Today, Ripple (XRP), currently sitting at 3rd place in terms of market cap ($28.7 billion) has announced the introduction of their new initiative to nurture and build an ecosystem.
The San Francisco based company plans to do this by incentivising new businesses and entrepreneurs over to their platform using grants and investment as bait. In return, the Businesses would make use of the XRP ledger and cryptocurrency alike.
The announcement reads:
“As a major contributor to the XRP Ledger codebase and large holder of XRP, we often hear from entrepreneurs and developers that they’d like support in one form or another to help them with their XRP-related projects. As one of the few blockchain companies with traction for a non-speculative use case, we feel we’re uniquely positioned to support entrepreneurs in a meaningful way.”
To lead the Xpring initiative they’ve decided to bring on Ethan Beard, former Director of the Facebook Developer Network. The new senior VP had this to say: “Blockchain and digital assets have the ability to solve important problems and XRP – with it’s speed, scalability and demonstrated real-world use case – is a great tool for startups and entrepreneurs to build businesses around.”.
The announcement goes on to list a number of entrepreneurs they’ve already offered to support, Including Scooter Braun, an entertainment talent manager who will “use XRP to improve artists’ ability to monetize and manage their content.”. Others include Thomas McLeod, co-founder, and CEO of Omni – a rental company. They plan to use XRP as a currency within their renting and borrowing marketplace.
What are your thoughts on this new initiative? do you think it will bring XRP up in value? Let us know in the comments below.