Ripple, the San Francisco-based company that created the XRP cryptocurrency, has recently announced a new project called “Xpring” – pronounced Spring.
Xpring is a new investment initiative that provides financial support to companies or entrepreneurs in exchange for using both the XRP cryptocurrency and the XRP ledger.
Ripple to support entrepreneurs with new exciting project
The announcement was made on their official website and it confirms that Ripple “will invest in, incubate, acquire and provide grants to companies and projects run by proven entrepreneurs.” This is a very strategic move by the company hinting at the positive future implications that broadening the ecosystem will bring.
In an official statement, the Ripple team declared: “As a major contributor to the XRP Ledger codebase and large holder of XRP, we often hear from entrepreneurs and developers that they’d like support in one form or another to help them with their XRP-related projects. As one of the few blockchain companies with traction for a non-speculative use case, we feel we’re uniquely positioned to support entrepreneurs in a meaningful way.”
New project with new hires
In order to accommodate the new project into its already existing ecosystem, Ripple has also made some new hires, chief among which we find Ethan Beard, former Director of the Facebook Developer Network.
Beard will take on the role of senior vice president for both Ripple and Xpring’s development program, expressing his enthusiasm in the official announcement by saying: “I love helping startups leverage new technologies and developments to grow. At Facebook, we saw companies in areas like gaming, music, and news use our platform to become big businesses, blockchain and digital assets have the ability to solve important problems and XRP – with it’s speed, scalability and demonstrated real-world use case – is a great tool for startups and entrepreneurs to build businesses around.”
Impressive list of participants already assembled
The company has already put together a comprehensive list of entrepreneurs who will take part in the program, as follows:
- Scooter Braun, entertainment talent manager, entrepreneur and founder of SB Projects, who is pursuing several endeavors that will use XRP to improve artists’ ability to monetize and manage their content.
- Stefan Thomas, inventor of the Interledger Protocol (ILP), creator of BitcoinJS, co-founder of TxtBear, who just launched a new venture Coil to use XRP and the Interledger Protocol (ILP) for various micropayments applications, such as facilitating “bite-sized” purchases of media.
- Thomas McLeod, serial entrepreneur, co-founder and CEO of Omni, who will soon integrate XRP as a currency into Omni’s marketplace.
- Bart and Brad Stephens, co-founders of Blockchain Capital, who have the first fund to accept capital calls in digital assets with a focus on driving innovation in the blockchain sector.
The team ended their announcement by assuring future entrepreneurs that they are currently vetting hundreds of candidates and are still open to the idea of new projects, guiding future candidates to the project’s website for more information.