Clearly, every cryptocurrency has its roadmap and how it’s structured. As established earlier, cryptocurrencies have general similarities as well as their unique differences. While Bitcoin aims at being the future of money, other cryptos like ethereum, ripple and cardano have a different focus. Ripple, for one, is a token that uses both the decentralization and centralization types of governance. Because of this and other reasons, most financial banks make use of its applications. The usefulness of ripple cannot be overemphasized because not only is it in the top 10 cryptocurrencies, but it also has a pocket-friendly price making it quite easy to accumulate.
Xpring (pronounced as spring) is a concept, an initiative that invests in incubating, acquiring and providing grants to projects and companies directed by proven individuals or entrepreneurs. The initiative is such that it brings out the entrepreneurship mindset of individuals helping them actualize their goals by providing them with assistance in the form of grants. With XRP in place, every entrepreneur will be using the XRP ledger and its open-source applications in providing their clients and customers with solutions to their problems but in a dynamic and transformative manner.
One of the several reasons why the Xpring initiative came to be is because several entrepreneurs and investors who use the XRP ledger and tokens as their business currencies needed a way of providing progressive solutions to their clients’ needs. With the Xpring initiative, financing and promoting ripple becomes easier as one of the goals of Ripple Labs includes providing financial institutions the opportunity to carry out cross-border transactions by helping them get rid of frictions in payment methods. With the amazing characteristics of XRP, which include scalability, superior speed and stability, XRP is the best option to solving problems relating to trade finance, real estate, provenance, virtual and gaming goods and others.
Contributions of the Xpring initiative to the community
As mentioned earlier, Xpring was created to help entrepreneurs provide progressive supports to their clients by providing them with grants. Here are some of the projects and companies that have received support/grants via the Xpring initiative
● One of the major beneficiaries of this initiative is Scooter Braun, an entrepreneur, entertainment talent manager, and the founder of the SB Projects. He is into several businesses that will adopt XRP in helping artists manage and monetize their content in any capacity.
● The next on the list is the famous Stefan Thomas, the creator of BitcoinJS, the inventor of the ILP (Interledger Protocol), and one of the founders of TxtBear. Stefan has just launched his new innovation known as coil. The aim is for the coil to use the Interledger Protocol and XRP to facilitate micropayments applications into smaller sizes.
● The co-founder and CEO of Omni, Thomas McLeod, who happens to be a serial entrepreneur, also benefited from the Xpring initiative with the integration of XRP as an acceptable currency in Omni’s platform.
These are some of the few benefactors of the Xpring initiative. However, several others have also benefited. This shows how successful the Xpring initiative was and how well institutions and investors are into ripple.
You can expect more innovation and initiatives from both XRP and blockchain. While Bitcoin wants to replace fiat money as the future of money, other cryptos like ripple just want to improve in certain aspects of the economy by adopting blockchain technology. In this case, ripple being both centralized and decentralized makes it the perfect blend between the transitioning from fiat to crypto. Ripple’s price may be somewhat low at the moment, but it’s important to note that the aim is to prepare for the future, which is imminent. Some of these benefactors are quite glad they are one of the beneficiaries of the Spring initiative because it has not only helped them bring their aspiration into reality but has also helped them understand the importance of investing in cryptocurrency and adopting blockchain technology in all spheres of life.
The Xpring team hasn’t stopped looking out for prospective entrepreneurs to assist. They are such that, after vetting each entrepreneur, they still find a way of accommodating others for the propagation of the initiative, promotion of XRP and assistant to serious-minded entrepreneurs. The concept of spring is more of an initiative than an XRP promotion. It just happened to be that XRP is the currency used in proffering the grants, the same way financial institutions use fiat as currency to give loans. Blockchain is one of the best innovations that has happened to the financial sector or any economy.