Friday, July 11, 2025
Daily Crypto Post
  • Home
  • News
    • Altcoins News
    • Cryptocurrency News
  • Market
    • Price Analysis
  • About
  • Contact
No Result
View All Result
  • Home
  • News
    • Altcoins News
    • Cryptocurrency News
  • Market
    • Price Analysis
  • About
  • Contact
No Result
View All Result
Daily Crypto Post
No Result
View All Result

Ripple Impact’s Drought Insurance Pilot Covers 517 Kenyan Pastoralists

Veronicah Peninah by Veronicah Peninah
July 11, 2025
in Market, News
Reading Time: 4 mins read
Ripple Impact’s Drought Insurance Pilot Covers 517 Kenyan Pastoralists
Share on FacebookShare on TwitterShare on RedditShare on Telegram
  • 517 Kenyan pastoralists, 70% women, received blockchain-based drought insurance without payout as conditions remained favorable.
  • Satellite-tracked NDVI data showed no drought during the pilot, automatically preventing payouts through smart contracts.
  • Unused RLUSD funds roll over, providing automatic coverage for the next high-risk drought season later this year.

A drought insurance program funded by blockchain completed its pilot phase in Kenya, insuring 517 pastoralists during a vital dry season without any hitch. In the DIVA Donate-launched project, a novel approach was tested with an integration of programmatic escrow, satellite imagery, and smart contracts to provide fair and automated drought insurance. Remarkably, almost 70% of those insured were women, showing serious efforts to tackle vulnerable communities in semiarid regions in detail.

The Ripple Impact drought insurance pilot in Kenya concluded, successfully insuring 517 pastoralists (70% women) using $RLUSD. Satellite data showed favorable vegetation during the pilot period, so no payout was triggered.

This unused $RLUSD rolls into the next pilot phase,… https://t.co/gPtEBWfQdG

— Ripple (@Ripple) July 10, 2025

At the pilot stage, there are positive satellite-derived vegetation index reports, indicating that the drought thresholds were not reached. Consequently, there was no insurance payout. Nevertheless, any unused Ripple USD ($RLUSD) dollars will remain open and will roll-over automatically to the following high-risk season giving these pastoralists on-going protection later this year.

Related articles

What’s Behind the $PEPE and $SUNDOG Price Jump Today

What’s Behind the $PEPE and $SUNDOG Price Jump Today?

July 11, 2025
Peter Schiff Urges Bitcoin Holders to Exit at Highs, Advocates Buying Silver Amid Market Divergence

Peter Schiff Urges Bitcoin Holders to Exit at Highs, Advocates Buying Silver Amid Market Divergence

July 11, 2025

Satellite Monitoring Defines Insurance Triggers and Response

The drought insurance pilot used the Normalized Difference Vegetation Index (NDVI) as its core risk indicator. NDVI is a satellite-derived metric that measures vegetation health, offering a reliable and objective measure of drought stress in arid zones. DIVA Donate had already defined the most important NDVI thresholds, payment mechanism and campaign expiration dates, all recorded on the blockchain to ensure transparency.

During pilot season, plant cover was tracked in real-time by satellites, enabling the immediate detection of whether drought would be experienced. But when the campaign closed on May 31, 2025, NDVI readings were still showing that vegetation was adequate, and no drought had developed. Thus, smart contracts programmed in the blockchain system automatically did not make payments, as the conditions under which payments would have to be made were not met. This transparent process enabled everyone to independently decide the outcome.

Smart Contracts Secure Donor Contributions and Automate Payouts

The funding mechanism for this insurance pilot relied on programmatic escrow powered by smart contracts. Donors deposited RLUSD into the escrow accounts, committing these funds to a predefined set of payout conditions. Once deposited, the smart contracts made the terms immutable, ensuring that the funds could only be released if the satellite data showed drought conditions.

When the campaign reached its conclusion, an oracle—a trusted external data source—reported the final NDVI value to the blockchain. Since no drought was detected, the funds stayed in the escrow. The unused RLUSD remains allocated for the same beneficiaries and will be used to cover the upcoming drought season. This automatic rollover feature reduces delays and ensures that funds are efficiently utilized for future risk periods.

Preparing for the Next Season With Continued Coverage

Moving ahead, the pilot’s remaining RLUSD will continue to cover the same cohort of pastoralists through the next high-risk period. This approach minimizes administrative timelines and enables a quicker response should drought conditions worsen. By keeping funds active on the blockchain escrow, the program ensures that pastoralists remain covered without needing to restart the funding process.

