Ripple, a blockchain-based fintech firm, has revealed ambitions to assist the roughly 3.7 billion individuals who are either unbanked or underbanked globally. The business stated in a tweet on Earth Day that it views the global climate problem as one of the century’s most urgent concerns and that blockchain innovation in carbon markets may help the world achieve its environmental objectives.
Since 2018, Ripple has been working on this project in partnership with a number of fintech firms, foundations, academic institutions, social entrepreneurs, and non-governmental organisations (NGOs). The project has already given over $150 million in donations, and the partners are presently working in more than 80 nations.
According to the cryptocurrency corporation, the use of blockchain technology and cryptocurrencies might expand economic opportunity, participation, and sustainability for billions of people who do not have access to financial services. Ripple believes that offering low-cost, always-on money transfers in emerging nations and developing a central bank digital currency platform for governments trying to increase financial inclusion are two methods to address the issue.
Also, Ripple wants to support a cryptocurrency economy that is viable in the future. The foundation of Ripple’s XRPL, which the company claims to be the first carbon-neutral blockchain in the world, has the potential to offer eco-friendly cryptocurrency options and more effective carbon markets. Through lowering emissions, utilising renewable energy, and funding creative carbon removal projects, the corporation has set a target of becoming carbon neutral by 2030, if not sooner.
