Ripple has launched a new initiative to simplify the blockchain entrepreneur the passage of the first stages of business creation, while helping them to develop their own solutions.
On Monday, the company announced a new project Xpring, in which Ripple will invest, purchase, and award grants to «serious» projects and companies managed by «proven» entrepreneurs. The venture Fund will only support startups and projects that use the token XRP and XRP technology of the blockchain Ledger.
The company said that «as one of the few blockchain-companies that are not trying to benefit from speculation, we believe that we are uniquely placed to provide strong support to entrepreneurs».
Ripple has appointed Ethan Byrd (Ethan Beard), former Director of the Facebook Developer Network, senior Vice President, who will lead the startup incubator Xpring and program developers of Ripple. Byrd said:
«Blockchain and digital assets to solve important problems, and XRP is its speed, scalability and the ability to use in the real world — a great tool of business creation for startups and entrepreneurs».
On Monday, the company also announced that Mitsubishi, Standard Chartered and Thailand»s Bank of Ayudhya (Krungsri, a subsidiary of MUFG Bank) will test payments between Singapore and Thailand via the blockchain-product Ripple xCurrent. The purpose of this testing is to demonstrate the commercial feasibility of using xCurrent for high-speed cross-border payments between non-banks.
However, not all believe that Ripple is on the right track. Recently at hearings in the British Parliament said
about the futility of Ripple for the financial system, and in the beginning of the month against Ripple was filed by class action. The plaintiffs argue that the defendants violated state and Federal securities laws by participating in schemes to attract hundreds of millions of dollars through the sale of unregistered token-actions Ripple (XRP).