Ripple announced the creation of a program Ripple for Good, the corporate social program that will support potential organizations and initiatives to expand financial inclusion around the world. The program also will focus on STEM (Science, technology, engineering and mathematics), education, financial technology and financial literacy, which are key factors of a new and comprehensive global digital economy.
For Good with Ripple, the Ripple will have a financial impact in the form of additional distribution in the amount of 25 million U.S. dollars. These 25 million are in addition to 80 million dollars in donations that the company made this year at the moment.
Ripple will cooperate with leading universities in the field of education around the world that support advanced research and innovation in the blockchain, bitcoin and financial technology through a research initiative Blockchain University Research Initiative, which was launched in June.
– We recognize the unique role of academia in development and encourage the adoption of these new, turning the game technologies, and we are pleased to support the work that was already carried out by teachers and students in this area. We especially seek to cooperate with universities, who study the socio-effective uses for the blockchain and cryptocurrency – stated in the announcement of the Ripple.
This is not the first Ripple using the field of education, as evidenced by their support at the beginning of this year for public school teachers through DonorsChoose.org.
Of course, many well-known financial companies, foundations and nonprofit organizations already working hard to attract more people in General, but very balanced, are often ineffective and unjust global financial system. Today more than two billion people do not participate in the formal financial sector. This is what Ripple wants to fix it.
– We believe that remittances and micro-transactions can be faster, cheaper and safer. Microloans and financing for small and medium enterprises, especially those headed by women, may be more accessible and affordable. The global flow of information and capital for social and environmental benefits could be simplified. – stated in the announcement Ripple
Thanks to the innovative technology of Ripple and growing global reach, the company hopes to bring something new and different from the standard, to help resolve persistent problems. Ripple claims that their goal is to make the benefits of the revolutionary global payment system more affordable and accessible to all. Two billion poor people can become full economic citizens. That’s what promises the Internet of values.
We need to stop being self-righteous destroyers and instead focus on building that will be able to solve real-world problems. If we focus development of the technology of the blockchain on this one, more than two billion poor people can become full economic citizens – said Ripple co-founder Chris Larsen.
Ripple also recognizes that they will have to find partners for their ideas. One of the organizations to which you have applied Ripple is a non-profit organization RippleWorks, founded by Chris Larsen and Doug Galen. RippleWorks has extensive experience of finding, funding and supporting social projects in many sectors. RippleWorks has a wealth of experience in the field of financial participation, and because of this Ripple, and drew attention to it.
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