Ripple has been faced with lots of challenges in regards to the debate on whether it is a security or not. However, despite this debate still lingers, it is still a solution for banks and other FinTech companies in the world. Each one of Ripple XRP HODLer seems to be a brave person, nothing short – the Ripple community has been facing all the difficulties with sheer heroism. And as things stand now, the XRP holders might be rewarded for all their hardihood soon.
Recently Cory Johnson of Ripple Labs got interviewed at the Milken Institute Asia Summit 2018. The interview was also joined by Lara Wozniak, Head of Growth Markets at Media Relations Department of Accenture.
When Cory was asked about the aim of blockchain technology and the solution it can offer, he said that it is mainly for the global finance. Cory states,
“I really do think that finance is the place where there was the most friction in our global economy. And the solutions presented by blockchain are so obvious that they’re really going to change the way money and value move in our society”
Subsequently, Cory also emphasized that a blockchain technology like Ripple aims to solve the problems of cross-border payments and why these payments take several days before they get actualized.
Concerning the role of regulators on Ripple’s aim, Cory didn’t fail to say a few things. It is important to know that Ripple has been working hand-in-hand with regulatory companies to fix the ‘Ripple is a security or not’ debate. Cory also emphasized that regulators are looking for ways to solve the speculations on cryptos and that these regulators are scared of what the blockchain can become shortly. Cory added,
“When we meet with regulators, I have personally been really surprised by how much they know, and how much they really want to know. They don’t seem to walk into this, with sort of this notion of fear and doubt, they actually want to listen and learn”
Cory talked on how firms owners are using the XRP token for their daily business activities. He went on to talk about the countries that are using blockchain technology. He said,
“The world is more global than ever before. And, entrepreneurs are going to pick up and leave and go to the places where those technologies …and you don’t have to be in Silicon Valley to develop technology where I still think it’s the best place, but there are more options now.”
Ripple to Launch xRapid Next Month
Ripple’s most awaited product that will help in making money transfer easier and faster is finally here. CNBC reported yesterday, Sept 17 that the main version of xRapid will be launched very soon now.
The launch of this product was revealed by the Head of regulatory relations for Asia-Pacific and the Middle East at Ripple, Sagar Sarbhai.
When unveiling the importance of xRapid to the world, it was stated that xRapid would also help in solving the problems of liquidity costs and decreasing the capital requirements of liquidity. Sarbhai commented during his CNBC interview that,
“I am very confident that in the next one month or so you will see some good news coming in where we launch the product live in production”
Nonetheless, Ripple’s Exec also said,
“A couple of years ago the narrative was: blockchain good, crypto bad. What we’re now seeing is more and more regulators, policymakers taking the whole space in one conjuction.”
He went to add this further:
“I think that narrative thankfully is now changing because policymakers, regulators are seeing that there is a strong benefit that digital assets, cryptocurrencies will bring in”
It is important to know that last month; Ripple collaborated with three major exchanges: Bittrex, Mexican Bitso, and Philippine Coin.Ph, to help foster xRapid solutions – imaginably predicting the launch of xRapid.
Brad Garlinghouse also forecasted that lots of banks and other Fintech companies would be using xRapid, and XRP by the end of this year. Things certainly are starting to get better for Ripple and the XRP HODLers. Stay tuned.
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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. The author is long Bitcoin. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
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