Ripple Labs has been selected as one of 49 “Technology Pioneers” by the World Economic Forum for its distributed ledger technology.
The World Economic Forum is a Switzerland-based nonprofit organization whose stated mission is to improve “the state of the world by engaging business, political, academic, and other leaders of society to shape global, regional, and industry agendas.” It is best known for its annual meeting in Davos, which brings together leading business, political and intellectual figures.
Its Technology Pioneer award recognizes companies for innovation and developing solutions that can transform the future of business and society.
Ripple’s protocol aims to make it easier and cheaper to move money. It brands itself as “opening access to finance”, allowing “everyone to participate in the global economy.”
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With the award, Ripple Labs gains access to a highly influential business and political network. It has been invited to attend the 2016 Annual Meeting.
The 49 awardees were selected from hundreds of applicants by a committee of 68 academics, entrepreneurs, venture capitalists and corporate executives.
Fulvia Montresor, Head of the Technology Pioneers program, said, “We’re glad to see a distributed ledger company make it to the selection. Ripple Labs is part of a group of entrepreneurs who are more aware of the crucial challenges of the world around them, and who are determined to do their part to solve those challenges with their company.”
In theory, the Bitcoin blockchain would also entitle its creators to such an award, but it is not a product of any specific company or organization. Leading startups working on its development and applications, however, can one day be recognized.