In December of last year, Ripple CEO – Brad Garlinghouse announced the presence of fifteen executives of J.P Morgan in a speech he gave about Ripple technologies (XRP). Then, the value of XRP exceeded for the first time the level of $ 1.
Price of Ripple (XRP) today
Since then, many people have become hypothetical about the possibility of a partnership between Ripple and JP Morgan.
The potential impact of the partnership
The collaboration will have a significant effect on the value of money, as Ripple's xRapid characteristics attract the attention of the largest investment bank in the world. Recently, the official website of the Treasury of JP Morgan also announced that they were working on a payment system (in real time) that will have "cascading benefits" for its customers.
This announcement has certainly ignited the hope for XRP and Ripple investors, but is the financial institution ready for a collaboration with XRP or Ripple Inc.?
In a report that was published about a week ago , a statement by an insider was made public of the intention of the companies to cooperate soon enough. According to the statement, companies were having discussions and consultations with the titles of partnerships that are expected to be huge when they are published.
Is Ripple technology chosen as a winning choice?
Ripple's technologies are known as favorable banks, and has seen the massive adoption of the xCurrent system by over one hundred financial institutions according to Ripple's CEO. J.P Morgan intends to introduce a new payment method in the United States for the first time in forty years, which aims to simplify the processes from the start of transactions up to reconciliation.
This sounds more like Ripple's xRapid technology. Nevertheless, Ripple (XRP) is the chosen distributed ledger (blockchain) to guide the financial institution towards secure, inexpensive and immediate payments
Since the bank has already launched its own blockchain – Quorum, it is likely that the bank will not adopt Ripple's blockchain.
But Ripple Inc. still has the opportunity to collaborate with the bank as it offers a more developed and advanced platform with better features than the Quorum blockchain.