A week ago, Ripple labs director of regulatory relations was elected to represent 90 corporations at the Federal Reserve’s faster payments task force steering committee. The task force was formed this year to spearhead the upgrade of payment systems that have remained unchanged since the 1970s.
This is good for ripple (XRP) because it means ripple is well represented as a frontrunner for adoption by the U.S federal reserve, as a tool for making global payments faster. Up to this point, the primary technology that has been in use for this purpose is SWIFT. This technology is no longer efficient when compared to newer technologies like ripple (XRP), and with Zagone as a member of this task force, the FED will most likely back ripple (XRP) as a replacement. That’s because it is faster, cheaper, and most importantly, ripple labs is American, an important factor for the Federal Reserve.
But that’s not the only place where Ryan Zagone is representing ripple (XRP), and giving it leverage for mass adoption. He is also representing ripple at the better than cash alliance. Zagone is on the research advisory board of this organization that is based at the United Nations. The goal of this organization is to enhance financial inclusion at a global level. What’s interesting about this organization is its membership and partnerships. The better than cash alliance membership includes more than 25 countries in the developing world, and over 20 world organizations including the World Bank, the Bill and Melinda Gates foundation among others. It is also backed by the U.N and the G20.
This means that ripple (XRP) has leverage on a platform that could see it get adopted by every developing nation all across the world. That’s because the primary problem of most developing countries, one that holds them back, is the lack of financial inclusion. Ripple (XRP) can offer them this because it is very cost-effective, and can be used to tailor solutions for the problems that many developing nations face. Through Ryan, and the influence of the G20, and the World Bank, most of these nations will adopt ripple (XRP) as the primary tool for expanding the financial space amongst their people.
When you put together the influence that ripple (XRP) is gaining both in the U.S through the Federal Reserve, and the rest of the world through the better than cash initiative, it isn’t hard to see why ripple (XRP) is about to take over the global finance industry.
This makes it highly undervalued at its current price of under $0.50. Once banks start using it with the help of their respective governments, ripple (XRP) will skyrocket in value. It could easily become a global currency, and replace all other currencies in use today, including the USD. What ripple has going on is clearly unprecedented in crypto circles. It is likely to emerge as the number one crypto, and break away from the umbrella of bitcoin in a few years.