Teachers in the United States just got a huge donation from a pretty unlikely source. A software company called Ripple recently made a donation of $29 million to thousands of U.S. teachers. The donation was made by converting the company’s cryptocurrency into U.S. dollars then using this money to support a platform that aids underfunded teachers.
It is estimated that more than 15 percent of American schools will see some form of this money in the near future, mostly because of the sheer size of the donation. However, in light of this event, many are left with the same question: where did Ripple come from, and why was this donation made?
What is Ripple?
Similar to Bitcoin, Ripple is a cryptocurrency. Cryptocurrencies have been a very hot topic in the financial sector as of late because of its sudden rise in value, as well as the many attractive perks they bring to the table. Cryptocurrencies come with benefits such as additional privacy derived from their anonymous transactions as well as cutting down on the possibility of fraud because they are next to impossible to counterfeit.
How did Ripple donate to teachers?
The donation by Ripple was made through the crowd funding platform Donors Choose. This allows teachers around the United States to seek funding for things like classroom supplies or school trips that otherwise could not be afforded. Many teachers are self funding certain aspects of their curriculum and thus have turned to Donors Choose to seek help from good civilians who value education.
How many teachers benefited?
It is estimated that the donation made by Ripple will reach more than 28,000 classrooms across the country. This means that 28,000 more teachers and hundreds of thousands of students will now have access to learning tools that would otherwise have been closed off. It is donations such as this one that have an invaluable impact on the youth of today.
It is the hope of Ripple that other companies will follow the leader and begin to value the educators of the United States enough to either donate directly or push leaders to provide better wages and better funding for schools. The educators of today are shaping the minds of the youth who will be the leaders of tomorrow. There is no better investment than in the future and the best way to do so is through education alone.