The Ripple Donation
Ripple continues its line of strategic moves to be a currency that is circulating in the speculative markets (exchanges) and in general society in various ways. The company recently announced its donation of twenty-nine million dollars on Donorschoose.org to fund all the requests on the platform.
The Ripple donation will mean or, at the very least, should mean big things for the company from a public relations standpoint as well as a circulation standpoint as this will mean that the Ripple donation is being used to fund the future of society, the youth.
The Ripple donation also means that the more people will be able to know and learn about Ripple because of how it has affected them (directly or indirectly). Specifically, the parents of the children that go to the schools that will be affected by this Ripple donation, the youth themselves and teachers and other faculty members of the schools that are affected by this Ripple donation.
Details of the Ripple Donation
The Ripple donation is said to be the largest ever reported donation of cryptocurrency to a single charity, and the largest ever to Donorschoose.org. (Maybe, the Pineapple Fund might have had equivalent donations.)
Funds will be used to purchase classroom materials for 28,210 public school teachers in all fifty states.
The company stated:
“Every Rippler, from the executive team to our newest hires, started their careers in one place — the classroom. It’s in this pivotal setting that children’s dreams are forged and legacies begin.”
Then, the company tied the event and the value back to its mission and vision of establishing an Internet of Value.
“Take, for example, Ripple’s mission to establish an Internet of Value: a world where money can move like information. In part, it’s the teachers we encounter in our formative years that enable us to pursue ambitious goals like this.”
The company has made the gift through its native currency the XRP digital token, which was converted into US dollars and then used for the necessary purposes by the recipients.
A representative from Ripple states:
“DonorsChoose.org’s track record speaks for itself — they are highly effective at improving the quality of education and the experience of teachers and students across America. We’re proud to work with them to support classroom needs across the country.”
This move by Ripple can be considered a strategic one as it has been able to effectively reach a wide range of people across all fifty states.
Similar Events like the Ripple donation
Ripple has also made investments via their XRP currency in startups as well. These actions show that the company is serious about finding more ways to gain adoption and grow their reach across sectors of society in business and in education.
Ripple provides one frictionless experience to send money globally using the power of blockchain. By joining Ripple’s growing, global network, financial institutions can process their customers’ payments anywhere in the world instantly, reliably and cost-effectively. Banks and payment providers can use the digital asset XRP to further reduce their costs and access new markets.
With offices in San Francisco, New York, London, Sydney, India, Singapore and Luxembourg, Ripple has more than 100 customers around the world.
DonorsChoose.org is the leading platform for giving to public schools. Teachers across America use the site to create projects requesting resources their students need, and donors give to the projects that inspire them. Since its founding by a Bronx teacher in 2000, 3 million people and partners have given over $650 million to projects reaching 27 million students.