When it comes to the role Ripple executes in the blockchain industry, we have it all cleared, the company dedicates to provide an incredibly better option for financial institutions to deploy cross-border payment transactions, one of the most obsolete processes as of now in the finance sector.
In this sense, the company has put an enormous effort into building the best solutions for the current problems in the area, and along with this, it has come up with three solutions that target specific issues of the industry. Like this, xCurrent, xVia, and xRapid, have been introduced to thousands of bank entities, including central banks.
And it is known that the three of them are currently used by several institutions such as Banco de Santander, American Express, Mastercard, and others. xCurrent is its most adopted solution right now with more than 100 institutions trying it out.
However, is Ripple settling with only being a payment solution? Well, as far as we can remember this has been pretty much the approach of the company for the entire time in the industry, but as it seems, this may change in the coming years.
Recently, a declaration by Ethan Beard (who is a member of Ripple and also the SVP of Xpring) was published, in which he states that Ripple may actually be interested in investing in the blockchain. Let’s discover the main reasoning behind this assumption.
Ripple Ethan Beard, SVP of Xpring, “Investing in Blockchain” pic.twitter.com/4LmDP7tyTS
— ???? ??? (@BankXRP) October 3, 2018
Ripple’s own blockchain
In the recent declarations of Beard, he establishes that the main focus that Ripple has now is to create value. As it seems, the company is looking to increase the value of their cryptocurrency and also the value in general terms of their solutions. This way, one of the main figuring options for this is to invest in the blockchain, a fact of which Beard confirmed by saying:
“Blockchain is really good for money… and that’s what we are really focused on Ripple”
He also mentions in the interview that Ripple is interested as well in the future of the crypto world, or as he called it, “the next generation of financial products,” which he thinks is going to be lead by the blockchain and cryptocurrencies. He said:
“We are also very focused on interoperability, we think that there’s going to be lots and lots of blockchains in the future, and we don’t think people are going to be carrying thousands of wallets and have to go to some specific exchange and buy some specific tokens there”
Strategic Value Partners of Xpring further added,
“so we think by investing in the blockchain we actually have a chance in the future of gaining value and to compete in the market with the plenty of options existing.”
Conclusion
If Ripple invests more in its very own blockchain and doesn’t end up being the only commercial organization promoting its blockchain, we can all be sure that the value of XRP might shoot to the moon. Ripple has made a name in the finance sector only with the payment solutions that the company offers, so building blockchain services simultaneously can actually be a huge opportunity f growth for the firm. At the time of writing, the XRP token has a value of $0.5258 with a 4.57% decrease in the last 24 hours.
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
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