Ripple and the likelihood of a competitor is an issue that has been discussed more than once. Ripple brings innovation to the financial technology market, gradually crowding out the old system. Ripple technologies allow consumers around the world to receive more modern and reliable service. Project messages that may compete with Ripple also appear from time to time. So, experts from Ethereum World News assessed the likelihood of rivalry with Ripple Thai financial startup Lightnet.
Ripple and Competitor Probability: Details
Experts from Ethereum World News have assessed the likelihood of rivalry with Ripple Thai financial startup Lightnet. First of all, experts emphasized that the likelihood of competition between Lightnet and Ripple is minimal. Allegedly a rival Ripple Thai startup was named The Block. According to The Block, Lightnet is supposedly going to fight Ripple, given the approximate coincidence in the proposed markets, as well as the desire to defeat SWIFT. Lightnet caused such a reaction due to the announcement of the financing of the round of series A.
According to Yahoo Finance, this allegedly rival Ripple raised $ 31.2 million in funding from UOB Venture Management, Seven Bank, Uni-President Asset Holdings, HashKey Capital, Hopeshine. Venture Capital, Signum Capital, Du Capital, and Hanwha Investment and Securities. Thanks to these funds, the Thai startup is going to increase its experience in the blockchain, planning to build its network of financial mobility. In general, the work of Lightnet may resemble the work of Ripple. However, as experts from Ethereum World News emphasized, Ripple has an obvious advantage. While the Thai startup is already gaining momentum, Ripple is already quite well promoting its products. Thus, the competition between Lightnet and Ripple due to the apparent delay of the Thai startup.
Ripple technologies are known all over the world, and many important projects have already been created. In particular, it is worth mentioning the application from SCB, the oldest bank in Thailand. The SCB Easy mobile application is powered by Ripple technology to provide instant and low-cost cross-border payments. Also in this vein, the OnePayFX international payment service, created in partnership between Ripple and the Spanish banking giant Santander, is also important. There are other examples, and all of them prove that no new start-ups will be able to compete with Ripple, since the victory will obviously remain with those who managed before.