One of Ripple’s co-founders is spending a fortune installing cameras in San Francisco

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Cryptomoney magnate and Ripple co-founder Chris Larsen paid over $4 million to install 1,000 high-definition cameras on the streets of San Francisco. He claims that his goal is to fight crime, specifically theft.

According to a report published by The New York Times, Larsen, who recently recovered from COVID-19, decided to take up this project again after a group of unknown men climbed into his yard in 2011 and cut the wires to his home security while his children were sleeping inside.

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Alternative“ system for public safety
Ripple’s CEO stated that he sees it as an alternative system of urban security. The New York Times notes that while San Francisco does not have a high rate of violent crime, property-related crimes have been a „headache“ for many residents.

The network established by Larsen covers about 135 blocks of San Francisco. He is also paying for internet connections at some police stations, claiming that most stations do not have decent internet service.

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A police department spokesman made it clear to the New York Times that

„There’s a process for the department to request images from the party managing the cameras. That party has the discretion to publish or not publish footage on S.F.P.D.“

The San Francisco community in charge of monitoring the cameras

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The report also explains how Larsen’s network works:

„Neighbors get together and decide where to place the cameras. They are installed on private property at the discretion of the property owner, and in San Francisco many home and business owners want them. The images are monitored by the neighboring coalition. The cameras are always recording.

In a recent interview with Wall Street Journal reporter Paul Vigna, Ripple co-founder and chief executive officer Chris Larsen said the United States has been „slow to play“ in terms of experimenting, implementing and regulating the blockchain and crypto industry.