Monday saw Ripple (XRP) unveil Xpring, a new initiative that will see Ripple invest in, incubate, acquire, and provide grants to companies and startup projects whose proven entrepreneurs will use the XRP Ledger and the digital asset XRP as they go forth in their attempts to solve real-world problems.

In their corresponding press statement, Ripple explained that the idea behind Xpring (pronounced Spring) was inspired by a resolute “want to act as a proverbial spring for the most serious” entrepreneurs.

The Xpring team is already vetting hundreds of amazing projects.”

Ex-Facebook Director Leading Xpring

It was also revealed that Ethen Beard had been hired by Ripple and appointed as Senior Vice President. In his role, Mr. Beard will lead the Xpring initiative and Ripple’s development program.

Of note, between 2009 and 2012, the high-calibre recruit served as Director of the Facebook Developer Network. Here, Mr. Beard oversaw “worldwide developer relations, operations and product marketing for the Facebook API.” In the time thereafter, he worked as an advisor “at several technology companies.”

Xpring Has Xprung

Additionally, at New York’s 2018 Consensus Conference, Cory Johnson (Chief Marketing Strategist, Ripple) appeared live on Cheddar to elaborate on Xpring.

During the interview, Mr. Johnson revealed that former chief technology officer of Ripple, Stefan Thomas (Founder, Coil Technologies), as well as Scooter Braun (Founder, SB Projects) had each received support from Xpring already.

Additionally, the Monday announcement detailed another two projects that Xpring was already supporting, those being that of Thomas McLeod (Co-Founder & CEO, Omni), and a project spearheaded by brothers Bart and Brad Stephens (Co-Founders, Blockchain Capital).

I’m excited our team is among the first in the entertainment industry to lean into the blockchain movement.” – Scooter Braun

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