Ripple talked about a new understanding of the use of XRP, showing her strategy for the future. Ripple is actively promoting its views on blockchain and international payments. The opinions of various experts and figures prove that these views not only have the right to life, but also are quite correct. Ripple provides innovations that resonate commercially and are convenient for consumers. This is manifested, among other things, in new statements by Ripple representatives. So, Ripple Managing Director Southeast Asia, the Middle East and North Africa, Navin Gupta, spoke about a new understanding of the use of XRP.
Ripple talks about a new understanding of the use of XRP: Details
Ripple talked about a new understanding of the use of XRP in the person of the company’s managing director for Southeast Asia, the Middle East and North Africa, Navin Gupta. According to the representative of Ripple, soon the countries will begin to issue their own digital currencies. However, according to an employee of Ripple, these digital forms of fiat will be used for internal purposes. As for sending this money abroad, there, according to the managing director of Ripple, the Ripple platform based on XRP with liquidity on demand will come in handy. This will be the perfect solution. Ripple ODL, that is, liquidity on demand, was created in order to enable financial institutions to quickly convert their money to XRP, after which they are sent to the appropriate country and converted again.
The representative of Ripple stressed that one way or another, domestic digital currencies will have to emphasize the sovereignty of the state, and therefore no one will directly bring them to the international level. However, with such internal use, as an Ripple employee noted, in one way or another, the digitized fiat will need some kind of asset bridge to send to other countries. Ripple supports XRP not only because it is suitable for cross-border payments, but primarily because of this role of the bridge. That is, Ripple does not say that it is mandatory to use XRP internally. However, when translating internal digital currencies, you need some kind of buffer, and Ripple XRP is ideally able to act as this buffer.
Ripple XRP is quite effective for this, given that everything is done in real time. Also, the processing speed of operations with Ripple XRP is quite high, and the costs are minimal. This bridge in the form of Ripple XRP will give the reliability that the current, significantly outdated system cannot provide. According to Navin Gupta, the Ripple XRP-based ODL has enormous potential in moving domestic digital currencies across the border without having to have bank accounts around the world to facilitate payments.
The representative of Ripple emphasized that everything will happen in a few seconds and there will be no need for so-called pre-financing or nostro accounts. With Ripple XRP, everything happens in real time, and for such calculations no additional operations are needed. Therefore, Ripple XRP can be called the ideal bridge for the future of finance.