#FinancialInclusion / Ripple Boosts Digital Financial Inclusion

… Ripple donated £7.73 million to humanitarian aid organization Mercy Corps, intending to bolster the non-governmental organization’s efforts to help create economic opportunities for those in areas with flawed financial systems…

… Mercy Corps has been able to help over 220 million people survive a variety of humanitarian conflicts. And through work with RippleWorks, the nonprofit arm of the cryptocurrency, Mercy Corps will work to implement new digital technology like distributed ledgers and cryptocurrency over a three-year project.

… Ripple will also seek to support education of Mercy Corps’ field staff, who will use digital financial solutions to fix the financial issues faced by people in those regions, with Mercy Corps intending to help around 10 million people with their financial challenges over the next decade.

[Scott Onder, senior managing director for Mercy Corps Ventures:] “The existing financial system is fragmented, antiquated, and exclusionary… Emerging FinTech, crypto and blockchain technologies have the potential to radically transform it…”