Ripple Donates 29 Million XRP to US Schools
Ripple has announced that it is donating 29 million XRP to a crowdfunding organisation dedicated to the American public school system.
At the current market price, the donation equals just over 17 million dollars. According to Ripple, this money fulfilled every request listed on the organisation’s website on the 26th of March, supplying nearly 30,000 teachers and their students with various school supplies and paying for field trips.The money is going to DonorsChoose.org, a non-profit organisation that facilitates donations to classroom projects. It was founded in the year 2000 and in January 2018 announced its millionth funded project. According to its website, as of now it has funded 1,142,998 projects, reaching over 27.5 million students, and funding has been requested at least once from 77 percent of public schools in the country.
Ripple is the third biggest cryptocurrency according to Coinmarketcap.com, with a market capitalisation of almost 23 billion dollars. A message on the DonorsChoose.org website reads: “Our generous friends at Ripple kicked things off by funding all classroom requests on the site.”
Charitable donations made with cryptocurrency increased in 2017 in line with the growth of the industry itself. For example, 70 million dollars in cryptocurrency was donated through Fidelity Charitable in 2017, ten times the equivalent figure in 2016, according to Fortune. It began accepting Bitcoin in 2015.