The programme is called Xpring, pronounced 'spring.' According to a press release, it will "invest in, incubate, acquire and provide grants to companies and projects run by proven entrepreneurs".
The Ripple team announced the new initiative in a press release published on May 14th, stating that the Xpring project is created to ensure that interesting entrepreneurs "have the key essentials to grow their businesses and prosper". This initiative was birthed from the need of entrepreneurs and developers to support the XRP Ledger with XRP-related projects.
XRP are ideal for entrepreneurs that are looking to solve problems across identity, trade finance, gaming, virtual goods, real estate, and more. Before moving into an advisor role at several technology companies, Ethan served as Director of the Facebook Developer Network from 2009-2012, where he oversaw worldwide developer relations, operations and product marketing for the Facebook API.
Ripple Chief Market Strategist Cory Johnson discusses how his company is using XRP technology to help startups.
At present, XRP is being tested by a handful of financial institutions, but Ripple wants to turn that handful into a movement with the launch of Xpring. However, the characteristics of XRP and the XRP Ledger - superior speed, scalability and stability - make it flawless for entrepreneurs looking to solve problems across identity, trade finance, gaming and virtual goods, provenance, real estate, insurance, digital media and many other industries.
"Understanding who somebody is and knowing that a piece of data is real, these are all things possible using XRP", Johnson said on the "Countdown to the Closing Bell" program. At Facebook, we saw companies in areas like gaming, music, and new use our platform to become big business. Do you think this will lend more value to XRP and the XRP Ledger?
One of the products that Ripple mentioned support for is an initiative by Scooter Braun, who is the founder of SB Projects.
Thomas McLeod, serial entrepreneur, co-founder and CEO of Omni, who will soon integrate XRP as a currency into Omni's marketplace.
The Xpring team finished their announcement by writing that they are vetting hundreds of candidates but are still open to new projects and business applications and invite serious entrepreneurs to visit the Xpring website.
Ripple is putting in so much effort to expand the use of its digital currency (XRP) it developed into new segments and verticals beyond the banking and payment space where the firm is focused.
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