When the time comes for a sharp drop in prices, many traders and crypto-enthusiasts equal the value of the cryptocurrency ecosystem with its price trend compared to a certain traditional currency. However, if some virtual currencies are aloof and analyzed one by one, out of the main currencies there are those that show the real disadvantage of the present for what they offer or which will deliver in the future when it comes to the technological potential to find various solutions in various sectors.
One of the most discussed coins, the second for market capitalization, XRP [XRP] it could be at the height of what we can call useful when it comes to blockchain cases.
Right now [maybe mid-term] has no specific use case for any individual, but for many financial institutions it may have been the key to the door towards the understanding and the opening of solutions based on blockchain and cryptos.
Ripple [Ripple Labs] the company behind XRP was one of the most disruptive encryption companies to enter the space of financial technology and the realm of banks.
And & # 39; the CEO – Brad Garlinghouse has clearly emphasized the company's goal to provide fast solutions that reduce the friction inherent in completing cross-border transactions to banks and financial entities through the blocking of technology, replacing SWIFT .
"The technologies that banks use today that Swift has developed decades ago have not evolved or kept pace with the market … Swift said that not so long ago they did not see blockchain as a solution for the corresponding banking system. 100 of their customers claiming that they are not in agreement. "
Keeping in mind the above is the utility of XRP and how important it could take and consolidate its position in the financial world, the demand and the adoption will grow exponentially.
In a recent EWN post – it was highlighted as Cory Johnson [Ripple’s Chief Strategist] he explained the reason behind the very recognizable growth of 2018 of the company and its products.
According to Mr. Johnson, there is much more behind the marketing and advertising of his operations. To describe it, the chief strategist compared the second largest digital currency with Bitcoin – the pioneer of blockchain.
"Bitcoin has real technological limits about the number of transactions you can do at the moment. Not to mention … no one even talks to the minute … XRP does 1500 transactions [per] second."
Mining is increasingly expensive … and consumes power … And also the way in which [ineffectively distributes] power to the miners … currently 80% of all bitcoins are mined in China … XRP has no mining.