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Ripple donates $29 million XRP!

Ripple donates $29 million XRP!

April 3, 2018 5:57 am,

Ripple, earlier this week, announced on their official site about their support to America’s Public Schools with $29 million XRP donation.

Ripple wrote on their website: “Every Rippler, from the executive to our newest hires, started their careers in the classroom, the place where children’s dreams are forged and legacies begin.”

This donation is the largest-ever cryptocurrency gift to a single charity, in which Ripple fulfilled thousands of requests from teachers on the website DonorsChoose.org. This has reached out widely, supplying books, school stationery, technology, field trips, and other resources to nearly 1 million students and 30,000 public school teachers across all 50 states, as stated by Ripple.

The donation comes in the form of XRP, the cryptocurrency’s scalable digital asset which aims to enable real-time global payments from anywhere in the world.

Ripple also notes its selection of DonorsChoose.org as its donation platform of choice stems from the fact that the website’s same principles of inclusion and accessibility to education mirror Ripple’s focus on promoting more inclusion and accessibility within the global economy.

At the current market price, the donation equals just over 50 million XRP. According to Ripple, this money fulfilled every request listed on the organization’s website on the 26th of March.

Ripple’s XRP token, currently trading around at $0.50, is the third largest cryptocurrency by market capitalization, which amounts to over $20 billion.

Ripple is not the first company to donate cryptocurrency to charity. As previously reported by Cointelegraph, Ethereum (ETH) cofounder Vitalik Buterin partnered with decentralized payment network OmiseGO to donate $1 million in ERC20 tokens to the African charity GiveDirectly. The Ripple Foundation’s remarkable act of generosity and kindness has helped to improve the lives of many teachers who often use their minimum wage to make up for the lack of resources in their classes.

We also came across Charles Best’s, founder of DonorsChoose.org. statement: “We are awestruck by the generosity of the Ripple team. Their gift will provide learning materials and experiences to more than a million students, overwhelmingly in low-income communities. I doubt that there has ever been a day when more classroom dreams came true.”

This is one of the recent instances where an organization is putting their wealth to a good cause.

Read this for related information: https://www.nytimes.com/2018/03/30/us/donors-choose-donation-ripple.html

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