The Financial Innovation Hub at the University of Cape Town began as a pilot project for the Algorand Foundation’s Algorand Centre of Excellence Programme which was launched in October 2021 with a budget of a total value of 100M ALGO tokens for the next ten years. The ACE programme invites proposals from multidisciplinary centres which advance research and support applied education in the blockchain and cryptocurrency space. In collaboration with faculty members from the School of Economics, the Departments of Computer Science and Information Systems, the Hub will act as a catalyst for fintech innovation at UCT.
This initial 5-year partnership is supported through the Algorand Foundation Grant Program with a USD 2.6 Million (ZAR 37.5 Million) grant and will support UCT in establishing, running and operating the Hub.
The Algorand Centres of Excellence (ACE) programme is a holistic, research, education and community driven endeavor to:
Advance and disseminate multi-disciplinary research in the blockchain and cryptocurrency space.
Design educational programmes for a new generation of blockchain natives, including blockchain courses and student projects, hackathons and accelerators, and grass root student involvement via student-led activities.
Support applied research and education leading to the development of innovative real-world mechanisms, applications and use cases for blockchain.
Foster an inclusive and diverse community of blockchain enthusiasts centered around student and campus initiatives.
Promote social impact and sustainability projects based on blockchain with measurable metrics.
Enhance the capabilities of the Algorand platform, grow its community and ecosystem, and bring us closer to fulfilling the vision of an equitable, inclusive, borderless economy.