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The point is that today's customers, individuals and companies, are becoming more sophisticated and therefore the industry of meetings, incentives, conventions and exhibitions (MICE) is actually knee-high with the economy digital the main destructor.
In line with this, the Singapore Monetary Authority (MAS) and The Association of Banks in Singapore (ABS) have organized the Singapore FinTech Festival 2018 is one of the world's most important celebrations of a corporate event and with it is a wonderful melting pot creativity, festivities and business, and whenever there is business and blockchain, Ripple executives are usually present. It is underway, but in a recent mutual interview with Ross Leckow, the Deputy General Counsel of the IMF, Brad Garlinghouse, said that his previous predictions have come true.
While this is perfect especially for investors and enthusiasts who recognize that blockchain technology is here to stay, Brad Garlinghouse attributes all this to a mature regulatory framework that has a direct impact on the adoption of blockchain. He gave Thailand as an example to praise them for their commitment to adopting a clear framework that protects the consumer and at the same time encourages innovation.
In Thailand, several digital resources including XRP have been legalized and with clear guidelines, blockchain companies such as Ripple can innovate and provide solutions to real-life problems such as cross-border payments, where the Asia-South region received incoming remittances of approximately $ 130 billion in 2017 alone. Ripple facilitates operations for these companies by improving efficiency and reducing costs.
"This clear regulatory environment facilitates the application of blockchain technology and digital resources to solve real business use cases, such as improving cross-border payments in the ASEAN region.East Asia markets have received $ 130 billion in remittance payments only last year, they are expensive and the market is ripe for the adoption of new technologies, such as blockchain, to drastically reduce costs. "
Going forward, we expect to see many financial institutions jump on the blockchain bandwagon as the laws are formulated as a guide. Like Fidelity Investment, we expect to see more banks and even stock exchanges providing services such as custodial services, which in turn will pave the way for institutional investment.
