In a video recently published by Money20 / 20, Chris Larsen, the co-founder of the leading blockchain company, Ripple spoke about the liquidity problems that exist in the financial sector. He said digital resources are essential for solving liquidity problems, as trillions of dollars are inactive to provide liquidity.
He began by addressing the 2008-2009 financial crisis and stated that the world still does not have a solution to prevent the next collapse. This is where he mentioned digital money as the key to unlocking solutions to the problem. In his words:
"10 years after the financial crisis we do not yet have the necessary infrastructure to prevent the next and I think it is here that digital resources can really help because an efficient digital asset can really solve some of the key problems of global liquidity. "
Larsen commented on the money movement around the world, implying that the processes are obsolete. He also mentioned the Ripple XRP native token as an effective resource for reducing inactive capital sitting in trillions in the world. This will also allow for an easy and immediate cash movement as banks, payment service providers and businesses will be able to make transfers without having pre-positioned money all over the world.
"The world has billions and billions of dollars tied in liquidity just to get around as much as the value movement is gross around the world, if with a truly efficient digital asset something like XRP, this is what we believe will be the most efficient, now you can reduce trillions and trillions of capital from being tied up ".
xRapid is a product created by Ripple to guarantee cheaper and faster cross-border payments for users and has recently been released in the commercial market. Use XRP as a bridge currency to provide liquidity at low costs and settle transactions. Furthermore, the product also eliminates the requirement for a cross-border remittance account.
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