Ripple, the blockchain payment giant, has reportedly announced the launch of its social impact program ‘Ripple for Good.’ The project is expected to collect more than $105 million for lots of social projects that are currently proceeding.
The official announcement was made today by the fintech firm based in San Francisco, that says that this social giving program is aiming to provide help and support to the educational projects that can secure an institutional and financial presence from all around the world.
The project is named, ‘Ripple for Good’, and it is in collaboration with RippleWorks which is a not-for-profit organization that works for several social causes such as education, healthcare, medical aid and more. It provides its services in 55 countries around the world and helps make it a better place for the ones who are in need.
According to Ripple, this project funding is aiming to assist in education, and in the sectors of science, engineering, technology, mathematics, and fintech. It also stated that the Ripple for Good would in particular focus on real-world use and application cases that hold the potential for a scalable social impact as a result.
Chris Larsen, Ripple executive chairman, and co-founder said, “We have to stop being self-righteous disruptors and instead focus on building things that solve the real world problems. If we focus the blockchain movement on that, over two billion underbanked people can become full economic citizens.”
The statement shows that the main focus of the project is to generate enough means for the people who are in need of financial assistance to help with their educational facilities, which can be termed genuinely as a real-world problem. The massive impact of blockchain can be useful for a giant project such as Ripple for Good to reach more people in its wake.
The initiative might be a huge step for the world economy, but it isn’t the first time that Ripple has shown intentions of carrying out social giving projects through financial aid. According to previous reports, ripple donated $50 million among 17 universities all around the world to fund it in research and adopt the learning curve for blockchain technology, digital payments, and cryptocurrency.
Among the funding universities who benefited from Ripple’s offerings for blockchain education are UC Berkley, Princeton, IIT, MIT, Korea University, University College London and Australian National University to name a few. It has previously shown the ideas and intentions of Ripple and their noble and carefully executed social giving program to commit in the education sector around the world and bring a difference in the future of world economy and digital industry.