CEO Ripple brad Garlinghouse recently participated in the Stanford Legal podcast, where he spoke about various aspects of the company, XRP and technology of the blockchain. Some of the highlights of the podcast is devoted to the explanation Garlinghouse about XRP, but also a deeper review of the goals and objectives of the proposed products.
During the podcast, the Director-General has tried to make the explanation with regards to the differences between Ripple and XRP, stating that some members of the team who worked on the XRP Ledger, worked on the Bitcoin in the past. Speaking about it, Arlinghaus said they have seen some scalability problems with bitcoin, for example, the cost of consumption. They wanted to create a digital asset to address some of these problems.
Further, talking about how to use digital assets for cross-border transfers, Arlinghaus gave an example of their products, the purpose of which is to solve the problems in cross-border payments.
– Ripple uses its digital asset to solve cross-border payments. If you are sending money to other countries by traditional methods, the translations are very slow and very expensive, – said the General Director.
Another interesting insider Garlinghouse was about technology RippleNet. He explained how the technology gives its users the opportunity to carry out more cheap, fast and safe cross-border payments.
– Speaking of problems, the General Director of one of the largest banks in Australia told me that 40% of all consumer Bank transfers lead to phone calls to the service center. The depressing thing for the Bank is not only that they have to pay the cost of the phone call, but also deliver news in a few days while going through a translation of said Arlinghaus.
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