Ripple can help the European Union by becoming an alternative to Libra Facebook. Ripple is creating innovative technologies that are already showing great performance in early 2020. Various firms integrate Ripple projects to enhance their market competitiveness. Also, many figures note the effectiveness of Ripple pans. So, Crypto News Flash experts said that Ripple could help the European Union.
Ripple can help the European Union: Details
Ripple can help the European Union, according to experts from Crypto News Flash. The reason for the importance of Ripple is that the European Union may need an alternative to Libra Facebook. If the Libra Facebook project is not postponed, then it will be necessary that he will be able to oppose it. This statement was made by the President of the German Federal Bank (Deutsche Bundesbank) Jens Weidmann. According to a representative of the German financial institution, projects such as Libra Facebook should not be created. On the other hand, it is necessary to improve the technology that banks use for their transactions. In this case, as analysts at Crypto News Flash point out, Ripple can help.
Moreover, according to Weidman, the state should only participate to a limited extent in the development of new technologies. Thus, the project must be created by an independent company, and this also corresponds to Ripple. While Jens Weidmann is looking for a solution like a digital euro, without first determining what role it will play in the economy. Interestingly, the president of the European Central Bank, Christina Lagarde, is trying to pick up a certain blockchain project. According to experts of Crypto News Flash, Ripple may well become the golden mean in the aspirations of the heads of the German federal and European central banks. Ripple’s technology is extremely simple as well as minimally costly.
Ripple has more than 300 partners worldwide and has already demonstrated its capabilities in various applications. Ripple partners include large and significant banks, such as Santander. Ripple payment solutions are fast, cost-effective, secure and can move large amounts of money across borders in seconds. This is necessary, in particular, to the President of the German Federal Bank, Jens Weidmann. It is not yet known for sure whether the European Union can really use Ripple as an alternative to Libra Facebook, but this probability itself is significant.