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In recent times, there have been huge developments around Ripple and blockchain technology. This continuous development could not be perceived as practical when someone could talk about it last year.
Last year, Ripple's CEO, Brad Garlinghouse, mentioned how financial institutions such as banks would have integrated Ripple into payment settlement, but its public relations team thought it was projecting too high . In his recent statement at the SG FinTech 2018 festival, Brad highlighted some of the series of developments that have taken place in the digital currency world.
Recently we have seen Ripple implemented in the financial systems of major banks around the world and now its customers can send money across the border using blockchain technology with ease – thanks to its framework.
Ripple, since it was implanted in 2012, has offered superior innovative implementations that have never been tested leading to continuous improvement of financial systems around the world. This has had a positive effect on financial systems as transactions are executed more quickly and effectively by improving customer confidence in institutions and financial systems.
Considering the recent partnership between the pan-European infrastructure, the immediate payment regulation and Ripple, the combination of the two efficient and effective systems is expected to yield positive results.
Many Ripple customers, as well as European customers, will be able to use digital currencies as a means of transacting virtual assets between digital platforms, thus increasing the use of digital money worldwide. It clearly shows how fast and early the Ripple technology is moving.
BREAK!
"The PR said I took a step forward by projecting that within a year I predicted financial institutions like banks will use XRP in their payment streams. The PR team says," Brad, do not say things like that. " ! " – Brad Garlinghousehttps: //t.co/wdGZeW4alM– 🐼 PandaRippleXRP 🐼 (@RipplePandaXRP) November 12, 2018
The pan-European infrastructure is implemented in the European Central Bank, which currently heads the financial sector for European nations that use and implement European monetary policies in the region. It consists of 19 countries that are Member States of the European Union. The euro is also defined as the most reliable currency in the world.
The sole purpose of the Target Instant payment system will be to create an instant platform that will allow the transaction of digital currencies throughout Europe using the European Central Bank.
The Central Bank will act as a route that will facilitate the regulation of the transfer of settlements from one place to another, thus improving the transmission of cryptocurrency across the border, the world and Europe. The current development will make it easier for many users to switch to Ripple blockchain than other payment systems over time.
Ripple Blockchain Next Year
According to the CEO, financial institutions and banks will provide custody solutions for digital resources in the coming year. These custody solutions are products offered by third parties for archiving and security purposes. Its introduction is with the expectation that it acts as the missing link between fund managers and investors seeking to enter the market.
Today @bgarlinghouse he said that banks will provide custody solutions for digital assets next year.
– Shubham ⚡️ (@ ManglaShubham94) November 12, 2018
With the development of banks, there will be more investors willing to use digital currencies in their daily transactions.
If in the near future there will be a chance for IMF and Ripple Blockchain to collaborate and integrate their systems, this will produce good news on the whole blockchain and cryptocurrency ecosystem.
These could be very beneficial for the digital and financial world as it would mean that the instant digital payment system will run in the IMF system in order to be globally recognized and used by users in different countries to make transactions of their digital currencies beyond border creating a great revolution.
With these ongoing ongoing changes, no one can agree that Ripple will be brighter 2019 considering everyone's interest in adoptions and partnerships that are bound to revolutionize the digital world in style.
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Disclaimer: this article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and / or its affiliates, employees, writers and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own in-depth research before investing in any cryptocurrency and read our full disclaimer.
Image courtesy of Flickr
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