Ripple announced on Thursday the launch of its new social impact program, Ripple for Good. According to Ripple, Ripple for Good will focus on projects related to education and financial inclusion. The company reported that along with the recent donations, that has totaled to more than $80 million, it is committing an additional $25 million to the program.
Ripple for Good will notably be focused on applications and real-world use cases with the potential for scalable social impact. It’ll also focus on STEM, fintech education and financial literacy as key drivers of a new and increasingly inclusive global digital economy. As part of the program, Ripple will be working universities around the globe to support increased research and innovation in blockchain, cryptocurrency and fintech through the University Blockchain Research Initiative (UBRI), which was launched in June.
“We recognize the unique role of academia in developing and driving adoption of these new, transformative technologies and we’re excited to support the work already being advanced by faculty and students in the field. We are especially eager to collaborate with universities that are exploring socially impactful use cases for blockchain and cryptocurrency.”
Ripple also noted that Ripple for Good will collaborate with RippleWorks, a nonprofit co-founded by Chris Larsen and Doug Galen that supports social ventures across multiple sectors, including financial inclusion and education. Galen then added:
“Today’s announcement to create an even deeper alignment with RippleWorks is another validation of Ripple’s long-standing commitment to leverage its technology, financial resources and team to improve lives. RippleWorks is thrilled to have even more of Ripple’s help to solve the massive challenges facing people throughout the world.”