The Algorand Foundation and Israel’s Bar Ilan University (BIU) collaborate to educate Israelis about blockchain technology. A statement from the foundation remarked that part of the partnership will involve a grant for students of the school’s cryptography program and “a further involvement of our blockchain.”
Since most grant recipients are graduate and doctorate students, they are expected to take up research projects on various aspects of cryptography especially, threshold signatures.
Expanding The Algorand Blockchain Globally
Algorand foundation boss, Sean Lee, remarked that “we are excited to support the next graduates from BIU winter school as we educate them on blockchain technology and as they explore the cryptography world. Our goal remains to enhance blockchain adoption globally and the growth of our blockchain community.”
The school further remarked that it would put the lessons on its YouTube channel to allow interested students to access them and possibly, show further interest in the technology. The foundation quickly added that students and project teams could submit projects as the foundation is willing to fund suitable ones.
Algorand’s collaboration with BIU is one of its efforts in facilitating the growth and broader adoption of its blockchain. Four months ago, the foundation reached an agreement with the Drone Racing League (DRL) to promote various Algorand-related projects. Part of this collaboration will involve the introduction of NFTs, fan tokens, crypto-built ticketing system.
Algo Price Action
As is always the case, a network’s activities will always directly impact the price of its native token. Thus, Algorand’s native token wasn’t an exception. The Algorand foundation’s partnerships and funding of various projects have caused the price of its native token to surge by nearly 240% and currently trades at $1.75 as of this writing.
ALGO’s 1-year price chart. Source: Coinmarketcap.
Despite the general crypto market downturn, ALGO has been performing considerably well. It has made over 40% gains in the last fourteen days. The crypto market has been on a downturn for most of last month.
The State Of Cryptocurrency In Israel
Israelis have had rising interests in the crypto industry so much that they held their first Israeli crypto conference last month. The event proved that some top crypto firms are based in Israel, notably the Celsius and Fuse networks. Both networks provide virtual asset-related services in the payment settlement category.
The rising popularity and interest in the crypto sector by the citizens has prompted Israeli authorities to promulgate crypto regulations so that the industry is run properly. The move became important as there have been reported multiple cases of fraudulent transactions involving cryptocurrencies.
Part of the nation’s new regulation mandates VASPs to obtain an operating license from the finance ministry before offering their services. Also, it is now compulsory for these VASPs to provide detailed reports of their operations to the financial regulators, similar to the way banks do. The financial regulator has also mandated the VASPs to take their KYC details more seriously as there might be a need for it at any time.