SAN FRANCISCO—Chris Larsen, the co-founder and Executive Chairman of Ripple, is funding a network of surveillance cameras across San Francisco, the New York Times first reported. Larsen funded over $4 million for the installation of 1,000 surveillance cameras in the city.
The purpose of the installation is to combat crime and theft, according to Larsen. The network of surveillance cameras will cover approximately 135 blocks in San Francisco. Larsen will also be funding the internet for some police departments.
He began the installation of the surveillance cameras in 2012 following an incident that occurred in 2011 in which some unidentifiable men trespassed into his home’s garden and disabled his home’s security system with his children asleep inside.
The surveillance cameras are being installed in visible locations, but some cameras will be installed on private property with the permission of homeowners. The time-stamped footage will be deleted after 30 days.
San Francisco District Attorney Chesa Boudin is in support of Larsen’s project.
