Ripple recently shared their annual Blockchain in Payments Report, which gives an exhaustive insight in to the Fintech industry and ever increasing role of Blockchain Technology.
Different entities are competing to take control of the future global financial infrastructure. Nations need to work in sync with each other to implement a clear regulatory framework to get the business of payments up and running, thus making the best out of the blockchain technology.
The G20 have already realized that the current global financial infrastructure is in real need of an upgrade. The Financial Stability Board has delivered a roadmap to #G20. This to enhance the cross-border payments by concrete actions.
Alejandro Díaz de León, CPMI Chair and Bank of England Dep Gov Jon Cunliffe and Banxico Gov previously expressed that Cross-Border Payments sit at the heart of international trade and economic activity. However, for too long cross-border payments have faced four key challenges – high costs, low speed, limited access, and insufficient transparency.
Faster, cheaper, more transparent and inclusive cross-border payments would bring widespread benefits for supporting economic growth, international trade, development and financial inclusion.
The most awkward and straightforward question in the Ripple XRP community by some investors is about the moon – wishing for escalating prices. Also, brewing is the worry of how the election results will impact the price of XRP. Some of them feel that everything is known and that all will fall in place.
Brad Garlinghouse earlier this month expressed his worry stating, “To make matters worse, some US regulators have already made decisions that actively favor Chinese technologies OVER US companies. Legislation like the DCEA can bring US companies to equal footing.”
Regarding Financial Inclusion, Sydney Ifergan, the crypto expert tweeted: “Ripple (XRP) is not worried about the price to the moon, they are about ensuring practical use case for the world and the unbanked. Many things are worthy and important than just going to moon.”
Ripple (XRP) Mass Reputation
Daniel Vogel, CEO and Co-Founder of Mexico’s leading crypto exchange, Bitso stated, “On-Demand Liquidity is a service that allows fiat currency conversion using crypto technology. In our case, we’re assisting in the conversion of US Dollars to Mexico Pesos where the digital asset XRP is a bridge currency. We’re processing close to 10% of the remittances from the US to Mexico through ODL.”
Several Fintech Companies are willing to facilitate faster cross-border payments and they are willing to adopt the technology that facilitates a more inclusive Financial System. Ripple Technology gaining mass reputation.
