During an interview with CNBC on Tuesday, Brad Garlinghouse, CEO or Ripple, said that the future of Ripple will be bright as many banks will use the XRP register by the end of 2019. The XRP registry is an open source code base. which can execute over 1,500 transactions in every second. Requires the XRP coin.
This is not the first time that Garlinghouse talks about Ripple. During another interview at the Money 20/20 conference, Garlinghouse got to grips with Ripple. He said:
"I've said before that by the end of 2019 the xRapid registry will be a significant tool in banks all over the world.Before 2019 comes to an end, I think dozens of banks will embrace Ripple."
Ripple will be adopted by banks shortly
One of the projects the company is working on is to provide liquidity solutions for financial institutions that enable them to make cross-border payments faster, more transparent and more cost-effective than traditional methods. The xRapid project is one of the proposed solutions. This system has been developed for institutions that are reaching emerging markets. Improve cheaper and faster transactions.
The system filters third-party collections for the most competitive options. After the money has been converted into XRP, it will be converted into any currency requested by the recipient.
The system depends on scalability and speed, so transactions are completed within minutes at the national level, while cross-border transactions may take 2 to 3 days for remittances of high amount.
Regarding the price of Ripple, Garlinghouse said:
"The industry is nascent and speculation is what dominates the action of the market.In the time, people will understand the unique cases of use.Bitcoin will be a panacea as people suspect it will be. Bitcoin would solve several problems, with different types of blockchain and master being created every day. "
Will Garlinghouse's prediction come true? Will Ripple be adopted by several banks by the end of next year? Will this adoption affect the price of Ripple?