On Thursday, BitDAO, one of the world's largest decentralized autonomous organizations with over $2.5 billion assets under management and its partner Mirana Ventures, appear the creation of EduDAO with eight of the globe'south top universities including the University of California Berkeley, MIT, Harvard and Oxford University.

EduDAO is financed by the BitDAO treasury and will classify $11 million each twelvemonth to funding project grants, enquiry and standalone product evolution with $33 million in initial capital. The funds will go to academic research for next-generation blockchain and Spider web 3.0 technologies.

"Tomorrow's well-nigh promising products and designs are being devised at the university level right now; this partnership facilitates that growth at a scalable level by giving students and faculties admission to sorely needed investment capital," said John Allen of Mirana Ventures.

Roman Ugarte and Virat Talwar, co-presidents of the Harvard Blockchain Gild, said: "Placing the power of targeted funding and data distribution in the easily of a decentralized collective of students, faculty members, and alumni is a revolutionary stride frontwards for institutions such every bit Harvard."

Jocelyn Weber Phipps, deputy director for UC Berkeley'south Middle for Responsible, Decentralized Intelligence (RDI), added:

UC Berkeley is honored to partner with EducationDAO and further build on our new Berkeley RDI Centre's efforts to act as a hub and platform for collaborations globally with other organizations & researchers, as exemplified in leading the first DeFi MOOC with thousands of students enrolled from 30+ countries and our non-dilutive Berkeley Blockchain Xcelerator open to teams effectually the world.