JERUSALEM, Oct. 2 (Xinhua) -- Moshe Hogeg, owner of Beitar Jerusalem, the most popular soccer club in the state, signed an agreement on Tuesday with Tel Aviv University to set up a research Blockchain institute.

The institute will operate in the framework of the university's school of management. Hogeg contributed seven million new shekels (about 1.92 million U.S. dollars) for this purpose.

Similar institutes operate, among others, at Stanford and Columbia universities in the United States.

The institute will allocate resources for multidisciplinary research to develop the knowledge and practices for applying Blockchain technologies in business and other fields, such as health and law.