The company that rewards its customers with cryptocurrencies for the use of their services

Today, the XRP is the third most popular cryptocurrency in terms of market capitalization (the share of an asset in the total crypto market), leaving behind bitcoin and ether. Ripple, XRP's cryptocurrency company, has a problem, according to a New York Times report: Although people market XRP, they do not use it.

By use, we mean to do something other than buying or selling like speculative investments. Because you can not yet use cryptocurrency in your neighborhood grocery store, Ripple focuses primarily on people using their XRP to make international money transfers. If I have 2000 dollars that I want to send to a friend in London, I would convert my dollars into XRP, I would send it to my friend in the UK, who would convert it into euros (or n? whatever currency he wants). Ripple has already partnered with financial institutions and international payment providers to make it happen

And what is the best way to get people to use a currency? Make sure they have a lot of them. And Ripple ensures that people have a lot of XRP, giving them. In March, Ripple donated $ 29 million in XRP to a charity to buy school supplies in US schools. At an appearance at Ellen 's show in May, actor / investor Ripple Ashton Kutcher submitted on Ripple' s behalf a value of US $ 4 million from XRP to the company. NGO The Ellen DeGeneres Wildlife Fund.

However, Ripple donates XRP to charitable organizations. It's also rewarding people who use XRP. In October 2017, the company awarded $ 300 million in XRP to the RippleNet Accelerator program, designed to reward financial institutions using three Ripple products, including xRapid, which specifically uses XRP. Then, in May, Ripple created Xpring, an initiative that helps fund the development of XRP-centric startups.

Ripple can play such an important role in the way people use XRP, because of the way XRP is generated. currency While the number of bitcoin transactions determines the number of bitcoins in the world (more transactions = more mines = more bitcoins), all XRPs in the world (100 billion pieces) were simply created in 2013. Ripple owns the majority of Ce XRP, which has led to charges that the company can, and has artificially influenced the XRP market. It also means that Ripple has a lot of XRP to handle

Now, no one can say for sure if Ripple's initiatives will actually help the XRP move from a speculative investment to a frequently used asset. But given the bad publicity that Ripple has recently encountered (including criticism in a British court and a US class action suit), donating millions to charities should at least help the company improve its public image. 19659009] About Journalism