Ripple has made moves to expand its XRP support network
Fintech institutions around the world. A recent move could help the company
establish its presence in the land of the Red Dragon.
Ripple's latest partnership has been signed with the Institute
for Fintech Research, Tsinghua University (THUIFR). THUIFR is a joint entity
established by the PBC School of Finance, Institute for Interdisciplinary
Computer sciences, School of software and jurisprudence at Tsinghua University
in December 2017. It is a leading academic institution dedicated to research,
political advice, exchange and cooperation and innovative incubation in
Ripple and the Institute for Fintech Research Partnership
will aim to launch a Blockchain Technology Research Scholarship Program (BRSP)
for graduate students in China. International regulatory policies and development
blockchain technology should be the main points on which this program will touch. The
program is a part of Ripple's efforts to establish communication and
relationships with the main universities of the world through their University
Blockchain Research Initiative.
Analyzing the regulations and blockchain policies through the
the world is a subject with further gravity in China, a country that has long been
known for its rigorous position on technology. This did not stop the Chinese
the blockchain community grows significantly and joins the blockchain revolution.
As such, the creation of BRSP should encourage a new wave of
fresh blood that will further boost the blockchain world in China.
"I believe this
program will be of great help for their future research or career in the field of
blockchain technology " said Ivy Gao, director of international cooperation
and development at THUIFR.
Ripple's comments were provided by Eric van
Miltenburg, SVP of the global operations company. Mr. Miltenburg believes it
THUIFR's efforts to introduce young Chinese into the blockchain world
I'm exactly what Ripple likes:
"The goal of the program –
to provide students with opportunities in blockchain research – align closely
with that of Ripple's University Blockchain Research Initiative. We are enthusiastic
to support THUIFR in this effort and look forward to its launch. "
Some members of the community were not so enthusiastic about hearing it
China will take its hands on Ripple technology:
"The skeptic / suspect in me says that nothing happens in China without the fingerprints of the Chinese government about it, about it, in it.This is necessarily good for Ripple? China does not grant such access unless see a way to steal intellectual property " said the Reddit XRPingster user. In the end it remains to be seen how this partnership ends up developing. One thing is certain: it has the potential to help Ripple establish itself as a cornerstone of the regional blockchain.
Good for Ripple is not necessarily good for XRP
XRP uses a different method of validating transactions such as Bitcoin. The main distinction is that the Ripple network is made up of nodes that can not be executed by anyone, even if XRP fans are ready to tell you it's not true. Technically, it is possible to run a node but nobody will know its node and will not trust it if it is not in a centralized list selected by the company itself, completely compromising the decentralization of the network. Those chosen to run the validation nodes on the Ripple network are often large companies, financial institutions or banks themselves.
Furthermore, some XRP owners mistakenly believe that the XRP token is a key element for the operation of the company's cross-border payment solution. Unfortunately this is not the case since most banks seem to prefer a Ripple product known as xCurrent that does not use XRP at all.
If coupled with the Chinese government's hostile stance towards cryptocurrencies like Bitcoin, as well as their crackdown on initial coin offerings (ICOs), it seems highly unlikely that a successful Ripple expansion in China would spike 39; adoption of XRP.
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