Marucs Treacher, global manager of strategic accounts at Ripple Labs Inc., spoke at the Blockchain Live event a few days ago. At the meeting were several experts from the blockchain and the crypto industry. Mr Treacher talked about how RippleNet works and how Ripple Labs is working on many different projects.
He said that one of the most exciting things the company was working on is the payment solution currently under development. At the moment, Ripple has been able to collaborate with several banks around the world in order to create a better payment infrastructure. After months of work, the company was able to reach and contact banks in 40 different countries around the world.
He then said that the number of banks that will work with the company will increase before 2019. Marcus said that Ripple uses blockchain technology for its payment solutions, something that provides efficiency, transparency and security. In addition, he said that other products developed by the company will use XRP as a currency.
By the way, he cited:
"It's a blockchain technology, it's a DLT technology.We also have the XRP of cryptocurrency in the equation.We created a banking scheme that we call RipplNet, which is a cover version of the old Swift, from the 21st century."
Ripple Labs he was working with banks and other financial institutions in the last four years. In this way, the company was able to test the product and improve its functionality in real life. In addition, he explained that Ripple is a "payment company" with an open network that includes all aspects of the blockchain.
During the next week, Ripple could launch a new solution known as xRapid on the market. This product uses XRP virtual currency to process cross-border payments, increase liquidity and reduce transaction costs and time.
Ripple will participate in the Swell event that will host former US president Bill Clinton and the deputy general councilor of the International Monetary Fund, Ross Leckow. Other important figures in the financial and payment sector will also be present.