Blockchain-based fintech company, Ripple, has recently announced its plans to address the global financial inclusion crisis by providing low-cost, always-on money transfers for the 3.7 billion people who are unbanked or underbanked around the world.
Ripple believes that blockchain innovation in carbon markets can assist in achieving global environmental goals, and has been working on this initiative since 2018 in collaboration with various fintech companies, foundations, universities, social entrepreneurs and NGOs.
The company aims to promote economic participation, opportunity, and sustainability for billions of people who do not have access to banking services.
Ripple’s initiative has already provided $150 million in donations and has partners active in more than 80 countries.
The company believes that the adoption of cryptocurrency and blockchain technology can increase financial inclusion, and is advocating for the creation of a central bank digital currency platform for governments working to improve financial inclusion.
Furthermore, Ripple is committed to promoting sustainability within 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.
