• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Ripple's Drought Insurance Pilot: Results and Outlook

user avatar

by Giorgi Kostiuk

7 hours ago


Ripple has completed a pilot program for drought insurance aimed at supporting pastoralists in Kenya through blockchain technology.

Structure of the Insurance Program

The program launched in April in partnership with Mercy Corps Social Venture and DIVA Donate. It enrolled 517 pastoralists, 70% of whom were women. The assessment of drought severity was based on satellite-derived NDVI data. If vegetation levels fell below predefined thresholds, payments in RLUSD would be automatically issued to participants.

Results of the Pilot Project

During testing, no payouts were triggered; however, the collected funds are reserved for future drought support. Favorable vegetation conditions in 2023 led to the absence of payouts, and all funds in RLUSD will be allocated for upcoming high-risk periods.

RLUSD's Growing Market Presence

Since its launch, RLUSD's market capitalization has surpassed $500 million. Ripple appointed the Bank of New York Mellon to hold the reserves backing the stablecoin, enhancing liquidity and support during market volatility.

Ripple's pilot program for drought insurance exemplifies the potential of blockchain for social good. The company plans to continue utilizing collected funds to ensure financial protection amidst changing climates.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

Other news

Upexi Completes $200 Million Investment Round to Boost Position in Solana Ecosystem

chest

Upexi raised $200 million to increase holdings in Solana, supporting operational growth and treasury initiatives.

user avatarGiorgi Kostiuk

Why Bank of America Recommends Buying AUD/USD?

chest

Bank of America recommends buying AUD/USD based on a positive outlook for China's economy and increased demand for Australian commodities.

user avatarGiorgi Kostiuk

Shanghai SASAC Shifts Stance on Stablecoins Amid Regulatory Discussions

chest

Shanghai explores stablecoins, including yuan-backed solutions, against the backdrop of ongoing crypto ban discussions.

user avatarGiorgi Kostiuk

Bitcoin Could Reach $124,000 by 2025, Analysts Suggest

chest

Analysts suggest Bitcoin could rise to $124,000 by 2025, attracting the attention of investors and institutional players.

user avatarGiorgi Kostiuk

Bitcoin, Ethereum, and XRP Continue to Rise: New Records and Prospects

chest

Bitcoin, Ethereum, and XRP show price growth, setting new records and capturing investor interest.

user avatarGiorgi Kostiuk

Shiba Inu vs. Mutuum Finance: Who Will Prevail?

chest

Shiba Inu holds steady while Mutuum Finance gains traction in the crypto market. Discover the latest developments in this competitive landscape.

user avatarGiorgi Kostiuk
dapp expert logo
© 2020-2025. DappExpert. All rights reserved.
© 2020-2025. DappExpert. All rights reserved.

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.