Ripple’s co-founder is paying to install security cameras across San Francisco

Chris Larsen, a co-founder and former CEO of distributed ledger startup Ripple, is reportedly paying for the installation of hundreds of security cameras across San Francisco.

The New York Times profiled Larsen's efforts, framing them as a way to deter property crime in the city. The outlet said that Larsen is "paying for a private network of high-definition security cameras around the city. Zoom in and you can see the finest details: the sticker on a cellphone, the make of a backpack, the color of someone's eyes."

According to the Times, Larsen's efforts began back in 2012. As of today, he "funds a network of more than 1,000" and pays for community-focused organizations to operate them. As well, "[Larsen] funds the longstanding nonprofit SF Safe, which supports neighborhood watch groups and the Police Department."

As of now, 135 blocks in San Francisco are part of the camera network, according to the Times.

Though the initiative has driven privacy fears, Larsen contended that his efforts would ultimately fuel more action at the community level.

Read the full New York Times report here.

© 2020 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.