NeoResearch is preparing to grant the first Neo-oriented scholarship to a graduate student in Brazil’s university system. In a recent interview on the Neo News Today podcast, NeoResearch co-founder, Igor Coelho, discussed the scholarship creation process and how he hopes it can be replicated by other blockchain entities in Brazilian universities.

NeoResearch is a Brazilian developer community with strong ties to academia that focuses on optimizing the Neo blockchain, particularly Neo’s consensus mechanism. Since its founding, the NeoResearch team has participated in blockchain events based in Latin America, connected Neo Global Development researchers with Brazilian universities, and hosted workshops.

Beyond its engagement with developers and organizing local activities, NeoResearch wanted to establish a better bridge with the university system. Coelho said, “So, we worked towards a contract that could allow us to give scholarships to students.”

In a follow-up conversation with NNT, Coelho noted Brazilian lawmakers have yet to regulate cryptocurrencies, which added a layer of complexity to the scholarship creation process. To establish a legally sanctioned scholarship, a Brazilian-based company must convert cryptocurrency-based donations and investments into fiat. Therefore, the scholarship will be funded by a Brazilian enterprise managed by NeoResearch co-founder, Vitor Coelho. Despite the lengthy process laden with bureaucratic hurdles, Igor Coelho noted:

The good thing is that, when you have the first [contract], it’s much easier to have the second, the third, [and so on]. So, we believe that it’s important not just for Neo because the students will learn more about Neo technology, but also for the blockchain in Brazil. Because, many other major groups can also do similar [scholarships], and we can power blockchain here… The contract is finally ready, and we already have the first student that’s very interested in blockchain. He is going to start soon, and we hope that next week we are managing the final signatures to make this move on.

The first Neo-oriented scholarship will be given to a student at the Universidade do Estado do Rio de Janeiro who had previously collaborated with the NeoResearch team. Once approved, the student will specifically work on Neo3 and advanced smart contract development.

Looking forward, NeoResearch intends to ensure a successful outcome with the first scholarship recipient. Then, they aim to initiate new partnerships with professors in other universities to host future scholars.

The full interview can be found below: