Ripple, a San Francisco based blockchain company said to be one of the best firm to work for, has announced a partnership with Tipping Point, putting forward a grant of $1 million for poverty alleviation in the Bay Area while also helping people who can’t make both end meet in the region.
With its Ripple for Good initiative launched last year, Ripple’s determination to make positive changes worldwide is gaining fruition.
Now, the firm is supporting the diverse mission-driven organizations and initiatives having the power to increase financial inclusion across the world.
“Nearly a third of the world’s adult population is unbanked with almost 75 percent living in poverty,” Ripple said in an update.
“Without access to savings and credit, economic mobility is next to impossible—leaving the unbanked and underbanked trapped in a never-ending cycle of poverty.”
“Over the past several years, San Francisco and the surrounding Bay Area have developed a reputation for increasingly widening wealth inequality and the data are sobering,” the statement added.
Now, one in three people in the Bay Area are too poor to meet their basic needs, and it takes five minimum wage jobs in the region to make ends meet.
Therefore, Ripple is partnering with Tipping Point to make the Bay Area financially equitable and inclusive. Ripple team are putting heads together with Tipping Point’s experienced leaders to focus on increasing upward economic mobility for Bay Area workers and families.
“Ripple employees are eager to support Tipping Point and its grantees through their personal giving,” the firm has said.
“Ripple already matches its employees’ donations to any nonprofit on a dollar-for-dollar basis. Now, when San Francisco based Ripple employees give to Tipping Point or any of its local grantees, Ripple will match their donations two-to-one.”
Tipping Point, in its unrelenting effort, has raised more than $150 million to support, house, employ and educate people in the Bay Area. In 2018, Tipping Point helped 21,000 poverty-stricken people, now Ripple want to be part of the solution.
CEO at Ripple (XRP) Brad Garlinghouse Blasts JPM Coin
Ripple (XRP) CEO Brad Garlinghouse has blasted the newly launched JPMorgan Chase Coin, branded as JPM Coin, saying the digital asset lacks the interoperability that could make it an outstanding idea worth buying into.
At the 4th Annual DC Blockchain Summit in Washington D.C. during an interview yesterday, Brad lambasted JPM Coin.
While dismissing the usefulness of the asset owing to the fact that it is still a proprietary in-house asset, he said the move may cause other banks to launch their personal asset.
He said, fragmentation, which is the other of the day in the financial services world today may set in through the newly launched coin.
“This guy from Morgan Stanley was interviewing me last week, and I asked him, so is Morgan Stanley going to use the JPM Coin? Probably not. Will Citi use it? […] Will PNC? And the answer is no. So we’re going to have all these different coins, and we’re back to where we are: there’s a lack of interoperability,” Cointelegraph quoted him as saying.
“Let’s think about this. [JPM] announced the JPM Coin for institutional customers. If you give them a dollar as deposit, they’ll give you a JPM Coin, that you then can move in the JPM ledger. Wait a minute, just use the dollar! I really don’t understand […] what problem that solves.”