Ripple XRP, as the third-best cryptocurrency in the market, is being often talked about these days, and as stated by Ripple’s chief strategist, it is a thought in general that Ripple along with other currencies represents a bubble that is about to burst. As Cory Johnson, Ripple’s Chief Strategist reunited with Bloomberg’s Adam Johnson, they have had a chance to talk about Ripple and the fact that this currency with its technology is making some astonishing results with cross-border payments being made and processed with XRP and xRapid. Let’s see what else they mentioned regarding XRP and what the turning points of their live conversation were on this occasion.
Talking About Ripple’s Cross-Border Payments
Besides from having a serious talk on all the burning questions that Adam had for Cory Johnson, wanting to “makes it easy” and have him explain Ripple to the audience while simplifying the story about Ripple to be able to fit laymen, Adam and Cory also talked about Ripple XRP as a start-up company.
The XRP Chief Strategist explained that lots of companies that are now operating as corporative giants were once a start-up company, referring to Google, Yahoo and a couple of more companies that he mentioned during this interview.
Ripple isn’t far behind these companies as this start-up is working its way up towards being worth multiple billion dollars, which for now seems to be working for XRP and the team behind this currency.
One of the main questions that the chief strategist was asked was what exactly Ripple is, where Adam, the host, asked his guest to put the explanation in a simple way.
To this question, Corey indeed provided a simplified explanation where the host could come to a conclusion that Ripple XRP is actually a unique combination of messaging system, money transfer system, and portfolio management protocol.
Moreover, Ripple’s chief strategist added that all major companies, like Yahoo, for instance, have hundreds of different bank accounts in hundreds of different countries so they could make their global payments locally in order to avoid the issues present in the current banking systems.
He further added that Ripple’s xRapid is able to solve this problem and provide large companies with a simple way of making fast and cost-effective global payments.
On this occasion, XRP’s CS added that xRapid would be able to respond to any of the worlds’ bank’s needs as Ripple is made to make processing of micro-payments fast and easy where millions of payments can be processed within seconds all at the same time without creating a cluster in the system.
The main objective behind XRP’s chief strategist said that they are planning on making the first biggest global currency that should be easier to use for transactions and trading than dollars. Adam had a comeback there and asked a pretty simple, but revealing question: Why would you think so?
Corey Johnson responded that XRP is planning on becoming a global currency as they are actually making a network instead of a more traditional idea of having a physical asset, representing the fastest way possible for processing global transactions for now. That being said, Ripple would represent the latest technology, specifically in the world of banking systems and finance protocols.
Johnson has added that even packing up money and sending it on a plane to another destination would take less time than sending money via bank to the same destination. That is why Ripple would be a natural choice for banking institutions all over the world according to Johnson, Ripple XRP’s Chief Strategist.
At the end of the interview, Johnson also talked about how many banking institutions, as well as some financial services, are more appreciating the idea of blockchain technology than the vision of having an ICO. While the banks don’t take interest in XRP as a currency that has a value expressed in real fiat value, these institutions seem to be more than interested in the idea of using Ripple’s technology, xRapid, a protocol that would provide their banking system with the opportunity to enable fast and cheap transactions for all their users on the global level.
Ripple and the Market
Ripple XRP seems to be showing the first signs of minor recovery as this currency started to trade in the green. After the latest change in the market, XRP has jumped to 0.19% against the dollar.
However, Ripple is dropping against BTC with the latest decrease of-1.03%, which means that Bitcoin is rising as well.
After the most recent increase in the trading volume during the last 24 hours, Ripple XRP can now be bought at the price of 0.49$ per one unit.