Ripple’s partnerships more often than not make the news mostly because it affects the price of the XRP cryptocurrency. However, the most recent collaboration with San Fransisco based Tipping Point speaks more than just economics.
Tipping Point is a non-profit organization found in 2005 that aims to eradicate poverty in the San Fransisco Bay Area. According to their estimates, 1.7 million inhabitants of the area fail to meet the basic human needs.
A the spokesperson for Ripple mentioned in the blogpost that:
As a San Francisco-based company, Ripple and its employees care deeply about the community in which they live and work. So we reached out to Tipping Point and asked, “What can we do to help?”
Monetary Grants and Social Responsibility from Ripple
Ripple has announced a grant of $1 million to Tipping Point to fight poverty in the Bay Area. Ripple aims to improve the efficiency and efficacy of the remittance system in the area.
Ripple’s employees have also extended their support to the cause of the organization. Interestingly, altruism is a practice that is promoted widely in the firm.
The blog post also mentioned that:
“Ripple employees are eager to support Tipping Point and its grantees through their personal giving. Ripple already matches its employees’ donations to any nonprofit on a dollar-for-dollar basis.”
Ripple’s partnership would also foster micro-payments using the products provided by Ripple. The partnership not only aims to alleviate poverty, but also to promote cryptocurrency and blockchain highlighting its extreme transaction capabilities, ease of access and low cost.