Bear markets take a toll on companies. However, over the course of the current crypto negative price action, multiple businesses have risen to the occasion by building and further strengthening their protocols. One such company is Ripple. The company’s CTO and its Director of Business Operations provide insights on blockchain, XRP and the Ripple company.
A few insights from Ripple brass
CTO David Schwartz talks about future potential for blockchain
Using blockchain in the area of payment and store of value is the most relevant application for the technology at the moment, according to a Quora response from Ripple CTO David Schwartz on April 1, 2019. The technology officer also mentioned a few other applications, such as lending, which still involve payment functionality at some level.
Branching out from transactions, speaking on blockchain utilization as a whole, Schwartz referenced the technology’s potential usage in tracking products.
Schwartz also talked about blockchain security: “Ultimately, the advantages a blockchain brings center primarily around security and reliability,” he said. “Blockchains don’t have to worry about ‘bad data’ getting into the system at a weak link because all data can be verified by all participants,” he added later.
Nonetheless, speculation can be difficult as the future is an unpredictable animal. The Future might be entirely different from what people estimate right now, Schwartz explained.
It’s very early though and most of our guesses will probably be wrong. If we tried to speculate what the Internet would be used for back in the 90′s, we probably wouldn’t have guessed that streaming videos of cats would be up at the top.
Schwartz on Coil
Regarding use cases for Ripple’s XRP, Schwartz mentioned the token’s micropayment integration with a company named Coil. Essentially, Coil is a way for content creators to receive monetization for their media across multiple websites and platforms, according to a post on the XRP community blog.
“Coil is using XRP and the Interledger protocol to make hundreds of millions of tiny payments to content providers, streaming money at the providers as the providers supply content to Coil’s customers,” Schwartz explained on Quora. “[T]he important thing is that the content providers don’t have to have any formal relationship with Coil,” he included. “They just specify in the content where they want to receive payment and Coil, or any other web monetization provider using ILP, can pay them.”
Ripple looking to grow globally
In an interview posted on Ripple’s Twitter account, Ripple Director of Business Operations Jinal Surti spoke on the company’s worldwide activity. Surti said that Ripple is expanding to set up shops in numerous locations worldwide. The company began in New York, San Francisco, London and Mumbai, and is now extending its operation further, Surti said.
Regarding reasoning, he said,
We are a cross-border payments company. By definition, we have to be global because our customers are global, and so even though we have a global strategy of enabling cross-border payments, the regions behave slightly differently, and we have to be very careful about working within those nuances.
Ripple versus XRP
The XRP asset holds a firm position as CoinMarketCap’s third highest market cap asset. It’s remarkable and worth mentioning that the market cap of Ripple’s coin is more than two and a half times larger that of bitcoin cash (BCH), which sits in the fourth place.
Buying XRP does not represent purchasing shares of Ripple as a company. Ripple’s official website states the XRP coin is independent of the Ripple company. However, the Ripple company statedly owns 60 billion XRP coins. Additionally, Ripple utilizes the XRP asset in its xRapid product.
The above is to be considered opinion and not investment advice in any way, as an unbiased media, no one interferes with the Editorial content of CryptoInsider.com, writers have freedom to choose their own direction, members of Crypto Insider do not participate in trades based on content.
Like what we wrote? Donate to us today so we may continue to write!