Ripple announces a significant multi-partnership to aid billions of individuals.
Ripple, a blockchain-based financial technology corporation, has announced intentions to assist over 3.7 billion unbanked or underbanked individuals worldwide. In a tweet published on Earth Day, the company asserts that the global climate crisis is one of the century’s most urgent challenges and that blockchain innovation in carbon markets can aid in attaining global environmental goals.
Since 2018, Ripple has been collaborating with various fintech companies, foundations, universities, social entrepreneurs, and non-governmental organizations (NGOs) to advance this initiative. The initiative has already contributed $150 million and the partners are presently active in more than 80 countries.
The cryptocurrency company asserts that the adoption of cryptocurrency and blockchain technology could increase economic participation, opportunity, and sustainability for billions of people without access to banking services. Ripple views delivering low-cost and always-on money transfers in emerging markets and developing a central bank digital currency platform for governments working to improve financial inclusion as a potential solution to the problem.
In addition, Ripple seeks to advance the cryptocurrency industry’s sustainability. Ripple believes that its XRPL blockchain is the world’s first carbon-neutral blockchain, and its architecture has the potential to provide green cryptocurrency solutions and more efficient carbon markets. The company has set a goal of achieving carbon neutrality by 2030, if not sooner, through emission reduction, the use of renewable energy, and investment in innovative carbon removal initiatives.
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