Transforming Finance: Ripple Aims To Become The Blockchain Version Of Amazon
Amidst the global crisis triggered by the novel coronavirus, markets suffered a significant fall during the past two weeks, and the crypto market could not resist either.
The black swan event called the coronavirus pandemic took a toll on the price of Bitcoin as well, but it seems that these days, the most important coin in the market is struggling to recover.
At the moment of writing this article, Bitcoin is trading in the green, just like most important coins out there.
Ripple’s XRP is also trading in the green, and the coin is priced at $0.163751.
Apart from prices of the coins, the projects behind the digital assets are moving forward with all kinds of developments and plans for disrupting the future.
Ripple exec talks about changes in the global financial sector
Ripple executive Asheesh Birla addressed the changes that crypto and the blockchain have on the global financial sector.
He talked with SiriusXM business new host about the predictions for the crypto space.
“I think that this is going to really start taking off in the next two years, and within anything that is done in the financial space today via Citibank or the HSBCs and the JP Morgans of the world, it’s going to be reinvented using this technology,” he said.
Birla continued and said: “And there’s going to be a reshuffling of the world order, meaning maybe some of the largest banks today won’t have that kind of role in the future as this world gets reinvented using technology in the blockchain.”
Ripple to become the blockchain version of Amazon
Birla also stated the fact that there’s work to be done by the US government – for instance, regulations have to be established, so that the blockchain-based platforms and services will proliferate across the global finance.
Ripple is reportedly making huge efforts to become the blockchain version of Amazon, according to the reports coming from the online publication the Daily Hodl.
Birla also said: “I think the US will find its way, but it’s taking a long time in terms of the US paving the way with clear regulations for institutions to use digital assets.”
CoinMarketCap is a website that provides cryptocurrency market cap rankings, charts, and more. It was purchased by Binance for $400M in 2020.
Eduard Watson Author
An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.