The University of Wyoming has announced the upcoming launch of the Bitcoin Research Institute in August. The university noted that the Bitcoin research institute would help deepen understanding of the cryptocurrency.
Bitcoin activist Bradley Rettler, who also serves as an Associate Professor at the university, shared the news on X.
University of Wyoming Launches Bitcoin Research Institute
Rettler is also set to serve as the new institute’s director. Stressing the importance of the new institute, Rettler noted that “much academic Bitcoin research is quite poor because it’s done by people who don’t understand Bitcoin.”
He further emphasized that the industry needs more “high-quality peer-reviewed” publications to provide clarity on Bitcoin and how it works. In 2018, a study by Professor Camilo Mora from the University of Hawaii said that Bitcoin could make global warming worse by 3.6° Fahrenheit (2 degrees Celsius) by 2048.
Rettler, however, pointed out that the study missed some important details. It didn’t consider the difficulty adjustment and didn’t know there was a block size limit. He explained, “These mistakes make their way into journalism and policy. Bitcoin is multifaceted in theory and even more so in practice. Journalists can’t be experts, so they rely on academics. Too many of those academics have let them down.”
More About The Bitcoin Research Institute
The Bitcoin Research Institute (BRI) will commence in August. The institute will run summer workshops and host weekly seminars, among other things. Furthermore, BRI is classified as a nonprofit. And accepts Bitcoin donations for research.
This isn’t the university’s first step into the digital assets space. It launched the Center for Blockchain and Digital Innovation in 2020. This center is part of UW’s business school. Furthermore, it focuses on how the business world can benefit from blockchain technology. However, the new institute will focus solely on Bitcoin.
The Growth of Crypto in Wyoming
Wyoming is becoming a top Bitcoin state in the US. This is largely due to the influence of pro-Bitcoin Senator Cynthia Lummis and Caitlin Long, CEO of Custodia Bank. Interestingly, Lummis shared huge news at the Bitcoin 2024 conference in Nashville. She announced a strategic Bitcoin Reserve bill. This bill would have the US buy 5% of all the 21 million bitcoins that will ever exist.
Furthermore, Wyoming has also passed bills that protect digital asset holders. One such bill prevents state courts from forcing people to reveal their private keys.
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