"This is my third collapse in the crypto-market, and I do not have the chance" – Ripple & # 39; s Asheesh Birla

In a PCMag media interview, Asheesh Birla, Ripple's Senior VP of Product Management discussed the cryptocurrency mechanism. We have seen that Ripple is constantly on its way to building decentralized products on demand such as xRapid, xCurrent, xVia, RippleNet and others. During the discussion, Asheesh approaches by explaining the difference between cryptocurrency and blockchain. He started talking about the cryptocurrency regulation, the goal of cross-border payments from Ripple and the future of decentralized apps.

Ripple price factor

Since the battle for the bear market between XRP and ETH took place several times these days, Asheesh Birla's first talk began with the question about the factors that influence the price of Ripple's day-to-day operations. He said that they do not think about the daily price factor rather than the longer term of the market. As Ripple's principal, he advises that the other cryptographic project should think long-term rather than considering the market for daily volatility.

He explains it;

This is my third accident now in the crypto-market, and I do not have the chance. The downside is that sometimes you happen to crash and eliminate all those who are not focused on solving real problems and real use cases. And I think you'll see some really interesting companies coming out of this next recession.

Blockchain projects are more likely to be built on Google Sheet

He strongly believes in volume and liquidity to make the digital app visible. During the talk about how blockchain companies separate coins from technology, he explains that the key to blockchain is to provide a better 10x experience and if not "do not use blockchain" he advised. He also claimed that some of the projects that claimed to be on blockchain technology are not essentially working on it. Rather, projects such as blockchain tourism appear as Google and Google Sheets & # 39; Not a sophisticated decentralized blockchain database & # 39; He said.

So this was the frustrating part. When prices rise, people use it as marketing to get funding or to get rid of [their coins].

Questioning the blockchain beyond the Google spreadsheet and database and his opinion on Ripple's widely used blockbuster app, he points out the high commissions charged by Citi Bank, JP Morgan and HSBC for cross-border transactions. He stressed, the technology behind Ripple can work cross-border "without friction and without permission" and has criticized these banks, claiming;

Today, if you want to make money across borders, you are essentially relying on Citi Bank, JPMorgan or HSBC. These three banks control most of the cross-border flow. Either directly or indirectly, you will trust these three companies to move money on your behalf and they will pay the taxes they want. If they do not care about the emerging market or other companies, the expenses rise and rise.

Trends and potentials for ripple and blockchain in Southeast Asia

In his view, Southeast Asia with a friendly regulation knows the value and potential of blockchain technology. He compared the growth of blockchain with the trend of mobile phones and mobile devices. In addition, he stressed that instead of the wire technology of the years' 50 or SWIFT, & # 39;we will use the blockchain'. However, according to Asheesh, there is 80% of the commercial traffic coming from Asia, which takes into account three factors that derive from it;

• The regulators are really friendly
• The GDP of these economies grows 7-8 percent in the year
• They switch from cash to digital via mobile payment in a crazy clip

Ripple is concentrating countries like India to easily carry out bank transfers abroad. As a result, he said that Ripple's regulatory team is working closely to build progress where Indians can link their bank account directly through their phones and access them. Furthermore, Ripple's goal in India is to educate regulators about the fundamental and potential of the blockchain to move money.

Ripple in 2019 closely analyzes companies that build an app on XRP. Indicates some of the companies powered by the XRP register including Ripple for cross-border payment, Coil which uses the XRP register for micropayments, Omni which uses XRP Ledger for rental and storage.

The content presented may include the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or the publication has no responsibility for personal financial loss.