While Crypto hit hard at the end of 2018, Ripple continues to boast about positive news. Why does Ripple continue to thrive through the "winter crypt"?
The recently announced Ripple partnerships with the Kuwait government, as well as Ripple's Earthport by Visa acquisition, show that even in a descending crypt, Ripple continues to firmly position itself among the global financial giants.
.000 🚨 🚨 90,000,000 #XRP (33,493,911 USD) transferred from the unknown Portfolio to the Unknown Portfolio
– Whale Alert (@whale_alert) December 27, 2018
The Daily Hodl recently cited an interview with a manager at Ripple and The Asian Banker, with Marcus Treacher, Ripple's global strategic account manager, citing Ripple's growth areas following a lot of activity in the Middle East and in India, … in Southeast Asia. Treacher described Ripple's approach to these markets as dual, with xCurrent for the "payments side", continuing by saying that xCurrent is what is at the heart of the Ripple network. This connects banks and payment companies together and allows money to move in seconds around the world & # 39;
The other main product that Ripple is pushing is xRapid, of which Treacher said, & # 39; xRapid is the point at which we can separately connect to the XRP register for a very fast delivery of liquidity in the destination country as required. & # 39; The way that Treacher describes this potential network is enormous, with Ripple products almost replacing the current SWIFT interbank system on which global finance is based, noting, "We believe that for most payments, flows real trade and resale flows – which will move to a much more open interconnection model that Ripple has created – so, of course, we will dominate that central space. "
The Ripple plan to create an encrypted and enhanced global payment network puts it at odds with other cryptocurrencies. The value of Bitcoin has dropped 80% from its peak this year, which puts into question the fact that it can be a useful payment platform. Ripple, on the other hand, is making significant progress and partnerships because it is building a market and a utility for its cryptocurrency.
If Bitcoin purists or other cryptographic developers want to compete with XRP in the future, they will probably have to find a way to create a competitive global system for using Bitcoin or other cryptocurrencies.
To learn more: Indian remittances could get us out of "winter crypt?"
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