Ripple's suite of solutions can help Amazon and XRP can change the current financial system, says Cory Johnson


The chief market strategist at Ripple, Cory Johnson, has released some bold statements on Amazon and retail giants in general.

He believes these could benefit many if they were to use Ripple's cross-border payment solution suite.

Improve cross-border transactions

Cory Johnson addressed the theme of Ripple's goal of improving transaction speed and dramatically reducing cross-border payment costs during Cornell's New York Entrepreneurship Summit.

At one point, he was asked where he saw Ripple in 10 years and said that he sees the company's technology becoming extremely important for some of the world's largest companies, supporting them in transferring money and paying their employees in an economic and effective.

"We can examine the 23 trillion dollars that are in our and your accounts that are somehow set, pending prepayment, because the money is so slow," Johnson said.

He continued and bred the giant Amazon: "Amazon – probably the most capital-efficient company in the history of the world – has a billion dollars around accounts to pay employees somewhere, or to pay a seller from some part because the movement system the money is so slow. "

Johnson also said that he could not imagine "how a world looks like in 10 years when it is possible to use that worker in Bangladesh here from the US Or a Thai nanny can send money home from Japan to pay for her family, to get her his family with a truly better standard of living. "

Johnson also predicted that they would see more people from more companies around the world be able to do business together. He said that it is not just about changing the business of today, but also about the business of the future.

XRP can change the current financial system

Johnson described that Ripple XRP's digital asset enables very fast transactions and has also raised Ripple SWIFT's competitor.

The current state of finance for moving money around the world is based on SWIFT.

He said it was written in 1973 and is managed by a consortium of banks with thousands of employees in Belgium.

He addressed the shortcomings of the system, underlining the fact that Ripple can provide solutions to solve them.

Eduard Watson Author

A financial writer who has been an expert for over 10 years, an active observer in the industry and a gadget enthusiast.

[ad_2]Source link