The "800-pound Gorilla"There was a session to provide answers on adoptions of digital resources by organizations that are already using them for cross-border payments: Traditionally, the infrastructure for cross-border payments is slow and very expensive. therefore a solution to this process is Ripple it is positioned for large entities like the preferred one.
Most banks and payment service providers around the world are not only interested in the use of digital assets, but also understand the value of using them in payment payments. These results are according to the very first Blockchain in Payments Report released during the speech a Swell 2018.
The discussion was moderated by Kanchan Kumar, Remitr CEO, and has been completely focused on providing solutions on the adoption of digital resources by organizations that are already using them cross-border payments.
Kumar first outlined the impact that large digital resources could have on the cross-border payments industry. He mentioned the approximation of $ 10 trillion unused in pre-funded accounts worldwide. Kumar linked the figure to the importance of digital resources before asking the panel what value they saw in the adoption of these resources.
The panel consisted of;
Bittrex Head of business development, Kwon Park.
IDT of Senior Vice President [SVP] of Payment services, O & Hagan.
CFO of Cuallix, Nicholas Placious.
SVP / COO of Catalyst Corporate Credit Union Union.
Palacios, the company that implemented the use of digital resources for payments was the first to respond and showed how his company is focused on "Cost efficiency, efficiency over time and offer customers the best product we have".
The use of digital resources will largely address the problems faced by users of cross-border transactions. Ripple has so far played an important role in making cross-border payments quick and easy. O & # 39; Hagan he elaborated that his company started using digital resources two years ago, establishing payments in Mexico and Nigeria.
He believes that the use of digital resources like Ripple has really put in & # 39; Center of Experience & # 39; for his company. He said that the speed is equal to the reliability in their business and this is the expectation of the customers.
Park said, on behalf of the group of experts, what Ripple wants to do is very innovative and good for customers. He explained that the main objective of Bittrex was to be a platform able to support the best uses of digital resources.
Ripple & # 39; s Role
Ripple [XRP] has great potential for revolutionize traditional payment processes allowing secure and immediate payments at lower costs, thus contributing significantly to the digitization of the financial sector.