Ripple taking a proactive approach to the cryptocurrency industry


Ripple, Cryptocurrency-While Ripple is no longer the sole arbiter of the XRP currency, the company has managed to find relevance in the cryptocurrency space as well as being a primary driver for the shape of the sector.

Last week the announcement of a new partnership with PNC using the general register-based Ripple software, a system that would provide international money transfer for a fraction of the time and current costs required. Although the particular program chosen for cross-border transactions by PNC does not involve the direct use of XRP for liquidity, the partnership provides a strong indicator of adoption for the general sector of cryptocurrency and blockchain. PNC represents one of the largest banks in the United States with over 2400 branches in 19 states, as well as holding a 22% stake in the BlackRock trillion dollar investment company. Despite the lack of XRP used directly in transactions, the currency has seen an appreciation of the two-digit price in the days following the announcement, no doubt linked to the growing recognition of both Ripple and the uses of cryptocurrency in fintech. Ripple also took care to include XRP in the discussion on the adoption of growing banks, stating that the process of converting to banks in cryptocurrency for improved transactions required a nuanced and dynamic approach, with the ultimate goal of passing directly to the use of XRP.

While Ripple has not been a stranger to the acts of philanthropy and has spread the most positive virtues of cryptocurrency, Thursday saw the announcement of another charity project be guided by the company. Called "Ripple for Good", the new program provides an investment of $ 105 million for education and financial inclusion projects, with $ 25 million coming directly from the startup blockchain and the rest raised through donations. Education is crucial in the areas that Ripple is trying to influence with the new charity fund, especially the fields of mathematics, technology and science with an additional emphasis on financial technology (fintech).

While other cryptocurrency projects and members of the industry are looking for ways to grow their products financially, which often involved the short-sighted search for exchange lists and other esoteric characteristics, Ripple continually finds a way to guide the business. evolution of the entire crypto-landscape. By emphasizing education in a charitable way, Ripple means for the broader public that cryptocurrency is not a question of scarcity or greed and that the accumulated wealth of a booming industry will return to the foundations of society. Contrary to the typical image of cryptocurrency, which was depicted with the crime surrounding the purchases of online narcotics and the The Silk Road scandal, or through the incessant night millionaires who are supported by the traditional financial outlets during the end of 2017, Ripple is creating a new perception for crypto.

As if all this were not enough, the company also found a proactive approach to managing its relationship with XRP. Ripple could be the primary holder of XRP (with 60 billion coins blocked in the commitment) and undoubtedly has a hand in the direction of currency adoption, but managed to regain the confidence of the cryptocurrency community through its efforts to decentralize money as much as possible. Ripple has managed to elevate the virtues of cryptocurrency, being decentralization a necessity, without abandoning openly XRP. If nothing else, the actions of the company have helped the currency to thrive in recent weeks, despite the catastrophic crisis of 2018 in the evaluation of cryptocurrencies.

Get real-time updates directly to your device, sign up now.

Source link