Ripple is now experiencing a significant amount of success as it is trialed by several global banking platforms but hasn't demonstrated a wide range of use cases outside of remittance between large-scale traditional financial institutions.
Ripple (XRP-USD) starts Xpring initiative aimed at enlisting entrepreneurs and their businesses to use XRP - the cryptocurrency and the smart ledger - to build an ecosystem around the crytocurrency, TechCrunch reports.
According to a report released by Ripple on May the 14th, the company will be working with entrepreneurs making sure that they have the key essentials to grow their business and prosper. With this initiative, Ripple seeks to support entrepreneurs and developers with their XRP-related projects.
XRP are ideal for entrepreneurs that are looking to solve problems across identity, trade finance, gaming, virtual goods, real estate, and more.
In order to offer the best support, we need a great team.
The initiative is being spearheaded by former Director of the Facebook Developer Network, Ethan Beard, who served at the position from 2009 - 2012.
Ripple reveals its Xpring initiative which aims to invest, provide grants and incubate startups which in exchange would agree to use both the XRP ledger and XRP coin. In return, said entrepreneurs will use Ripple's in-house digital asset, XRP, as well as the XRP Ledger.
Stefan Thomas, inventor of the Interledger Protocol (ILP), creator of BitcoinJS, co-founder of TxtBear, who just launched a new venture Coil to use XRP and the Interledger Protocol (ILP) for various micropayments applications, such as facilitating "bite-sized" purchases of media. At Facebook, we saw companies in areas like gaming, music, and new use our platform to become big business.
Blockchain technology and digital assets like XRP will provide artists with new distribution channels and revenue streams. He is now "pursuing several endeavors that will use XRP to improve artists" ability to monetize and manage their content.
Classifieds renting service Omni has also come forward with promises of integrating XRP into its marketplace. In April, they invested $25 Million in XRP to Blockchain Capital's $150 Million VC Fund. Blockchain Capital now runs over $350 Million in asset including investments in companies like Coinbase, Circle, and Kraken.
Ripple is putting in so much effort to expand the use of its digital currency (XRP) it developed into new segments and verticals beyond the banking and payment space where the firm is focused. The new Xpring project will encourage developers and entrepreneurs to contribute to the Ripple ecosystem and create services for XRP, which is now the third-highest ranked cryptocurrency.