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Ever since Ripple started making good traction, there has been a lot of talk about the company that took over from SWIFT, but it was not a real face-to-face confrontation where companies are discussing cases – until now . The talk on the cryptic streets is that Ripple and SWIFT are finally ready for a heated debate at the next ITC conference in Germany.
The big question
In the long-awaited battle, the two companies will be represented by their global banking managers: Marjan Delatinne for Ripple and Wim Raymaekers for SWIFT. Event organizers have already presented the topic of the debate, and touches on the most relevant areas challenged by the two companies. Here is a fragment of the subject:
"How will technology affect our daily lives as treasurers, with the banking sector challenged by new concepts and ideas – will the established banking structures be overturned on their heads?"
Basically, the debate focuses mainly on the perception of each company of how the future will be. Of course, this is a clash that could define the next step in global transfer systems. The panel, which will be presented in February, will see Martin Bellin as moderator. Martin is CEO and founder of Bellin, a company that deals with corporate treasury management.
Brad: we are taking over
Ripple has made good moves in the banking sector because he has hired more and more banks in his RippleNet and induced to use xCurrent and xRapid. At the moment, the company claims to have over 200 customers. SWIFT claims to have over 11,000 customers. However, Ripple's new technology that reduces remittance fees from $ 20 to just $ 2 poses a serious challenge to the SWFT domain.
In an interview, Brad Garlinghouse of Ripple denied rumors that the company is considering a partnership with SWIFT. According to him, Ripple is ready to take over from SWIFT.
