Brad Garlinghouse, the Chief Executive Officer of the leading blockchain firm, Ripple recently responded to IMF Chief Christine Lagarde’s words: Money itself is changing. In his tweet, he wrote that the current global payment system is fractured wherein the digital assets will participate in shaping it anew. He also stated the role of these assets in solving the financial inclusion problems. In his words:
“@Lagarde is absolutely correct: Money itself IS changing. Digital assets not only help to solve the financial inclusion problem, but also the very real issue of a fractured global payments system – it just makes sense that Central Banks would lean in.”
Ripple has not only made strides in the field of commercial adoption of its RippleNet products but has set up academic back up and research centers to explore the use cases of the blockchain technology. Moreover, on more than one occasion, Ripple officials have projected that one of their missions is to solve the problems related to liquidity and bring financial inclusion on a global level.
In fact, the company has collaborated with several reputed universities, such as UC Berkeley as a part of their initiative called University Blockchain Research Initiative [UBRI].
However, according to Chris Larsen, the former CEO and Co-founder of Ripple, although his company is working within the system to eliminate the problems that exist and XRP may be the right tool to solve the liquidity problem, over-regulation can be a huge fallback for the fintech industry’s innovation and progress.
On the social front, Ripple has started its own initiative known as “Ripple for Good”. In a report, the firm informed the community that it has doled out about $80 million in donations in 2018 alone. In September, it contributed another $25 million in addition to the previous total amount.
Patrick O’Brien, an XRP follower and fan on Garlinghouse’s tweet commented:
“I think we all know how this is going to play out #XRP the best digital asset ever created.”
Alex Cobbs, a popular member of the cryptocurrency space also shared his insight, stating:
“Central bank of UAE and Saudi Arabia are working together on a ripple enabled platform”
Another Twitter user called Andrew, a serial entrepreneur and blockchain space enthusiast also wrote:
“Yet you continue to sell to these banks OTC instead of forcing them to buy from the open market!
If it’s a high price of #xrp You want. As your staff keep saying is needed.
Force the banks to buy from the market and stop conning us retail ‘investors’ “
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