All Indian banks have implemented or are implementing the latest version of the decentralized financial instrument Ripple xCurrent 4.0.
This can significantly increase the use of Ripple XRP. XCurrent 4.0 is known to be integrated with xRapid. Which in turn uses the Ripple XRP.
Given that India is an emerging market with a population of 1.33 billion, it is easy to predict that the Ripple XRP is on its way to mass use. India is also the second largest non-banking country in the world. At the same time, all its banks are integrated into RippleNet. This is a huge plus for Ripple and the prospect of an XRP token.
Benefits of using Ripple xCurrent 4.0
According to last year’s report, about 50% of all markets in India were already integrated into RippleNet. At the moment, it can be assumed that this figure is approaching absolute. In view of the recent events in India, and the full legalization of cryptocurrencies, it can be assumed that the country is preparing to launch its new digital financial system in the near future. And guess which token will increase in price? True, this is Ripple XRP.
XCurrent 4.0 will allow banks and other financial institutions to control transactions from start to finish. It also has a positive effect on liquidity, since liquidity costs will drop sharply.
This is another Ripple step on the Indian front that is pushing the crypto industry to a new playing field.
Coronavirus Covid-19 Digital World Driver
The transition of India to a number will allow you to get away from cash (fiat) money. This will reduce the risks of the recently spread coronavirus Covid-19. Judging by the statement of WHO, cash is one of the factors of infection. A large number of people touch money and transmit the virus to each other. This contributes to the rapid tolerance of harmful bacteria. Digital money does not have this flaw and is completely safe for health.
Thus, the future is in digital currencies and Ripple is the undisputed leader.