Ethereum Watch

Ripple is Giving Away XRP to Promote More Real World Use

The third largest cryptocurrency by market cap, Ripple, has been on a spree of giving away free tokens in an attempt to promote more use of the currency. In March, Ripple donated $29 million worth of XRP to charity, and in May, Ashton Kutcher (actor/ripple investor) presented $4 million worth of XRP to The Ellen DeGeneres Wildlife Fund during a live taping of Ellen’s show.

According to Futurism.com, however, Ripple isn’t just donating XRP to charities. In October of last year, the company put $300 million in XRP into something called the RippleNet Accelerator Program, a program designed to reward financial institutions that use XRP. In May, Ripple also created Xpring, an initiative that helps fund development for Ripple based startup companies.

Blockchain Tech Continues to Garner Support Amongst Top Companies

Whether or not you think cryptocurrencies will have their place in the future, it’s become apparent that blockchain technology is becoming more prevalent. Forbes recently published an article listing the 50 largest public companies exploring blockchain. Amongst them were some of the following:

#1 — Industrial and Commercial Bank of China (ICBC)

Blockchain Solution: A patent filed by ICBC describes a way to use blockchain technology to verify digital certificates instead of a trusted central authority.

#8 — Apple

Blockchain Solution: Recently filed a patent to timestamp data

#12 — Toyota Motor Co.

Blockchain Solution: A founding member of the Blockchain Mobility Consortium, this manufacturing giant is exploring how blockchain payments could enable self-driving cars.

#28 — Nestle

Blockchain Solution: The Swiss food-giant ranked number 48 on this year’s Global 2000 and is now part of a consortium working with IBM to remove unnecessary middlemen from the way they ship goods.