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Ripple's chief market strategist, Cory Johnson, says retail giants like Amazon could benefit from Ripple's cross-border payment solution suite.
At Cornell's New York Entrepreneurship Summit, Johnson talked about Ripple's mission to dramatically improve speed and reduce cross-border payment costs. When asked where he saw Ripple in 10 years, Johnson said he can see the company's technology play a key role in helping some of the world's biggest companies move money and pay their employees in a timely manner. , efficient and low-cost.
"We can look at the 23 trillion dollars that are in our accounts and yours that are kind of set up, waiting for advance payment, because the money is so slow …
Amazon – probably the most efficient company in terms of capital in the history of the world – has a billion dollars that runs into accounts to pay employees somewhere, or to pay a seller somewhere, because the system to transfer money it's so slow.
So, I can analyze all this and understand how it is done. I can not imagine what the world is like in 10 years when you can use that worker in Bangladesh here from the states. Or a Thai nanny can send money home from Japan to pay for her family, to have a family with a much better standard of living.
In places where an extra $ 5 a month is a life-changing difference. I can not really imagine it, but I'm pretty enthusiastic about it …
I think in general, we'll see more people in more companies around the world being able to do business together, and I think it's fascinating. It is not just changing the business as it is today. It's how business could be in the future. And I think it will be very different. "
Johnson also talked about the role cryptocurrencies like XRP could play in redefining the current financial system.
"XRP technology enables very fast transactions.The state of the art in the financial sector for moving money across borders is based on a messaging platform called Swift." Swift was written in 1973 and is managed by a consortium of thousands of banks with thousands of employees in Belgium And in order to make any changes to the Swift network you need to get all the disparate pieces of the financial system essentially to agree on it.
So it was not a house of innovation … And it was not a technological solution to solve what happened until Ripple's products did not arrive. And if it were not for XRP technology, you could not really exchange value thousands of times in a second, and thanks to this technology, that's why it can be so cheap. "
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