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Many of Ripple's executives have taken the position to share what they believe Ripple is all about and how far the company has come in terms of supplying products and attracting new investors.
This was reported by the Bitcoin Exchange Guide, where the product's SVP, Asheesh Birla, product director, Craig DeWitt and Chief Market Strategist, Cory Johnson, all shared different aspects of RippleNet. The next to take the stand is none other than Ripple's Global Head of Infrastructure Innovation, Dilip Rao.
Ripple to expand in Dubai, 200 institutions on board until now
During a conference in Dubai, Rao revealed that Ripple will now expand in the Middle East, with Dubai as their first target market. He spoke mainly of the office that will be set up along with how Ripple will comply with the regulations established in Dubai.
As for the Dubai-based office, it was announced that it should enter into force by the end of 2018 and that the primary objectives of the company are to initiate "cross-border payments", adding that "there is a huge requirement for cross-border transactions that will support the economy both within the region, but also in terms of business ".
He also shared that Ripple has since collaborated with nearly 200 institutions, most of which come from the Middle East as the region defines it as one of the "fastest growing markets".
Is XRP the solution to the liquidity problem?
During the same conference, Rao referred to the fact that many are opposed to the business because of the work alongside financial institutions, mainly due to the centralized nature of this one. He, however, does not see it this way, but instead sees it as a collaboration that will bring everyone closer to the final solution. In particular, he said:
"Ripple worked with banks rather than against them […] develop a solution that is acceptable to meet regulatory compliance requirements around the world. "
He later talked about Ripple's objectives for the InterLedger protocol, in which he described the effort to bring together "a group of people interested in making the value movement frictionless", which will then work on the construction, "a new protocol for enable the logs to connect with each other. "
Rao also explained why Ripple does not use public records. Evidently, it is due to the fact that they are working with financial institutions, which naturally require a strong sense of "privacy and privacy", as he stated. Furthermore, he believes the Ripple token [XRP] it has the potential to "solve the lack of liquidity in many corridors as a bridge resource to convert from one to the other".
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