Since last year we have seen a big spike in demand for blockchain technology. More and more financial institutions and corporations are interested not only in technology but also in cryptocurrency. However, many major players in the banking sector do not want to play by these rules. The concentration of financial power allowed them to increase their profits at the expense of other, smaller, banks and other financial institutions. Therefore, the best banks do not want to say goodbye to the current SWIFT system. But what happens now?
Over the last couple of years has produced thousands blockchain startups, and many companies focused on financial services, begin to work with new systems. Some of them are now become very popular, offering much better rates than banks.
The Blockchain eliminates the need for third-party intermediary, creating an instant, reliable and secure transactions. So work and products Ripple – XRapid, XCurrent, XVia. Bank of America stated that strong competition with cryptoprocta can “adversely affect the income and willingness of our customers to do business with us.” According to analysts, peace of mind the majority of banks will soon be over, and until the situation alleviates the uncertainty of cryptocephalinae. The adoption of clear rules and support the blockchain technology and cryptocurrencies will mean the end of an era of large banks, especially if they will not be included in the new system.
Much has been said about the rate of development of Ripple in terms of increasing the number of partnerships – two in a week. Experts believe that in these circumstances, banks need to decide soon and that the next 2 years will be decisive for the entire financial and banking sector.
We will add, do not cease talking about adding Rpple XRP for one of the largest kryptomere, Coinbase, which have been ongoing since January of this year. Brad Garlinghouse believes that this cooperation “in the interests of Coinbase,” as the company decides are important to industry issues, and sooner or later must take place.
Note, at the time of writing the exchange rate Ripple again shows a decrease – 7% (in the red zone is the entire stock market). Price per coin XRP now fell below $ 0,5.
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