We have become accustomed to the fact that each month, tape of the news sites are full of colorful titles that Ripple once again agreed to cooperate with a commercial Bank or a money transfer system. Out of habit we perceive the news positively, believe that against the background of these messages, the rate of XRP can go up. The endless stream of new information about the project is already jammed in the memory 6 important achievements of the company Ripple, which occurred in the second half of 2017 of progress in negotiations with the Central banks of the countries. To date, management has a Ripple confirmation about the interest of introducing the technology from:
1) the British Bank of England;
2) of the Federal Reserve system of the United States;
3) the Reserve Bank of India;
4) the Monetary authority of Singapore;
5) the National Bank of Indonesia;
6) the Central Bank of Saudi Arabia.
For what purpose major financial institutions of such countries generally pay attention to blockchain project and officially declare the beginning of cooperation? As such arrangement may affect the development of the Ripple project?
The important thing is that Ripple has to offer such giants is a vast field for new research. The rapid penetration rate of the blockchain in the world of financial calculations, pushes the Central banks to begin experiments on the reduction of interbank transactions. With the rapid changes in Central banks, it is important to be prepared for them. It is obvious that the choice of platform is likely the preference will be given specifically “banking” the project — Ripple, in particular its product xCurrent.
Analyze the situation on the example of the UK. The national Bank of England is hard to stay away, in that time, both Barclays and Royal Bank Of Scotland officially announced the beginning of work with bloccano. If to close eyes on the development of technology today, a year and a half, the commercial banks will be much smarter and will be able to conduct transactions faster, outside the jurisdiction of regulatory authorities, sending them a formal report to comply with the law. In fact, interbank transfers can get out from under online control of the Supervisory authority.
The second reason for the involvement of officials similar to that of their colleagues of the commercial structures — the desire to significantly reduce the cost and increase the speed of interbank transactions. As we know, xCurrent allows you to do this tens of times cheaper and thousands of times faster. But on a national scale it will be possible only if the regulator will initiate universal changes.
In February 2018, the world has 180 commercial structures in 13 countries confirmed using Ripple, you can expect all Central banks to be imbued with the idea of the blockchain, and we often will hear new announcements on partnerships. Very much hope that the Central banks of the CIS is also involved in the study of fresh technologies. However, with very high probability, in the course of XRP, it does will not be reflected: only if trend is not supported by an army of speculators.
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