CEO brad Garlinghouse in an interview with Japanese Kyodo News said that his company plans to cooperate with more than half the world’s banks. This happens after reports of the U.S. Congress was first introduced to cryptocurrency.
He said that his company will promote and hopes to provide the opportunity to use its technology in more than half of the global banks over the next five years.
According to him, this milestone will be achieved using the tools of Ripple that changed the cross-border transfer, which takes several days at the ordinary services, while the Ripple transaction takes only a few seconds.
Ripple previously collaborated with Western Union and MoneyGram. American credit company American Express also uses the Ripple payment processing.
Not all alone, Ripple is gaining momentum all over the world. Swedish Bank SEB, which processed more than 180 million U.S. dollars. Indian Axis Bank and Standard Chartered, which use a technology called Ripple that would keep track of late payments.
Brad, showing how Ripple plans to attract more financial service providers, said they will meet with financial institutions and regulators from different countries, so that they understand what is cryptocurrency and the blockchain, and that if they chose Ripple.
In anticipation of the review brad, the G20 has previously stated that regulation of cryptocurrencies or place an embargo on them doesn’t matter. The need to regulate the blockchain has been discussed by some experts in the cryptocurrency, and those who want to ensure their investments, before joining the new digital deal.
Similarly, the financial stability Board, which monitors the global financial Protocol in an attempt to achieve stability and regulation, wrote an open letter to the G20 Finance Ministers and Central banks managers on the day of the G20 summit, stating that cryptocurrency is not a financial threat.
– Initial assessment of the Council is that crypto-currencies do not currently pose a threat to global financial stability. Partly because they occupy a small place in the market in comparison with the financial system. Even at the recent peak of their total global market value was less than 1% of global GDP. For comparison, just before the global financial crisis (2008) notional value of credit default swaps accounted for 100% of global GDP – stated in the letter.
Brad’s opinion contradicts the opinion of many enthusiasts, who believe that the cryptocurrency should be completely unregulated and decentralized form of currency, which provides complete financial freedom in the hands of its users.
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