Ripple’s Next 10 Years Look Prime to Become a Major Player Within the Global Payments Market

2018-10-31 18:47

Ripple is Primed to Become a Major Force Within the Global Payments Market in the Next 10 Years

If theories regarding XRP are to be believed, many analysts claim that the digital currency will be one of the most sought after alt-entities in the market by the end of the next decade. While XRP has slipped and declined in value quite substantially since the start of the year, there is no doubt that the future of the digital asset still looks quite bright.

To further elaborate on this point, we can see that since their inception, Ripple’s worldwide payment settlement protocols have been constantly touching their usage peak all through the year. Add to the mix, a host of institutions and international conglomerates that are trying to incorporate digital assets into their payment structures, the future of XRP looks quite bright.

Blockchain Promises Streamlined Cross-Border Transactions

It is a widely accepted fact that with the advent of blockchain technology, facilitating cross border payments has become exponentially easier. This is primarily because blockchain provides a level of transfer speed that is extremely higher than the mechanisms that are conventionally employed by banks and other similar financial institutions.

Additionally, a 2018 report by Ripple has shown that blockchain is no longer considered to be an experimental technology by the masses, instead, its acceptance is only expected to rise more in the coming 3-5 years.

Ripple’s Recent Financial Journey

Since its release back in 2012, Ripple has been offering a host of banking systems with protocols that are designed to facilitate more reliable, efficient and faster transactions across international borders.

For example, recently French firm, Credit Agricole announced that it intends to join hands with Ripple so as to increase the speed of its cross-border credit settlement transactions. While more information regarding the matter is yet to be released, it is being said that Credit Agricole intends on using a blockchain based framework to cover for the monthly salaries of its international employees.

Final Take

Ripple has been at the forefront of leading blockchain innovation for quite some time now. Not only that, many crypto analysts have touted XRP to be one of the most important digital currencies that we have in the market today. With that out there, it now remains to be seen what the future has in store for Ripple.

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