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Ripple Trying to Increase Utility by Giving Away XRP, Launching ‘Ripple Drop’ Vlog

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Tue, 07/03/2018 - 16:23
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  • The startup is giving away its crypto as donations and launching an online series

Cover image via U.Today

 

Since it was launched in 2013, Ripple has got to be one of the five top cryptocurrencies. However, it is still not very popular and the price is not growing despite the numerous recent partnerships with global banks and financial institutions.

The problem seems to be in the fact that people are just not using the coin as means of payment but just as an investment tool.

But now the Ripple team has found another way to try and solve this problem.

Giving away XRP coins

In late March, Ripple donated around $29 mln in XRP to underfunded US teachers and schools, which was announced during a talk show hosted by Stephen Colbert. Later on, Ashton Kushner donated $4 mln in XRP to the Ellen DeGeneres Wildlife Fund. The crypto company seems to be throwing its coins out to the world to make these XRP actually work.

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As a reminder, out of 100 bln, XRP around half has been put aside in escrow. This has led some to conclude that the company management, in theory, has a technical opportunity to manipulate the price of the token.

Launching a Vlog

The new series titled “The Ripple Drop” is about to be released. Since usually the word ‘drop’ in the cryptocurrency space means a free give away of tokens to ordinary users, and in this case it does not, this name was probably chosen to attract media and investors’ attention.

According to the Ripple representatives, by doing this the company wants to ensure the transparency for its community and reach a wider audience.

“The Ripple drop” videos will come out twice a month on Mondays and cover the recent news regarding Ripple’s customers, new developments and partnerships. They also plan to make official announcements this way.

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About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today, can be contacted at yuri.molchan@u.today.

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