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The ripple sees an increase in Hype for its products Including xRapid, xCurrent and RippleNet
In the last two weeks, several aspects of Ripple have been questioned, whether it involves the centralized side of things, the XRP token, or how they both have no apparent connection. The most important thing is to understand the usability of Ripple.
Despite all the negative press surrounding Ripple, a recent post shared by Coin Gape revealed that banks are very interested in the Ripple products that the company has to offer – an interest that actually comes from the globe. Here is a description of the examples given in their report:
The first example was that of the Canadian Financial Institution, Royal Bank of Canada (RBC). RBC is known not only for its banking services, but also for their attention in the capital markets. A particular investment bank, RBC Capital Markets (or a subset of RBC financial services), sees the potential not in what Ripple's products have to offer, but more on how it sheds light on the role of blockchain technology in the remittance sector
In particular, RBC Capital Markets cited the following,
"Although it is not necessary for xCurrent and payment processing, we believe it is useful to use the" complete solution " "as an example of how the blockchain could interfere the remittance market, including the use of XRP."
The investment bank presumably trusts each of the offered products to solve existing problems, ie the lack of transparency, liquidity, speed, high costs etc.
Another bank allegedly worthy of Ripple is the Kuwait Financial House (KFH), the bank that is currently testing Ripple. A document entitled "Choosing a direct connection for access to quicker payments" found two reasons why Ripple was taken into consideration. First, it is believed that Ripple's technology and platform can support faster transactions, especially across borders. The second seems to be a combination of transparency and security, two strongly correlated.
Although KFH is currently being tested, the bank said the integration process is boring. In particular, the Central Bank of Kuwait must approve the effort before moving forward. For the time being, the bank has not come to the conclusion on which product to choose, xCurrent or xRapid.
xCurrent and xRapid are closely related, especially in terms of services, however, the only main factor that separates the two is the fact that this is the only product that supports the XRP token . A previous post shared by Bitcoin Exchange Guide examined the disconnection between XRP and Ripple, as the product hypotheses of this last had no influence on XRP token prices, arguing that this was a reason for the stagnation of XRP.
Two other projects are contemplating whether Ripple is suitable, including Verso.Exchange and PetroDollars.
Verso.Exchange is another project that is currently working to form a bridge between "centralized and decentralized cryptanalysts", like Coin Gape We put all this and their team trusts that the use of "xRapid and xCurrent "can contribute to" transparent fiat to cryptocurrency agreements through Verso's Fiat Exchange Gateway (VFEG). " Likewise, PetroDollars hopes to forge an alliance with Ripple to help its currency support in the remittance sector.
What are your thoughts on the question in Ripple products? Do you think the XRP token is underused? Let us know what we should look into later in the comments below.
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