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Ripple says he is planning to use XRP's speed and efficiency to create a new level of Internet payment.
In a fireplace conversation at Techonomy, Ripple's primary market strategist, Cory Johnson, outlined how the company plans to bring the global financial system into the 21st century by dramatically reducing the time it takes to send cross-border payments.
For example, using a payment from Thailand to the US, Johnson says that Ripple's xRapid can convert the Thai baht into XRP, digitally send it through the Ripple network in the United States and then convert the XRP to the US dollar – all in a matter of minutes.
"So the state of the art is that a financial institution says to the other financial institution," We want to move $ 1,000 into Thai baht in the United States right now. It will result in "X" dollars. that? Click Yes. "Boom. Within a minute or two it's done …
Our idea is that there is no Internet payment level. We are creating a separate Internet. RippleNet is the phrase we use. "
As for the encryption and blockchain industry as a whole, Johnson says that many companies will end up using the technology in the future. For now, he believes that Ripple is leading the way.
"It's early, but I think we're probably the most advanced blockchain company, we have over 100 paying customers, we've moved over a billion dollars through our network, we're opening new corridors, I joined the company nine months ago he does – the company was making a deal every six weeks, now it's about every six days …
I think there will be many companies that use blockchain and also use digital resources, cryptocurrency, whatever you want to call, for technological solutions. It's only the first few days. "
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