Cryptocurrency, Ripple (XRP), has donated $29million to develop the United State public schools as a reply to over 35,000 funding appeals from teachers via DonorsChoose charity fund.
In a report by , the fund receiver is to convert the gesture into US dollars within two weeks due to the ongoing cryptocurrency volatility, and at the same time use the donation to refurbish over 30,000 classrooms across the US. The philanthropic act would effect changes in the lives of close to one million students “who will be given books, school supplies, technology, field trips, and other resources vital for learning through DonorsChoose.org,” Ripple made known in a to its community on March 27.
Charles Best, founder and CEO of DonorsChoose, says the gesture is “the largest donation of cryptocurrency.”
The third largest cryptocurrency by market capital took after some altcoins to donate in charity. Ethereum in collaboration with OmiseGO donated $1M tokens to African based charity, GiveDirectly. The gesture was also followed by Buterin, donating $2.4 M worth of Ethereum to the SENS Research Foundation. Also, Pineapple Fund donated $1M worth of BTC to the Internet Archive.
XRP is increasing in market capitalization. The cryptocurrency, which is an offshoot of Ripple, a standard financial company performing wonders in cross border transaction, is hoped to be the future of banking, after it moves to collaborate with over half of the world’s top bank in the next 5 years.
Ripple has collaborated with over 100 financial companies, among which are Western Union, MoneyGram. Ripple tools like xCurrent, xRapid, and xVia have been tested in different countries of the world.
One of the platform’s tools, xCurrent according to (SAMA), is going to save the Middle East government of close to $400-$500 million it loses to high cost of transferring funds across the globe.
Ripple remain unmoved despite the stiff regulatory policy in China. The altcoin says it will do everything to get wide acceptance in China.
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Photo credit Hi-news.u
Yesterday Telegram made a huge surprise for its 180 millions active users: the service was unavailable for a couple of hours in Russia, Europe and even Middle East. While the company’s founder Pavel Durov explained the problem by the power supply disruption in its servers and the issue was eliminated in a matter of several hours, the internet was full with complaints, comments and jokes. Which is ironic, because Telegram is a fast and secure messenger that has been totally free for its users, who send over 70 billions of messages via it daily. And until this year, it generated nothing but expenses. Poor Durov! 🙂
However, not so poor. Not after the $850 000 000 raised at TON ICO pre-sale this March.
in this regard, I need to say that I highly respect Durov as a businessman — it’s not an easy thing to monetize facebook’s copycat on such large scale! — but I don’t believe that Telegram will propel any higher on the market and reach tens of billions. While by means of TON ICO Telegram is a kind of unicorn, it doesn’t have potential to reach the major league. I would love to say that Pavel Durov learned on his mistakes after VK, but as the latest events reveal, it is not quite true.
Another thing I need to say here is that I respect Durov as a man of principle. Not everyone could have balls to go into an open confrontation with KGB. No, Mr. Red Guardian, we won’t let you read our users’ messages! Why? Fuck you, that’s why! It’s just awesome.
You might think it’s quite noble of him to protect our privacy, and maybe it is, but that’s exactly what prevents him from entering the major league. The very fact that he let the open conflict with «KGBeast» happen. And that’s the same reason why we won’t see Telegram’s immediate growth 10x times. If Durov was one of the real whales of the market, he would have sorted it out undercover, without letting it go to the court.
It might be sad, by that’s the way it is. To sum up, from the point of view «it’s just good business, nothing personal», I would have invested in Telegram myself if its capitalisation was 20–30% from today’s. And if mister Alisher Usmanov would have attempted a hostile takeover of Durov’s company before it started its ICO (just the way he does it)
Some $600 billion has been wiped out of the crypto market cap in about 12 weeks, making this the biggest crash by dollar amount in crypto history. But why? What…
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