Ripple’s RLUSD Stablecoin Finds a Real-World Use Case in Kenya
- Ripple’s RLUSD-based drought insurance pilot covered 517 pastoralists in Kenya, with 70% being women.
- No payout was triggered due to favorable vegetation conditions, allowing RLUSD funds to roll into the next high-risk season.
- The upcoming campaign, targeting 533 participants, is backed by Ripple and legacy funds from Mercy Corps Ventures and Arbitrum.
Ripple’s innovative blockchain-based insurance pilot in Kenya has wrapped up its first phase that was conducted in partnership with DIVA Donate, successfully insuring 517 pastoralists, 70% of whom were women, using Ripple’s newly launched stablecoin RLUSD.
The project demonstrates the clear potential of Web3 solutions in disaster preparedness.
How RLUSD is fixing real-world problems
According to a post from Ripple on X (formerly Twitter), the insurance pilot utilized satellite vegetation data to monitor drought risk over a critical season.
Favorable conditions during this monitoring period meant no payouts were triggered, as satellite imagery showed sufficient vegetation to sustain livestock.
The post Ripple’s RLUSD Stablecoin Finds a Real-World Use Case in Kenya appeared first on Coin Edition.
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Ripple’s RLUSD Stablecoin Finds a Real-World Use Case in Kenya
- Ripple’s RLUSD-based drought insurance pilot covered 517 pastoralists in Kenya, with 70% being women.
- No payout was triggered due to favorable vegetation conditions, allowing RLUSD funds to roll into the next high-risk season.
- The upcoming campaign, targeting 533 participants, is backed by Ripple and legacy funds from Mercy Corps Ventures and Arbitrum.
Ripple’s innovative blockchain-based insurance pilot in Kenya has wrapped up its first phase that was conducted in partnership with DIVA Donate, successfully insuring 517 pastoralists, 70% of whom were women, using Ripple’s newly launched stablecoin RLUSD.
The project demonstrates the clear potential of Web3 solutions in disaster preparedness.
How RLUSD is fixing real-world problems
According to a post from Ripple on X (formerly Twitter), the insurance pilot utilized satellite vegetation data to monitor drought risk over a critical season.
Favorable conditions during this monitoring period meant no payouts were triggered, as satellite imagery showed sufficient vegetation to sustain livestock.
The post Ripple’s RLUSD Stablecoin Finds a Real-World Use Case in Kenya appeared first on Coin Edition.
Read More
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