Ripple makes a donation to help more than 35000 classrooms

Ripple, a digital currency and an open payment network, has recently donated $29 million for a social cause. The commendable contribution will be going to the education of many children in schools across the US.

DonorsChoose.org is a well-known fundraising platform where many teachers have requested for various equipment and other materials in order to enhance education standards. That includes library books, computers, field trips, trombones and more.

The crowdfunding platform has been used by many teachers who have asked for money to make a lot of changes in the lives of their needy students. Some of them have been using it for a while now. Ripple has heard these requests and has taken on to cover all of them. Indeed, the crowdfunding platform Donorschoose.org is exceptionally excited to see the generosity of the company.

The company website puts up a brief on why they were convinced to take a massive step in the field of education. Here it goes:

Every Rippler, from the executive team to our newest hires, started their careers in one place — the classroom. It’s in this pivotal setting that children’s dreams are forged and legacies begin. …We’re thrilled to announce that Ripple and its executive team are giving back to America’s teachers with a $29 million dollar donation in XRP to DonorsChoose.org.

The fundraising platform states that Ripple will be helping more than 35,000 classrooms across the country. The donated cryptocurrency (as they paid in XRP) will soon be converted into dollars and will be used to meet the needs of various teachers who have raised requests on the cloud funding platform.

The initiative began because an appeal was sent to Chris Larsen from Ripple who has been supporting the non-profit platform in the past years. Ripple also mentioned that their donation is made as an acknowledgment of what every Rippler has experienced in their schooling.

As per the history of Ripple, this is the largest donation made for a cause such as this. Even outside the company, this seems to be the largest donation that cryptocurrency sector has ever observed. In fact, Ripple in a recent blog post has encouraged others to follow this trend of donating to a real need.

Nevertheless, this donation by Ripple has been appreciated by many other organizations. In fact, it was even brought up in the show ‘The Late Show’ by Stephen Colbert. He mentioned that the fundraising website DonorsChoose.org was down for some time because Ripple has funded all 35000 classrooms on the fundraising platform. He goes on to say that Ripple’s act of kindness will hopefully spread across all the world.

Quick Ripple 101

Founded back in 2012, Ripple is one of the most well-known and reputed digital currency in cryptocurrency market. Recently, Ripple has seen a bearish trend as the value for the digital currency went down rapidly. It was a result of the various things including the advertising policing that came up over the last few months on Google, Facebook, and most recently on Twitter. However, this seems to be a temporary issue, and it looks like Ripple will find its way back into the market.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of Teaching and Learning via Flickr