What is Ripple's Xpring?
What is Ripple's Xpring?
A major focus of cryptocurrencies has been not only to create a currency with streamlined and sensible technology but to build up an ecosystem around it. The ecosystem helps support the idea that a cryptocurrency has a use case, and in so doing supports its valuation. Ripple (XRP) has been very successfully at getting attention and investment and has risen to be the third highest cryptocurrency behind only Bitcoin and Ethereum. However, other than a limited usage in cross border transactions the currency has yet to develop much of an ecosystem. Ripple's new Xpring initiative seeks to change that. The goal of Xpring is for Ripple to find other businesses onto the XRP platform.
In Ripple's own words:
Xpring is a new initiative by Ripple that will invest in, incubate, acquire and provide grants to companies and projects run by proven entrepreneurs. Every entrepreneur will use the digital asset XRP and the XRP Ledger, the open-sourced, decentralized technology behind XRP, to solve their customers’ problems in a transformative way.Ripple has brought on Ethan Beard as Senior Vice President to lead the Xpring initiative. Ethan previously served as Director of Facebook Developer Network where he managed the worldwide developer relations, operations and product marketing for the Facebook API. Ethan said of his goals
“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.”So far Xpring claims to have 4 businesses / projects being developed to be added to the Ripple Platform.
- Artist Monetization Project -A project to allow artists to monetize and manage their content led by entertainment talent manager Scooter Braun.
- Coil - Project to allow for micro payments of applications like media purchases using XRP and the Interledger Protocol (ILP). This project is headed by Stefan Thomas inventor of the Interledger Protocol, creator of BitcoinJS, co-founder of TxtBear.
- Omni - Omni's marketplace is to be integrated with XRP by Omni co-founder and CEO Thomas McLeod.
- Blockchain fund - First fund with capital calls in digital assets with a focus in the Blockchain sector. The Blockchain fund is from Blockchain Capital.
Most of these projects appear to be in very early stages of development and there is very little information available about them. Scooter Braun's site does not seem to mention a new initiative. Coil site right now only has a place to provide an email for future news. Omni and Blockchain Capital do have fully active sites and businesses that are up and going.
This Post was Written by Kid Crypto!
Kid Crypto is a crypto researcher out of Denver Colorado. His opinions are his own and not that of Darkstreet.
If you have a question or a story idea can send to Kid on Twitter:
Important Disclaimer: Dark Street does not endorse any financial vehicle or investment. Opinions expressed on Dark Street are those of the writers and not of Dark Street. The information provided in Dark Street including but not limited to; articles, notes, webinars and accompanying material is for informational purposes only. It should not be considered legal or financial advice. You should consult with an attorney or other professional to determine what may be best for your individual needs. Dark Street does not make any guarantee or other promise as to any results that may be obtained from using our content. No one should make any investment decision without first consulting his or her own financial advisor and conducting his or her own research and due diligence. To the maximum extent permitted by law, Dark Street disclaims any and all liability in the event any information, commentary, analysis, opinions, advice and/or recommendations prove to be inaccurate, incomplete or unreliable, or result in any investment or other losses. Content contained on or made available through the website is not intended to and does not constitute legal advice or investment advice and no attorney-client relationship is formed. Your use of the information on the website or materials linked from the Web is at your own risk.