Ripple Will Give $25 mln to a Startup That Finds The App For Its Blockchain

Ripple Will Give $25 mln to a Startup That Finds The App For Its Blockchain

The third most worthy cyber-coin in the world Ripple will be used by the self-titled startup, which issues it, to pile a quarter of a hundred million dollars into the fund for seed investment. This way, the company wants to stimulate the next-gen tech application built applying its software.

Ripple Stepping on The Future

Since the inception of 2018, Ripple has been since a lot of changeability. However, it doesn’t stop its leadership to think about the startup’s role in the destiny of the technology. This week, it was announced that the company was going to pile $25 million worth XRP units into the solving of a “problem,” as the chief market schemer at Ripple Cory Johnson explained in an interview with CNBC journalists.

According to his words, the company’s goal is to attract all those entrepreneurs who can find out how else the blockchain of Ripple can be applied in the modern world. It is noteworthy that Ripple, as of writing owns approximately 60 bln of the 100 bln XRP. In particular, Johnson said Ripple looks for intelligent individuals and businesspeople who could address the problem, and it requires money, for sure.

Where is Ripple’s Blockchain Used At Present?

Currently, the blockchain of Ripple is mainly used for real-time remittance arrangements for financial systems. Ripple notified about its collaboration with such large American money transfer companies as:

  • MoneyGram
  • Western Union
  • American Express
  • Santander

It is known that blockchain can be used beyond the realm of cryptos and finances in general, as it gets a wider adoption at the recording of data in the sphere of administration, medicine, shipping and so on. And as it seems, Ripple wants to get the precedence in the tech race.

Johnson even has shown how ambitious the company is, comparing its technology’s prospects to one that iPhone’s software possesses. Notably, iPhone’s core made other helpful private startups prosper. Thus, Johnson said:

"When I got my iPhone I did not think the killer app would be Uber, the most valuable private company in the world, or a competitor to Kodak with Instagram. I don't know what the best use of XRP is going to be, and I hope it's something we can't even think of."

Furthermore, Johnson added that Ripple would benefit, just like iPhone, if it helps other companies to get started.

"A lot of people are going to develop things using XRP, and because it sits on our balance sheet, it will be helpful to us from a valuation standpoint. If somebody starts the next Uber, or Instagram or Salesforce using XRP, that would be great for us."

The fund in question was set off by Blockchain Capital, a “vencap” firm running in the niche of the blockchain tech trend.

As of now, XRP itself is being traded at $0.49, in accordance with Coinmarketcap.com. As per CNBC, the coin increased by about 1% after the company’s announcement concerning the $25 million which are at the investment stake.

What is a Security Token?
Security tokens became very popular, but do you really know what is STO?STO is Security Token Offering, which is identical to an ICO. In this, there...
1 in 7 Chinese Piled in Cryptos, Only 2% Not Familiar With BTC
Chinese are not only aware what cryptos are but they also gladly pile funds into them. The survey results are showing that 1 in 7 Chinese citizens...
WSJ: Bitcoin Trading at Strong Correlation With Traditional Assets
Within the past days, the ratio between Bitcoin and conventional assets markets has been high, writes the Wall Street Journal.What Are The...
Bitcoin’s «Dead» in a Long-Run, Says Young BTC-Millionaire
On December 17, on a day when a year ago bitcoin hit the all-time $19,000 record, the «big daddy» MarketWatch journalist, teen crypto-celeb Erik...
SEC Charges DJ Khaled and Mayweather for Misleading ICO Investors
The American SEC charges two celebrities for pumping up ICOs without letting investors know they were paid off for promotion. These celebs are a...
Crypto Venture Capitalist: BTC Investors Need to Endure As Amazon’s Did
Cyber money venture capitalist, CryptoOracle partner Lou Kerner suggested viewing bitcoin as a survivor like Amazon after 1995-2000 dot-com bubble...
Morgan Stanley Report Implies Bitcoin’s New Institutional Asset Class
A novel report from Morgan Stanley, the American multinational investment bank, states that bitcoin attracts more and more institutional investors...
Venezuelan Petro Available For Public Sale
After months of delay, Venezuela’s dubious cyber-coin Petro has entered the public market. On October 29, the state’s Economy Department informed...
Financial Services Giant Fidelity Launches Crypto Trading Platform
Fidelity Investments, a financial services titan with more than $7 trillion in client assets, has leapt onto cyber-money bandwagon too. This week the...
First Swiss Crypto Asset Management License Issued For Crypto Fund
For the first time in Switzerland Crypto Fund has been authorized to serve institutional patrons in the niche of cyber assets. The document which...