Ripple builds drought relief program in Kenya
Ripple announced a new blockchain-based drought relief program for arid communities in Laikipia County, Kenya.
The company launched a pilot initiative in collaboration with Mercy Corps Ventures and DIVA Donate that will automatically provide 533 pastoralists with financial aid if vegetation health indicators confirm drought conditions.
Ripple USD (RLUSD), the company’s U.S. dollar-pegged stablecoin, is utilized in this project; the stablecoin is distributed across the Ethereum and XRP Ledger networks.
As stated by Ripple, they are funding a pilot project in collaboration with Mercy Corps Ventures and DIVA Donate that will use blockchain technology to deliver financial assistance to drought-affected pastoral communities in Kenya in the form of Ripple USD (RLUSD), the stablecoin built on stability, trust, and compliance.
The impact investing division of the international development organization Mercy Corps is known as Mercy Corps Ventures. DIVA Donate is a parametric conditional donation platform that enhances disaster relief by employing remote-sensed data and decentralized finance (DeFi).
The system integrates satellite imagery and smart contracts to monitor grazing conditions. Vegetation health is evaluated using a satellite-based metric called the Normalized Difference Vegetation Index (NDVI).
Funds will be distributed via the Stableecoin when conditions fall below the drought threshold by May 31. Each pastoralist is entitled to about $75, enough to support one person.
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