Ripple are doing a lot of things in the process of ensuring mass adoption of Digital Assets. It is well known that the fundamental mission of XRP is to make it possible to transfer money as fast as possible, low cost and easy as possible. It is network which is to serve all, not only the big banks.
Marcus Treacher, Head of Customer Success at Ripple tweeted: “Big Tech entering the #digitalasset playing field is just one of the recent developments increasing trust. I spoke to @BEQUANT for @CityAM to discuss what comes next for this fast-paced industry.”
The important use case facilitated by RippleNet is to provide for low value, high volume payments. Remittance is one area where there is lot of friction and that is one reason for why Ripple Net are focusing on remittances.
Remittance is important because getting low value money on time is the life line for several communities. It is important to empower the economy by making possible small volume transactions with maximum speed and affordability.
Sydney Ifergan, the crypto expert tweeted: “Ripple (XRP) are making possible to transfer low value money for less cost. This is something that everyone will appreciate regardless whether they are the superrich or the not so rich.”
In the current economic climate, it is very import to have money move on time to where it has to reach. When it comes to wide adoption of blockchain technology, traditional fiat currencies and banks have earned the trust of their clients and many of them do not bother to look beyond. Despite proven usability, consumers need to be taken through a process of unlearning their past trust and learning the new way of transacting value.
Ripple (XRP) Empowered to Provide Deep Liquidity
While traditional transactions are based on trust, the decentralized system is based on super trust facilitated by the code and technology. The immutability factor is the Ace in the game. It is a good sign that traditional financial institutions are entering the cryptocurrency space. The next generation will not find blockchain technology and crypto as new. They will look at it as a natural way to transact as it will already be well established by then.
Whether as a contactless course of transaction with fast remittance during the covid or otherwise Ripple XRP have already proven their capabilities to their customer base of 300 people. Deep liquidity will forever in demand and Ripple are all empowered to provide for it.