Ripple has decided to launch a new charity venture related to social and education projects. According to a press release published last week, the San Francisco-based company announced the creation of Ripple for Good. The charity will focus on education and financial inclusion.
Ripple for Good Charity
As part of its plan, Ripple will be using more than $100 million dollars to invest in an important number of high-quality projects.
Ken Weber, Head of Social Impact for Ripple, said that the benefits of blockchain technology and cryptocurrencies should reach a large number of individuals.
Weber commented about it:
“When we reflected on the unique role Ripple could play from a social impact standpoint, we kept landing on the idea that the benefits of these new technologies should reach as many people as possible.”
The company will be working to ensure that innovations in banking reach everyone around the world. Ripple for Good will also be collaborating with RippleWorks. RippleWorks is a nonprofit that has been co-founded by Chris Larsen and Doug Galen. Ripple for Good will be learning from RippleWorks to address financial exclusion around the world.
Mr. Galen said that Ripple was built based on the belief that the technology could change lives. RippleWorks has already worked on 70 different projects in 55 countries. The main goal is to improve the lives of patients, students, and other individuals.
“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,” said Doug Galen.
Ripple has already contributed to the community after donating $50 million dollars to several universities. This investment is related to is University Blockchain Research Initiative (UBRI).
One of the many charitable initiatives in the cryptocurrency space was the Pineapple Fund. At UseTheBitcoin we have written that a Reddit user that became a millionaire during Bitcoin’s last bull market, decided to donate part of his fortune. According to the official site, he donated more than $55 million dollars to different charities worldwide.
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Carlos is an international relations’ analyst specializing in cryptocurrencies and blockchain technology. Since 2017, Carlos has written extensively for UseTheBitcoin and other leading cryptocurrency sites; with over 2,000 articles published.