At the end of the year, many platforms are releasing a review of how their companies have done. Ripple is one of the last to publish this type of content, stating that "the prospects may not be so desolate". They started their report on the progress their platform has made, preparing them for a more widespread adoption next year.
One of the points of particular interest was the regulatory changes in the blockchain and cryptocurrency around the world. Many regulators are beginning to see how valuable it is to add this type of technology in their various sectors, leading them to establish the framework necessary for the use of digital resources. As such, the jurisdictions that have taken an interest have quickly turned into catalysts for the greatest changes in space.
Ripple it also raised the way in which institutional investors and Fortune 500 companies quickly accepted and adopted these options. So far, IBM and Visa are just some of the companies that have already started blockchain initiatives, while custody encryption services are being reviewed by Goldman Sachs Group, JPMorgan Chase and others.
With Ripple, these changes in the industry have made it possible to make individual progress even in the business and technology world. Their global payments network, RippleNet, currently reaches 40 different countries around the world, located on six continents. With XRP, the company managed to maintain on-demand liquidity and saw its first companies on RippleNet that were able to leverage xRapid, which were MercuryFX, Cuallix and Catalyst Corporate Credit Union.
The senior vice president and chief operating officer of this, Brad Ganey, commented: "Traditional international experience in the cable industry can not meet today's expectations in terms of price, speed and ease of use. Blockchain technology, and in particular Ripple's xRapid product, solves all three challenges simultaneously.
RippleNet also gained publicity after making it possible to access their services for a wider range of areas. Ripple remittance services have improved the performance of Santander's OnePay FX and CoinOne Transfer Cross mobile apps. Customers also benefit from this, considering the lower costs and errors of Ripple technology.
The Ripple changes have also brought more use cases for cross-border payments, including the XPring initiative in May that made it possible to "build infrastructure and drive blockchain growth through investments and partnerships." XPring has been responsible for multiple blockchain projects, such as Omni and Securitize.
Also this year the University Blockchain Research Initiative (UBRI) was established, which contributed to the training of students who could be future developers of the fintech works. A participating university, the McCombs School of Business of the University of Texas at Austin, expressed their hopes for the program. At the beginning of the year, Professor Cesare Fracassi hopes to "build a blockchain core for the University – in a way that reflects its scale and use in the real world.
As the 2018 ends and the new year approaches, Ripple has formulated a hypothesis for the coming year –
"We anticipate that 2019 will not only bring further regulatory clarity and widespread awareness of the impact this new technology offers, but it will also be the year when interest and investments in blockchain and digital assets will give the A Widespread Adoption The year a critical mass of financial institutions begins to rely on this technology to drive global payments and, as a result, we begin to change the way money moves in Worldwide ".