Ripple CTO David Schwartz wants to replace the global SWIFT payment network; Face the future of XRP


Ripple CTO David Schwartz presents his vision for the future of XRP and crypto in general.

Replacing the SWIFT System

In a recently released interview with Forbes magazine, he talks about Ripple's plans to replace the traditional global SWIFT payment network that was used to regulate international transactions in three days or even more and which involves some commissions which are fundamentally rather difficult to determine.

He says that Ripple's goal is to create a payment network similar to SWIFT but one "where the settlement, the actual movement of money, the actual plumbing below the surface , would be an open and decentralized network.The end of the game is just money that moves invisibly, with the same ease of information. "

Schwartz reveals the reason for his interest in the scrambled

The Ripple CTO also discussed of the purposes for which he became interested in Bitcoin and the entire cryptosphere.

He also talked about why he believes he has the power to create a fair and fair playing field for everyone in the global economy.

For him, the whole idea of ​​"disintermediation of shadow regulators who are not democratically responsible and not elected but act as policemen has resonated with me." This has taken me into the bitcoin community. "[19659002] Creating the code for XRP

After Schwartz started designing the initial code for the XRP register in 2011, he says it took about a month and a half before he knew for sure if XRP had the potential to become a vital ecosystem.

He said that the whole process was like inventing new material. He had to see if it was light, reliable, producible, durable and more.

You can see the entire interview with David Schwartz here.

Closing words

Ripple remained at the salient points for exciting developments and disputes.

The products of xRapid, xCurrent, RippleNet and xVia are more and more appreciated, and furthermore, there is always something new that Ripple shows off: partnerships, listings and announcements. All this makes XRP an excellent investment option.

XRP is currently priced at $ 0.287590 on CoinMarketCap.

Andreas Townsend Author

I am a writer, author and technical blogger since 2005. An industry observer who remains on top of the latest news, extremely fond of financial news and everything related to cryptography.

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