The pilot demonstrates how marrying smart contracts with satellite data can create a more efficient and transparent drought insurance system. The second phase will use the same monitoring method, ensuring that payouts, if triggered, will come to the recipients in good time and in line with the predetermined rules. This continuous protection aims at offering safe cover to pastoralists against future climate peril.

Tags: Market NewsRipple (XRP) News

Related Posts

What’s Behind the $PEPE and $SUNDOG Price Jump Today

What’s Behind the $PEPE and $SUNDOG Price Jump Today?

by Munene Timothy
July 11, 2025

PEPE jumped by 15.32% daily after a whale bought $2.68M worth, triggering a breakout with RSI at 67.54 and volume...

Peter Schiff Urges Bitcoin Holders to Exit at Highs, Advocates Buying Silver Amid Market Divergence

Peter Schiff Urges Bitcoin Holders to Exit at Highs, Advocates Buying Silver Amid Market Divergence

by Veronicah Peninah
July 11, 2025

Bitcoin’s market cap stands at $2.20 trillion, surpassing silver’s $2.007 trillion. BTC trades at $117,901, rising 6.1%, with resistance at...

Bitcoin Breaks Records Analysts Predict $250K in 2025 as Bullish Momentum Builds

Bitcoin Breaks Records: Analysts Predict $250K in 2025 as Bullish Momentum Builds

by Irene Mukiri
July 11, 2025

Bitcoin breaks key resistance at $110K, eyes $160K amid bullish market momentum Inverse Head and Shoulders pattern sets $160K target,...

Ethereum Eyes Home-Based zk-Proving with Upcoming L1 zkEVM Launch

Ethereum Eyes Home-Based zk-Proving with Upcoming L1 zkEVM Launch

by Jonathan Carls
July 11, 2025

Real-time proving enables zkEVMs on Ethereum using affordable, home-grade hardware. ZK clients will verify diverse proofs, boosting resilience and preventing...

ENA Price Prediction Stablecoin Protocol Surges After Upbit and Grayscale Boost

ENA Price Prediction: Stablecoin Protocol Surges After Upbit and Grayscale Boost

by Munene Timothy
July 11, 2025

ENA trading volume surged by 154.52% to $636M after Upbit listing, boosting price to $0.3535 and market cap to $2.23B....

Load More

Recent News

  • What’s Behind the $PEPE and $SUNDOG Price Jump Today?
  • Peter Schiff Urges Bitcoin Holders to Exit at Highs, Advocates Buying Silver Amid Market Divergence
  • Bitcoin Breaks Records: Analysts Predict $250K in 2025 as Bullish Momentum Builds
  • Ethereum Eyes Home-Based zk-Proving with Upcoming L1 zkEVM Launch
  • ENA Price Prediction: Stablecoin Protocol Surges After Upbit and Grayscale Boost

Popular News

  • JasmyCoin Sets Bold $17 Price Target by 2026 as User Adoption Surges

    JasmyCoin Sets Bold $17 Price Target by 2026 as User Adoption Surges

    227 shares
    Share 91 Tweet 57
  • Will SHIB’s Utility Tokens Fuel Its Rise Over TON?

    204 shares
    Share 82 Tweet 51
  • Solana: SOL Has Just Reclaimed $7 Billion in DeFi TVL

    231 shares
    Share 92 Tweet 58
  • Over $33M in Token Unlocks Set to Impact Crypto Markets Amid Escalating Global Tensions

    199 shares
    Share 80 Tweet 50
  • Aptos and Filecoin Lead the Next Layer 1 Push — Will They Sustain the Rally?

    195 shares
    Share 78 Tweet 49

Live Crypto News | Bitcoin and Altcoins News & Insights.

Recent News

What’s Behind the $PEPE and $SUNDOG Price Jump Today
What’s Behind the $PEPE and $SUNDOG Price Jump Today?
July 11, 2025
Peter Schiff Urges Bitcoin Holders to Exit at Highs, Advocates Buying Silver Amid Market Divergence
Peter Schiff Urges Bitcoin Holders to Exit at Highs, Advocates Buying Silver Amid Market Divergence
July 11, 2025
Bitcoin Breaks Records Analysts Predict $250K in 2025 as Bullish Momentum Builds
Bitcoin Breaks Records: Analysts Predict $250K in 2025 as Bullish Momentum Builds
July 11, 2025

© Daily Crypto Post. Live Crypto News | Bitcoin and Altcoins News & Insights. All Rights Reserved.

No Result
View All Result
  • Home
  • News
    • Altcoins News
    • Cryptocurrency News
  • Market
    • Price Analysis
  • About
  • Contact