Blockchain-based fintech company Ripple has set its sights on helping over 3.7 billion unbanked and underbanked individuals around the globe.
In a tweet released on Earth Day, Ripple announced its plans to tackle one of the most pressing challenges of the century – the global climate crisis – with the help of blockchain innovation in carbon markets.
Ripple has been working on this initiative since 2018 and has partnered with various fintech companies, foundations, universities, social entrepreneurs, and NGOs to make progress. The partners are currently active in over 80 countries and have already provided $150 million in donations.
According to Ripple, the adoption of cryptocurrency and blockchain technology could help increase economic participation, opportunity, and sustainability for billions of people without access to banking services.
The company believes that providing low-cost and always-on money transfers in emerging markets and creating a central bank digital currency platform for governments working to improve financial inclusion is one solution to the problem.
In addition to its efforts toward financial inclusion, Ripple is also dedicated to promoting a sustainable tomorrow for the cryptocurrency industry.
The company claims that its XRPL is the world’s first blockchain to be carbon neutral, and its framework has the potential to provide green cryptocurrency solutions and more productive carbon markets.
Ripple has set a goal of achieving carbon neutrality by 2030, if not sooner, by reducing emissions, using green energy, and investing in inventive carbon removal projects.