• 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

5 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

Ripple Completes Experimental Drought Insurance Program in Kenya Using RLUSD

chest

Ripple's drought insurance pilot in Kenya insured 517 pastoralists, with 70% being women.

user avatarGiorgi Kostiuk

How Qubetics Became One of the Top Crypto Assets in 2023

chest

Qubetics launches with impressive figures, hitting $4.20 within just an hour. Its success and future prospects pique analysts' interest.

user avatarGiorgi Kostiuk

WOM Protocol Launches Testnet for Its EVM-Compatible Layer 1 Blockchain

chest

WOM Protocol has unveiled the testnet of its EVM-compatible blockchain, paving the way for innovations in decentralized marketing.

user avatarGiorgi Kostiuk

Coinbase: Historic Highs and Global Expansion Plans

chest

Coinbase stock hits a record $397 as the company actively expands and launches new products.

user avatarGiorgi Kostiuk

Kaspa and Qubetics: Who Will Lead in the Crypto Market of 2025?

chest

Kaspa shows stagnation while Qubetics is successfully growing, attracting the attention of crypto investors and developers.

user avatarGiorgi Kostiuk

Bitcoin Reaches New Heights: Traders' Memories of Unfulfilled Dreams

chest

Bitcoin's latest surge brings back memories of previously missed opportunities and huge gains.

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.