Four Princeton alumni have pooled $20 million to fund a new research project on blockchain and the decentralization of power.
The group includes big names in the crypto and finance spaces. They are principal and co-chief executive officer of Fortress Investment Group Peter Briger Jr., co-founder of Ethereum and CEO of ConsenSys Joseph Lubin, founder and CEO of Pantera Capital Daniel Morehead and CEO of Galaxy Investment Partners Michael Novogratz.
The project will investigate potential uses for blockchain in finance, economics, voting, news and other areas. It will also look into the societal impacts of these technologies, according to a statement from Princeton.
A university spokesperson confirmed the total amount of the donation when reached.
“The technology is moving fast, so bringing a wide variety of experts together with the engineers who are building these platforms is critically important for students and for society,” said the dean of the School of Engineering and Applied Science Andrea Goldsmith.