And some business schools are ramping up their programming and resources to help create opportunities for students to engage in the cryptocurrency world.

Wharton recently received a $5 million grant in the form of Bitcoin to support programs within its Stevens Center for Innovation in Finance. The donation is the largest cryptocurrency gift the university has ever received.

“This investment marks a new era and mode of giving to the University and lifts up opportunities for students to become tomorrow’s leaders in finance – through exceptional coursework and transformative interactions with policymakers and industry experts,” Wharton Dean Erika James says in a press release. “The blend of innovative philanthropy with the outcomes this promises for students makes this a truly exciting moment for the Wharton community.”

At Marshall, the new VanEck Digital Assets Initiative will create opportunities for blockchain research and industry partnerships. Additionally, funds will go towards recruiting faculty and industry leaders to join the B-school.

“The VanEck Digital Assets Initiative at Marshall specifically helps our students develop a strong foundation in areas that are rapidly emerging, such as blockchain and cryptocurrency, and helps them understand the transformative influence of other technological innovations on finance and commerce,” USC President Carol L. Folt says in a statement. “We’re so grateful for the foresight that drives this gift.”

Sources: Fortune, Grand View Research, Inc, Wharton