According to a press release published on September 27, Ripple, launching a social impact program called Ripple for Good.
Finance the initiative will be the firm ($25 million) and third party investors ($80 million). The funds raised will go to educational and financial projects.
The press release says that Ripple is still evaluating the projects that have applied for participation in the initiative. However, that the choices are likely to focus on educational programs in the fields of science, technology, engineering, mathematics, and financial technology.
According to representatives of the firm, education is a key driver, contributing to a wider understanding, adoption and dissemination of innovations in business, Finance, computer science, politics, and so on.
Ripple has already contributed to educational programmes related to the blockchain, cryptocurrencies and financial technology. Within the University Blockchain Research Initiative, launched in July this year, the company has donated $ 50 million to 17 universities around the world.
Ken Weber, Head of Social Impact for Ripple, said:
"We are working to ensure that innovation in banking and payment sectors were available everywhere and to everyone. The possibility of their use should be even for those who do not have full access to banking services".
Ripple for Good will work in collaboration with RippleWorks — profit organization under the control of one of the founders of Ripple's Chris Larsen, which coordinates social projects and volunteers with experience in various fields. Today RippleWorks work with 70 projects from 55 countries.
It is noteworthy that the famous Hollywood actor Ashton Kutcher, one of the main investors in Ripple, this spring donated $ 4 million XRP on the needs of the wildlife Fund, which is run by American TV star Ellen Degeneres.
In June of this year, chief technology officer of the exchange Coinbase Brian Armstrong has announced the launch of its own charitable initiative called GiveCrypto.org. The main goal of the project is the distribute donated funds in the form cryptocurrencies to those in need to provide universal access to an open financial system.