Ripple announced its new social impact program, Ripple for Good, that looks to support education and financial inclusion. Ripple’s social impact program is geared toward supporting mission-driven organizations and initiatives.
— Chris Larsen (@chrislarsensf) September 27, 2018
Ripple for Good
To date, Ripple has donated $80 million toward education and charities aligned with its mission. The blockchain-based company announced it will allocate $25 million more this year.
For education, Ripple for Good is partnering with leading universities across the globe to support increased research and innovation in blockchain, fintech, and cryptocurrency. This will all take place through Ripple’s University Blockchain Research Initiative (UBRI) that was initiated back in June.
Ken Weber, a Ripple employee who wrote the press release, states, “On financial inclusion, we’re fully aware Ripple for Good is the new kid on the block.”
Weber states that there are already a number of well-known financial services, foundations, and non-profits that are already hard at work to bring more individuals into our shared, but “tiered” global financial system. Ripple firmly believes that the current financial system is inefficient and inequitable.
RippleNet & XRP
With its proprietary blockchain-based technology, the company’s hope is to bring something new to the table.
Chris Larsen, Ripple co-founder, and executive chairman said:
“We have to stop being self-righteous disruptors and instead focus on building things that solve real world problems. If we focus the blockchain movement on that, over two billion underbanked people can become full economic citizens.”
Ripple for Good’s goal is to make the benefits of a revolutionized global payments system more accessible to everyone.
This week, Ripple revamped its website and showcased RippleNet as its main proprietary blockchain project. RippleNet is a revamped xRapid, which uses XRP for liquidity. With the company’s new Ripple for Good social impact program, the company can push the need for RippleNet even further.
According to CoinMarketCap, XRP is currently trading at $0.528 a coin, up 0.58% in 24 hours.
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