Ripple launches new social program “Ripple for Good”. The initiative will focus on promoting projects from the sphere of education, as well as the availability of financial services.
According to a press release, Ripple while considering the projects, determining which of them will become the constituent elements of the initiative, but agreed that the focus will be on educational programs in science, technology, engineering and mathematics (approx. the approach known by the acronym STEM) and financial technology (FinTech). $80 million — this donation has already been made in favor of such projects, the Ripple adds $25 million from its own funds.
The company believes: education is “a key factor [ … ] that will stimulate a wider understanding, adoption and innovation in the field of business, Finance, computer science, politics, and so forth.”
As you know, crypto startup has already made a contribution to the education of the blockchain, cryptocurrency and Finance by pledging $50 million to 17 universities worldwide in the University research block chain initiative launched in June of this year.
Ken Weber (Ken Weber), the head of the Ripple, which is responsible for social programs, spoke about the scale of the new program, stressing the importance of the issue global financial inclusion:
“We will work and contribute to innovations in banking and global payments were available everywhere and to everyone among the population that has no access to banking services or has not fully, and in the economies and sectors which serve the common good”.
Ripple for Good, allegedly, will work in cooperation with RippleWorks existing non-profit organization, one of the founders of which is the Executive Chairman Ripple, and Chris Larsen (Chris Larsen). RippleWorks brings together social organizations and volunteers with teams with the necessary experience in various fields, to date working on “70 projects in 55 countries”.
Recall that in March the Ripple donated $29 million to a charitable organization that helps schools. Another large donation in XRP, it was made by Hollywood actor and one of the most famous investors Ripple Ashton Kutcher (Ashton Kutcher): in may, he has transferred $4 million XRP to Fund wildlife TV presenter Ellen DeGeneres (Ellen starring Jimmy Fallon to sing), working with the problem of endangered species.
Recently, Ripple has also taken part in the charitable action of Madonna to help children in the African country of Malawi.
Another well-known social initiative in Cryptoprotected project the CEO of cryptocurrency exchange Coinbase Brian Armstrong (Brian Armstrong) GiveCrypto.org whose purpose is to distribute funds raised from donations through a “direct cash transfers in the form of cryptocurrency” and, as in the case of Ripple, to “ensure universal access to an open financial system.”