Over $105 Million In New Ripple's Fund To Impact Society - Ripple (XRP) News. Thursday, September 27
Ripple launches social impact program "Ripple for Good"
The initiative will allocate around $105 million to fund educational projects
Ripple does not stop being the talk-about of the week. Whether it is because of its most recent product that promises to revolutionize cross-border payment systems next month, or because its cryptocurrency is working hard to kick Ethereum out of the rank 2 in the top 100 cryptocurrencies by market cap, this blockchain technology has made it into the headlines of the last 7 days.
Now, the blockchain payment processor firm headquartered in San Francisco has announced the launch of its social giving program with a special focus on promoting and funding educational projects around the world, and it’s called “Ripple for Good.”
The project will count with the aid of another Ripple-related nonprofit startup, RippleWorks, due to its experience working on social causes such as education, healthcare, medical and financial aid, among others subject, via more than 70 projects conducted across 55 countries.
Head of Social Impact for Ripple, Ken Weber, commented on the role Ripple has in transforming society, and how they need to work in order to bring the benefits of new technologies to as many people as possible.
“If we are truly committed to transformative global change, we will work to help ensure that innovations in banking and global payments are available everywhere to everyone, among unbanked and underbanked populations and in economies and economic sectors that serve the greater good. Our goal is to deliver on the promise of an Internet of Value for all,” he said.
As of right now, Ripple has donated an estimated of $105 million to educational projects – divided in $50 million to 17 universities worldwide to encourage research and development of blockchain technology and cryptocurrencies, as well as to boost their adoption; $ 30 million to fully cover the costs of all 35,000 classroom projects at DonorsChoose, an educational crowdsourcing webpage; and the last $25 million are allocated in this new program.
Doug Galen, co-founder and CEO of RippleWorks, expressed his feelings towards this news:
“Today’s announcement to create an even deeper alignment with RippleWorks is another validation of Ripple’s long-standing commitment to leverage its technology, financial resources and team to improve lives. RippleWorks is thrilled to have even more of Ripple's help to solve the massive challenges facing people throughout the world.”
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