Ripple is one of the major companies on the development of products based on the technology of the blockchain. Products focused on providing solutions to many financial institutions, struggling with the disadvantages of the existing system. Chief among the problems facing banks is the speed of transaction processing. Ripple and solutions aimed at solving this problem, among which are the token XRP.
Ripple clients, especially banks joining RippleNet use XRP as base currency to transfer funds. However, in Ripple made it clear that the company and the cryptocurrency are two separate brands. In fact, as argued in a recent interview with Fintech Focus Podcast chief marketing strategist at Ripple Corey Johnson, XRP can exist without Ripple.
In an interview with Cory Johnson revealed some very important facts. First, he expressed his dissatisfaction with the traditional systems. How can people share the meme, documents or Emoji very quickly and easily, but they can’t do the same with money? He noted that such problems are the main that Ripple wants to solve. With the technology of Ripple people will be able to send money as fast as text messages.
Johnson also called XRP more advanced version of Bitcoin. According to him, XRP like Bitcoin, but he’s faster, his network RippleNet more scalable and transactional fees below. In his recent tweet Measles even raised the issue of alleged carbon emissions and massive energy consumption for mining bitcoins.
However, Johnson actually did not believe that XRP is a competitor to bitcoin. He treats it as a new system to transfer funds, which has been fighting against the SWIFT. SWIFT or Society for worldwide interbank financial telecommunication channels, according to Johnson, was unable to fulfill its mission by providing fast and reliable services for money transfer.
Since Ripple has partnered with banks and uses XRP as base currency, there are often problems associated with the regulation. First, Johnson expressed dissatisfaction with the slowness of the authorities in relation to solving problems related to the cryptocurrency market. In his opinion, the authorities should be more active in terms of optimization of the sector and ensure the legality and security of this sector. As of some serious problems facing the industry, he led the fraud, money laundering and criminal activity.
However, Johnson noted that the strategic partnership Ripple with financial institutions helped in the development of some specific procedures to ensure the legality of transactions with cryptocurrencies. Some of these include clear protocols for customer verification and security to prevent money laundering and other criminal Internet activity.
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Message Cory Johnson discussed the Ripple and the XRP appeared first on Cryptocurrency Ripple (XRP): news, course, the forecast value.