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RippleX Announces Recipients of $2.6 Million XRPL Grant: Details

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Fri, 13/01/2023 - 9:51
RippleX Announces Recipients of $2.6 Million XRPL Grant: Details
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RippleX, the team that provides XRPL developers with the infrastructure, tools, services, programs and support needed to advance their solutions and innovations, has announced the Wave 4 awardees of XRPL grants.

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As stated in a blog post, 25 projects representing the themes of sustainability and diversity, equity and inclusion, as well as general technical projects, received $2.6 million in Wave 4 financing from XRPL grants.

Projects in the e-commerce sector, such as wallets, payment systems, event ticketing, Shopify-related apps, pet ownership that uses NFTs for identification, ID verification and fraud protection, health and wellness projects involving athletic performance data and NFTs, and others, are among the additional funded projects in the Wave 4 range.

By highlighting Wave 4 Sustainability Focused Projects, RippleX reaffirms that the XRPL Grants program is dedicated to assisting with initiatives and solutions that are concerned with sustainability and combating climate change by utilizing the carbon-neutral XRP Ledger.

Applications for the next round, which is Wave 5, will open in February 2023, as stated in the blog post.

Sustainability focus

In a long line of predictions, Sendi Young, Ripple's MD for Europe, predicts that consumers and policymakers will continue to scrutinize the sustainability credentials of cryptocurrencies and blockchain technology.

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With less energy-intensive blockchains and blockchain-enabled solutions, like the tokenization of carbon credits, she thinks more sustainability will be possible.

XRPL touts its capability of being carbon neutral and more energy efficient than POW (proof-of-work) blockchains.

Ripple announced a $100 million commitment to carbon markets in 2022. Through investments in carbon removal businesses and climate-focused fintechs, the financing is aimed at expediting carbon removal activity and assisting in modernizing carbon markets.

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