Ripple’s XRP is one of the most considerable digital assets in the market today. However, lots of banks and other financial institutions are registered on its platform and have bought shares in the business. With the growing number of businesses registered on its network, Ripple wants to change the way money moves around the world.
Money transactions today are faced with a lot of friction, and this has stirred the desire for financial institutions to look for better innovations. In a video that got shared (and gone viral) by Twitter user @XRP_VETERAN, Brad Garlinghouse spoke on the future plans of Ripple, centering that in a few years to come, they could be a dramatic change in money settlements.
For Ripple and its followers, XRP is the foundation of liquidity management, and it is also the bridge between the banking system and digital assets that have the support of a Silicon Valley technology company. According to Garlinghouse, XRP is the bedrock to solving liquidity problems as today’s financial institutions are wired to a pool of capital accounts known as NOSTRO and VOSTRO Accounts.
He noted that these accounts are pre-funded between financial accounts – which means that the capital of the financial institutions is sitting dormant and getting used. By making use of a digital asset like Ripple’s XRP, the liquidity can be enabled in real-time.
Ripple understands the fact that liquidity shouldn’t be in an account, it should be wherever it is needed at any time, at any place, and the blockchain startup has done this by releasing XRP.
Ripple XRP future plans by CEO Brad Garlinghouse pic.twitter.com/oxzziPDUEZ
— XRP VETERAN ✖️ (@XRP_VETERAN) October 29, 2018
Ripple’s XRP has been created to solve the problems of cross-border payments and remittances in different parts of the world. Also, Ripple makes use of incentives to attract investors to trade XRP and intermittently sells XRP to these investors (including institutional ones), according to experts.
The Future Plans of Ripple (XRP)
Brad Garlinghouse stated that Ripple aims to change payment systems in the world (no surprise). The CEO noted that the firm intends to do this by working with financial institutions and making them familiar on how xCurrent works and also introducing how Ripple can help manage liquidity.
Garlinghouse further emphasized that there is a lot of friction concerning payments, but introducing XRP to these institutions will take time. He believes that introducing Ripple will take a gradual process and soon we should see lots of banks and other fintech institution adopting Ripple (XRP). Garlinghouse also claimed that Ripple’s XRP is the only digital asset that has real customers solving real problems.
Ripple (XRP) Ahead
Ripple has been successful in keeping the users highly-engaged, and that’s due to its notable strides in the past few months. The blockchain has secured good partnerships, and in the month of September, as it partnered with three companies, it further increased its level of mass adoption.
Probably, Ripple’s XRP has become the most critical cryptocurrency in the market right now. Overall, if Ripple continues to progress and advance on its quests, we may see it replacing other financial payment systems in a few years to come.
For real-time trade alerts and a daily breakdown of the crypto markets, sign up for Elite membership!
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.
Image courtesy of Flickr
AZ FundChain Offers a Compelling Alternative to Traditional Crowdfunding
Although many tokens have collapsed during the ongoing altcoin apocalypse, the future remains bright for applications with real world usage. Because of the ongoing bear market and limited trading opportunities, analyzing businesses with the potential to experience real world adoption should be the priority. Part of that analysis should include looking at industries that need improvement. During my analysis, one area that quickly popped up is the field of traditional crowdfunding and money circles. And, as it turns out, AZ FundChain application offers a compelling alternative.
Problems with Traditional Crowdfunding
President Obama’s JOBS Act essentially laid the ground work for crowdfunding. This legislation was passed in 2012 and included a provision for large groups of anonymous investors to fund startups. It essentially gets around the dreaded “qualified investor” requirement that created a barrier for so many potential participants. Crowdfunding is a great way for non-traditional businesses to raise funds for operating capital. It certainly beats having to beg a bank for a loan, or, even worse, a loan shark.
But, as the common cliché goes, no good deed goes unpunished. Traditional crowdfunding and money circles certainly have their fair share of problems. The biggest problem is trust. There are essentially very little checks and balances when it comes to how these companies will use the money that is raised. Companies can promise the world but may not deliver…
Why no one should be using banks
If government is the devil, the bank is a demon.
It’s not your money anymore.
The moment you put your money on your bank account it becomes the property of the bank. Legally speaking you have just lend your money for minuscule interest. And since the money is not your, terms do apply, so you cannot withdraw all of them in one day, if the amount is high.
Government will know everything
Today banks are obligated to tell the authorities everything they know about you, including how much money you have, how you got it and where you spend it. The golden age of bank secrecy is over. Of course if you are a law abiding citizen, you might think that you have nothing to hide, but it’s not about hiding stuff. It’s about basic human right, and rightness for private life. The government should not be allowed to watch you.
Banks ask too many stupid questions
It’s your money, you rightfully earned them, but still you need to explain to the bank where you got it from and be shamed by them. The funny part is that after long and painful due diligence process the bank may still decline in providing service for you.
They can legally suspend your account or even steal your money
Laws are not made to protect people, they are made to protect the…
Neteller to Launch a Crypto Exchange
The way to make sure that the cryptocurrency momentum continues and that cryptocurrency credibility occurs is when big companies begin offering services based around cryptocurrency and other features of blockchain. This was certainly the case when Neteller recently announced it will offer a cryptocurrency exchange service in addition to its digital wallet services. The company announced that the 28 currencies compatible with the fiat wallet were able to buy, sell, and hold cryptocurrencies – including Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, and Litecoin. It makes sense to begin with Bitcoin and Ethereum as they are seen as the originators of what cryptocurrency and blockchain can do and also the future of how blockchain can be used, despite news that Ripple may be set to topple them all. Neteller’s move into cryptocurrency shows it has its sights set on a bright future of cryptocurrency and making it more accessible. But where do they stand now?
Neteller and Cryptocurrency
Neteller are optimistic about the exchange features of the digital wallet, claiming that they plan to add more cryptocurrencies in the near future. Neteller’s benefit is the ease at which one can begin their cryptocurrency trading journey. Not only do a range of banks offer services to fund the wallets and exchanges, but so do a variety of online payment options. This helps remove the barrier to entry that exists in…
Is there a Real Value to Binance Coin (BNB)?
Top 3 Reasons To HODL Binance Coin (BNB)
Predict The Bitcoin Trend and Win Every 5 mins!
Altcoins2 weeks ago
Verge (XVG) Unexpectedly Surges by 11% After Code Malfunction
Hot Updates2 weeks ago
Aaron System in Thailand enters into Mongolian Cryptocurrency Exchange market with UBWAVE in Mongolia
Bitcoin2 weeks ago
Stanford Lecturer praises XRP over Bitcoin
Bitcoin1 week ago
Why Bitcoin Price Remains Stable Before the Expected Hike
Blogs2 weeks ago
Three Biggest Things To Know Come Cryptocurrency Tax Season
Altcoins4 days ago
Why XRP is Worth Much Less than What Fans Expect
Blogs1 week ago
Could Jeff Bezos Turn to Bitcoin to Hide Fortune from Wife?
Hot Updates2 weeks ago
A Record-Breaking win at BitStarz – Player wins $1.35 Million!