In the biggest crypto donation ever, Ripple has donated $29 Million to fund 35,000 teacher projects in the US. Naturally, the payment was made in XRP and converted to USD to fund the projects which will ultimately help over one million students across the country, with basic classroom supplies to school trips. The donation was done through donorschoose.org, a non-profit that makes it easy to bridge schools and classrooms in need with donors who can help.
Executives of Ripple, the creator of a blockchain system to more efficiently transfer currency globally, XRP, said the donation reflected the gratitude they had for the teachers in their own lives. “We care about giving back to our community and we collectively value the importance of quality education in developing the next generation of leaders,” said Monica Long, SVP of Marketing at Ripple. “Education is definitely an area we really care about, and you can expect from us further investment there,” she said.
This is the largest donation in the 18 year history of DonorsChooses according to the crowdfunder for teachers’ projects. “The donation fulfilled 35,647 requests from 28,210 public school teachers in every state. Teachers at 16,561 public schools — or 1 in 6 of all the public schools in America — will receive books, school supplies, technology, field trips, and other resources vital for learning,” they say.
Ripple who we have written about before here 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.