If the blockchain industry is going to continue its adoption throughout various aspects of the world, the major players in the game are going to need to facilitate this growth. It was recently reported that multiple funds are being created in an effort to foster growth for blockchain start-ups. We saw Binance create a $1billion ‘eco-fund’ just last week. Meanwhile, rival exchange Huobi teamed up with multiple partners to create a $93million start-up fund. These two giants within the cryptocurrency exchange world clearly believe that much growth is still needed.
Not one to be left out, Ripple has made multiple high profile donations in the past months. No doubt, these donations help with their image and attract mainstream customers to their services. Regardless of this, any company that has the means to help grow the industry should absolutely be doing so.
Recognizing the surge in interest in anything pertaining to blockchain, Ripple just announced a massive $50million donation. Ripple has named this donation the ‘University Blockchain Research Initiative’ (UBRI). This donation is to be distributed between various schools throughout the world – 17 to be exact. They represent a diverse selection of institutes from widely varying geographies. Each of the schools will have the freedom to develop their own curriculums, focusing exclusively on blockchain and blockchain related topics. The following are the 17 schools that have been chosen to participate in this opportunity provided by Ripple:
This is just Ripple’s most recent endeavour. Represented by Hollywood mainstay, Ashton Kutcher, Ripple made an appearance on daytime TV this past month. On ‘The Ellen DeGeneres Show,’ they announced the donation of $4million worth of XRP to the ‘Ellen DeGeneres Wildlife Fund.’ Donations like these are fantastic, not only for the endangered animals that will benefit, but because it shows a positive use case for cryptocurrency for the average person watching. That person watching Ellen may not know anything about how the blockchain industry works, but they will know that the companies that make it run are ones that try to share their success with those that can benefit from it.
In addition to the UBRI and the donation on Ellen, Ripple also recently partnered with the industries first real investment fund. In April, Ripple invested $25million in Blockchain Capital. Much like the funds seen with Binance and Huobi, the Blockchain Capital fund is geared towards facilitating growth in blockchain start-ups with potential.
These are all fantastic examples of positive uses of cryptocurrency. Ripple, being the 3rd largest cryptocurrency to date, has the ability to produce these headlines. Hopefully, as the industry matures and other companies experience growth, they too will be able to give back.