American singer Madonna launched a charity campaign to raise funds for orphans of the African state of Malawi. One of the partners will be Ripple company, which promised to double the number of donations collected. This was stated on the official page of the project on Facebook. It is also noted that the campaign is held in honor of the 60th anniversary of the pop star. Madonna said that the charity action will serve as a gift for her, "connecting my global family with this beautiful country and the children who need our help most."
All the collected funds will be transferred to the accounts of the non-profit organization Raising Malawi, which Madonna founded together with the American screenwriter Michael Berg in 2006.
Ripple Senior Vice President for Business Operations Erik van Miltenburg said that It is an honor for the company to participate in the outstanding work of Raising Malawi, aimed at some of the world's most deprived children, and they are grateful to Sound Ventures for being invited to participate in such an important project.
The campaign was launched on July 30 and will last until August 31. It has already raised over 27 thousand dollars from 569 participants in two days, thus collecting almost half of the goal of $60,000.
Malawi is one of the poorest countries in the world, since about 50% of the country's population lives below the poverty line, according to the International Monetary Fund.
WHY IS IT IMPORTANT?
1. This is not the first charity project by Ripple, previously the company made Ashton Kutcher, a famous actor and a co-Founder of Sound Ventures to present $4 million to the Ellen Degeneres Wildlife Fund.
2. The crypto and blockchain technologies create the beneficial environment for the non-profit sector, as well as opportunities for more transparent and faster transactions with the help of the distributed ledger technology. Note that it also gets rid of the bank commissions.
Earlier we have reported that the founder of Coinbase Brian Armstrong, launched a charitable cryptocurrency fund called GiveCrypto that will raise donations and distribute them to the needs of the poor. The organization intends to bring the fund up to $1 billion in two years, and it already raised $3.5 million worth in cryptocurrency, including $1 million, donated to the fund by Armstrong itself.