Crypto_Market_Analyst

2023/12/21 09:07

Tech Company to Leverage Ripple CBDC Platform for

A Kenyan-based tech company utilizes the recently-introduced CBDC platform from Ripple to carry out payments to institutions for ecological insurance.

In a recent episode of one of The Futurum Group podcasts, host Steven Dickens interviewed Kennedy Ng’ang’a, the founder and CEO of a Nairobi-based technology company. 

Ng’ang’a’s company specializes in providing ecological data to blockchain and submitted its Blockchain oracle service Block Beamer to the 2023 CBDC Innovate Challenge hosted by Ripple
During the interview, Ng’ang’a explained that their company focuses on making ecological data available on the blockchain. With this, it supplies the blockchain with information on the natural environment. The data encompasses details like vegetation coverage, wildfire occurrences, and rainfall levels, crucial for applications like climate insurance.

The company’s solution aims to tap into the ecological data stored on the blockchain to drive parametric insurance. Ng’ang’a highlighted that their application targets institutional users, including insurance corporations, banks, microfinance, and microinsurance organizations. 

The Ripple CBDC Platform is Essential 
The Ripple CBDC platform plays a pivotal role in making this blockchain-based solution more accessible to traditionally risk-averse institutions. Recall that Ripple launched its CBDC platform in May to allow governments and financial institutions create their own digital currencies.

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