Ripple is one of those cryptocurrency companies that are revolutionizing the world through their innovative blockchain technologies. Various banks, remittance companies, and financial institutions are adopting its blockchain to process global payments in matter of seconds. The sole objective of the company is to empower everyone to send and receive payments in just 3 to 5 seconds. Ripple’s global payments specialist Cassie Craddock has drawn the attention of the people in Unbound 2018 conference in London by saying that the main strategy of the company is to spread the company’s proprietary technology through banks and payment platforms.
She says that solving global payments is still a problem across the world. She hopes that after 10 years international payments would take place in 3 to 5 seconds through Ripple’s blockchain. She also says that the company has use cases that support the idea to adopt Ripple’s technology to process payments for everyone around the world. The company would adopt the same pattern to spread this technology on global scale. This shows that Ripple’s ultimate vision is the banks and other financial services.
In the Conference people also asked her about the need for banks. She answered that it would be quite wrong to think that payments would be processed without banks. She further clarified that little payments would easily be transferred without the need for banks. But, the need for banks would arise in case of large payments. This means that banks would be the part of massive shifts. People also asked her about the advantages of Ripple’s blockchain over Ethereum blockchain.
She replied that Ripple focuses on particular use cases whereas Ethereum uses on more use cases. Ripple’s main target is the banks and financial companies that are involved in payment processing. Ethereum, on the other hand, plays crucial role in tons of use cases.