Stanford University could soon come up with cutting-edge blockchain innovation through a new $4.5 million partnership with Cardano (ADA) developer Input Output Global (IOG).

The company will fund a so-called Blockchain Research Hub at the university over three years, with an eight-person steering committee, comprised of six Stanford professors and two IOG officials, determining the workload.

Proposals are open to faculty, undergraduate and graduate students.

Charles Hoskinson, IOG CEO, says that the investment will quicken the evolution of blockchain technology.

“We’ve been dedicated to vigorous research since the inception of the business and our work forms the foundations on which Cardano has been built. Working with leading academic institutions like Stanford to set up these blockchain research hubs is key to our vision. With the Research Hub, blockchain development can grow even faster, based on the new learnings that will emerge, and the hub will add a new layer of validity to our sector that we haven’t always been afforded.”

The steering committee is being chaired by Stanford engineering professor David Tse.

“The Research Hub will be a significant boost to enhance the interest in both fundamental and applied blockchain research at Stanford.”

The first round of proposals for funding are due by November.