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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 the $ 1 level for the first time.
Ripple (XRP) Price today
Since then, many people have become hypothetical about the possibility of a partnership between Ripple and J.P Morgan.
Previous predictions of Garlinghouse on Crypto in 2018 rejected by 2019
Referring to a previous forecast made around 2018 (which in 2018 will see a boom in the participation of digital assets due to institutional investments), Garlinghouse said it had rejected the forecast it had made at the beginning of the year next one. The CEO of Ripple also avoided giving a forecast for the almighty Bitcoin (BTC) under way to describe giving a verdict on BTC as a difficult task. Probably due to the persistent manipulation problem that exists in multiple exchanges. When he gave his latest predictions on cryptography for 2019, Garlinghouse said he expects an increase in the rate of transparency in multiple related projects in space, as cryptocurrencies move away from clandestine roots to better regulation and the subsequent adoption of mass. According to the CEO of Ripple, as a direct result of this 2019, it will be the time when banks will start to hold large-scale digital currencies. So, promote mass adoption.
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 J.P Morgan also announced that they were working on a payment system (in real time) that will have "chain 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 published.
Is Ripple the Haunted Distributed Ledger technology solution?
Ripple technologies are known as favorable banks and have 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. However, is Ripple (XRP) the chosen distributed ledger (blockchain) to guide the financial institution towards secure, inexpensive and immediate payments?
Since the bank has already launched its 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 functionality than the Quorum blockchain.
