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.

Our top trading bots

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.

$3.3B Bitcoin mining company Griid to list on NYSE via SPAC deal
In a filing with the United States Securities and Exchange Commission on Tuesday, special purpose acquisition company, or SPAC, Adit EdTech Acquisition...
Report claims each Solana TX uses less energy than 2 Google searches
A transaction on the Solana network takes less energy than two Google searches and 24 times less energy than charging your phone, according to a Thursday...
Animoca Brands raises $5M for NFT marketplace, Quidd
Quidd, a marketplace for digital collectibles and a subsidiary of Animoca Brands, has raised a total of $5 million in private pre-sales and an initial DEX...
DBS Bank joins Hedera blockchain’s governing council
The Hedera Governing Council has welcomed Singapore’s oldest bank, DBS Bank, as its newest member, making it the first Southeast Asian lender to join the...
EOS Falls 11% In Bearish Trade
Investing.com - EOS was trading at $4.3760 by 04:02 (08:02 GMT) on the Investing.com Index on Wednesday, down 10.65% on the day. It was the largest one-day...
The long game: Institutional interest in crypto is just getting started
The old adage “The crypto market is not for the faint-hearted” was put on full display recently when the total market capitalization of the industry dipped...
Korean crypto exchange Upbit to halt withdrawals for unverified users
South Korean cryptocurrency exchange Upbit will soon halt services for unverified users.On Saturday, the company officially announced a set of changes to...
Presearch, Frontier and Algorand book double-digit gains as altcoins soar
On Sept. 9, bulls made a strong showing as Algorand (ALGO) and Solana (SOL) each steamrolled to new highs even as Bitcoin (BTC) continues to flounder under...
$10B asset manager registers new Bitcoin fund with SEC
Stone Ridge Asset Management, the alternative investment manager behind New York Digital Investment Group, has filed a new prospectus with the United States...
NYDIG set to bring Bitcoin adoption to 650 US banks and credit unions
New York Digital Investment Group (NYDIG) has partnered with the Atlanta-based enterprise payment behemoth NCR to enable Bitcoin (BTC) services for banks...
Listed companies, trusts and ETPs now control almost 7% of the Bitcoin supply
More than $6.5 billion worth of BTC — or close to 1% of the crypto asset’s entire capitalization — is held by 19 publicly-listed companies. A further 5.75%...
Ethereum Falls 10% In Bearish Trade
Investing.com - Ethereum was trading at $2,477.09 by 05:03 (09:03 GMT) on the Investing.com Index on Friday, down 10.14% on the day. It was the largest...
Bitcoin bull run won’t end ‘any time soon’ as whale buying hints at new $52K floor
As Ether (ETH) passed $4,000 and multiple altcoins saw their own all-time highs on Monday, data shows that there is still more buying appetite to come.Traders...
Solana (SOL) hits new highs as DApps, DeFi and stablecoins join the network
The arrival of institutional investors and the rise of decentralized finance (DeFi) has been an incredible boon for the entire cryptocurrency sector but...
Wanted Truth About BTC? Nakamoto Allegedly Promises to Write a Book
The illustrious father of Bitcoin Satoshi Nakamoto is allegedly preparing himself (themselves?) to write a book, telling people all the truth regarding...