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Ripple For Good – Solution To Financial Exclusion?

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Ripple For Good - Solution To Financial Exclusion?

An enterprise blockchain-based payment solution, Ripple, has made public its impact program called Ripple For Good. Basically, this project will focus on education and financial inclusion related projects. To successfully kick off this project, it raised some $80M USD for it. In addition, Ripple is committing another $25M USD, bringing the total to over $105M USD. With such an impressive start, its team is already assessing some relevant projects with a view to ascertaining how to disburse the funds. Who says that blockchain industry is not impacting the world positively?

Ripple Is Giving Back to the Society

The idea that fuels this cause is Ripple’s unrepentant belief that education, most especially STEM and fintech, is the powerhouse of the 21st century innovation. Through the University Blockchain Research Initiative, Ripple has contributed to blockchain, fintech and cryptocurrency teaching and research. Without a doubt, the goal is to encourage broader comprehension, adoption, and innovation in relevant fields. Beyond question, these modern technologies are applicable in business and finance, law and policy, and most importantly, computer science. Therefore, the Ripple For Good project will focus on the real-world use cases and other applications. Not to mention the potentials for social impact.

Ripple’s Mission Is on Course to Become a Reality

Despite its legal challenges, Ripple has a clear-cut mission. As you might recall, the Ripple team came into the industry in the hopes of reshaping how money moves around the world. To this end, Ripple is deploying innovative technologies in banking, ensuring that payments remain accessible and available. Accordingly, Ripple’s product set and interests mirror an organization that is committed to using all the resources at its disposal. They want to bridge the huge chasm of global financial exclusion.

Ripple For Good Teams up with RippleWorks

To accomplish its mission, Ripple For Good will liaise with RippleWorks, a nonprofit that Chris Larsen and Doug Galen co-founded. Such collaboration had one goal – to support social ventures in many different sectors. While the interest of RippleWorks cuts across a broad spectrum of industries, Ripple For Good will ensure that the emphasis is on education and financial inclusion. By learning from and building on RippleWorks, Ripple For Good hopes to tackle the worrisome challenge of financial exclusion around the world. Therefore, the Ripple team will directly visit organizations and initiatives to support them. The team will also embark on hands-on voluntary work to make long-lasting impacts.

Official Statement

In his view, the co-founder and CEO of RippleWorks, Doug Galen, said that at Ripple they believe that technology can improve lives. As a result, Galen says, Ripple has been supporting RippleWorks for four years and counting. The CEO noted that RippleWorks has worked on 70 projects across 55 countries, improving the lives of millions of people. On the partnership between RippleWorks and Ripple For Good, he said that it validates Ripple’s commitment to leverage its team, resources, and technology in order to enrich lives.

 

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