High-profile Princeton University reportedly commenced a new project to deep-dive into the “decentralization of societal power” via blockchain, in a bid to explore the vast depths of it’s social capabilities.

Specifically, for the release, Princeton’s Venture Forward campaign was reportedly at the receiving end of $20 million in donations, contributed by top-tier alumni Peter Bridger from Fortress Investment, Ethereum co-founder Joseph Lubin, Pantera Capital CEO Daniel Morehead, and Galaxy Digital’s Mike Novogratz.

The project reportedly works towards a primary goal of deep-diving into the measures in which modern technology, nominally blockchain, is able to interfere with and change social norms, just as different technologies like the printing press and the internet have throughout history.

A March 11 video from the university additionally revealed that the project is currently in the early phase, focusing on grasping the understanding of opportunities and challenges that come with crypto and blockchain. 

“The initiative will convene scholars across disciplines to understand the potential benefits and pitfalls of blockchain and other technologies, and their potential to disrupt centers of societal power.”

Princeton’s Venture Forward campaign reportedly operates as an engagement and fundraising campaign to develop community and alumni engagement, acquire critical philanthropic assistance for the University, as well as sharing Princeton’s defining principles and their impact on the world.

The university reportedly expressed a belief that concentrating on decentralization will amplify development in three areas of study.

An official post from the university further stated that it will help the school grasp the understanding of “the underlying engineering behind blockchain and related technologies”, find out new uses for blockchain in finance, voting, news, and elsewhere, and determine “the implications that such technologies could have for society.”