Cryptocurrencies and the world of digital assets in general, have made it a point to use their applications to solve real-world issues. One of the cryptocurrency giants in the news for the same reason is Ripple, the Brad Garlinghouse-led organization focusing on making the global payments system more efficient.
In a recent interview, Monica Long, Senior Vice President of Marketing for Ripple spoke to Trader Cobb on Ripple’s area of interest, as well as the institutional client aspect of the company’s technologies. Long stated that Ripple’s main mission is to identify the use cases of blockchain technology in the payments ecosystem and then make it better. She claimed that Ripple aims to improve the ecosystem for individuals and institutions. In her words,
“We want to remove all friction from the global payment system based on the principle of the core technologies that will enable interoperability between payments networks. Ripple’s role is to be a technology service provider while at the same time looking to rewire the infrastructure without becoming a network operator. It is the financial institution that will use the technology.”
The Ripple official also touched upon other payments that the company plans to replace, one being the control of liquidity by the “Citis and HSBCs of the world.” Crypto create an open marketplace, while at the same time, democratizing trading, she said. Long added,
“If you are more independent like a hedge fund, then you can provide liquidity for payment flows like never before.”
Monica Long also commented on the ongoing centralization vs decentralization Twitter debate, with respect to Ripple and XRP. The Senior VP of Marketing cleared the air and stated that the central point of anger arose from the confusion with respect to the differences between Ripple and XRP, the third largest cryptocurrency on the charts. She said,
“RippleNet puts the institutions in the driver’s seat because they know the network faster and more scalable when it comes to settlements.”
Ripple was also in the news recently after a Twitter user claimed that Ripple CTO David Schwartz was selling his XRP, calling it the ‘biggest warning sign’ for XRP holders. The tweet from @hlnoooo read,
“Warning to all $XRP holders.
Ripple CTO @JoelKatz recently selling his $XRP stack is the biggest warning sign one could ever get. This is the most bearish sign for $XRP I have ever witnessed since beginning of ’17.”
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