Bitcoin and Ethereum, the major world's cryptocurrencies, are now not categorized as securities, but Ripple has recently become a subject of discussions with a lot of doubts whether this token may be possibly considered to be a security. The Fund which supports entrepreneurial ventures in the blockchain space, Ripple says will also provide an opportunity to identify new use cases for its XRP Ledger and Interledger Protocol.
"Blockchain Capital is the premiere fund for any project looking to get off the ground in the blockchain space".
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XRP Ledger is an open source platform which allows users to make transactions in different currencies all over the world while the Interledger Protocol is an open protocol for payment across different payment networks.
Ripple is aiming at seeing that same kind of relationship happening between their established technology and entrepreneurs who can use it to build companies with funding from the Blockchain Capital fund. There are entire verticals - such as healthcare or identity management - that could benefit from blockchain or distributed ledger technology.
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We created the parallel fund to separate our other LPs from the risk of any change in valuation associated with accepting Ripple's investment in XRP. Blockchain Capital is a rare breed - it has set up a $75 million fund that runs in parallel to its own fund that reportedly only takes contributions made in crypto.
"This is the first fund that we've contributed to, and it won't be the last", said Ripple's senior vice president of Strategic Growth, Patrick Griffin. "We plan to be major players in shaping the future generation of blockchain or crypto companies", continued Griffen. Additionally, he also believes that Ripple is capable of improving legacy of banking systems and help streamline worldwide money transfers.
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