Ripple announces new initiative to broaden its ecosystem
In an effort to drum up business for its XRP digital currency and its XRP Ledger platform, Ripple has announced the launch of a new initiative to support development projects. The Xpring Initiative is a new investment program that will provide funds to proven entrepreneurs who "invest in, incubate, acquire and provide grants to companies and projects.”
In exchange for the funding, the entrepreneurs must provide input into the XRP cryptocurrency, as well as the XRP Ledger. The program is being headed by Ethan Beard, who will act as the program’s senior vice president, and other key figures who will help mold the Ripple ecosystem. Beard explained, "I love helping startups leverage new technologies and developments to grow. At Facebook, we saw companies in areas like gaming, music, and news use our platform to become big businesses, blockchain and digital assets have the ability to solve important problems and XRP – with its speed, scalability and demonstrated real-world use case – is a great tool for startups and entrepreneurs to build businesses around.” Beard previously served as the Director of the Facebook Developer Network.
Beard will be accompanied by Scooter Braun, an entertainment talent manager, Interledger Protocol inventor Stefan Thomas, Omni CEO Thomas McLeod and Bart and Brad Stephens, founders of Blockchain Capital. Braun stated that the project "will provide artists with new distribution channels and revenue streams.”
The Xpring team is currently reviewing hundreds of candidate projects and are still accepting new applications. Entrepreneurs who wish to have their projects considered should visit the Xpring website.