One of the contributors to the Development Fund of the Tallinn University of Technology, NGO XRP Ledger Trust, supports the development of the block chain infrastructure used for sending digital currencies in order to create greater social and financial inclusion. The NGO will support in the autumn scholarship competition of the Development Fund, 15 students with a total of 30 000 Euros. Bharath Chari, Member of the Board of the NGO XRP Ledger Trust, talks about what precisely the NGO deals with and about applying for their scholarship.
Why did you decide to support TalTech students with scholarships?
TalTech is known to be the best of the best. This university breathes innovation. In all areas that are important for Estonia, TalTech has been also a participant in the births of start-ups. We are very proud that TalTech took us to be a part of their family.
Education not only assists Estonia, but the whole world. As continually new technologies are emerging, we must be cooperating with the best and offer as much support as possible to the best institutes that can provide students, tools of the next generations. This not only in the field of niche technology, but generally – as we know everything will become digital and Estonia is already at the forefront of this. We believe that Estonia has the capacity to assist other countries, to accept best practices by training increasingly more people who can go to the world and create the same success they have created in Estonia.
Who do you await to apply for a scholarship?
Every student who thinks he/she is capable of changing something in the world of tomorrow should apply. They should not be restricted by the field they are studying, as it makes no difference if they are studying economics, law, energy, high technology or even art – they should observe how they can make the world better, how they can use technology to do so. I recommend that all students apply and not be afraid, even if it initially sounds too technical.
What kind of cooperation can you make with students and why not even with TalTech in general?
TalTech has so many different disciplines that cover different fields, from law to mental health and many technical specialisations between them. I hope that we can cooperate with the university everywhere, where our technologies may cross with research.
What are your recommendations to the students of TalTech who still are not certain if they should apply for the scholarship competition?
Do not doubt yourself! What concerns digital payments, the digital economy and digital finance, it is difficult to rely on past experience, as this is a new field for everybody. There is no need of fear as you are as good as everyone else. Dealing with the newest of fields, there is the advantage that you can be the best. Just apply and do your best.
Talk briefly about the activities of the NGO XRP Ledger Trust.
We are a not for profit organisation and our only task is to create social and financial inclusion. We understand that there are many forms for it and for the sake of it, we want to further innovation as much as possible.
Digital technologies provide people who are in the periphery regions of the traditional economy more possibilities – there are many people in the world who do not have bank accounts and are excluded from society. The possibility to receive and make micro payments economically allows them to be a part of the economy and thereby also of society. These technologies are already available in many underdeveloped countries, actually much more than in Western countries. There are for example mobile payments available in Kenya, India offers flash payments by mobile phone. These have provided many fast and economical possibilities for people, to participate in society without them having the need for a bank account or money on the account.
Lastly state a cool fact about your organisation.
We do not think that anyone should do just one thing – everyone should do everything. We encourage our own employees as well as external partners to deal with many different things. This follows the spirit of contemporary new technologies – everyone does everything, people do remote work, work with people from different cultures and backgrounds.
We have cooperation partners all over the world. Many have not met for years, yet we still all work together. This characterises our organization: we work throughout the world, for the sake of progress that makes the world smarter, more energy conserving and inclusive.
Find out more about the Development Fund scholarship competition and present an application from here.