Ripple Addresses The Main Reasons For Which 2018 Was “The Year Of Breakthroughs In The Blockchain” – 2019 To Bring Broad Adoption
2018 is about to end, and Ripple looks back at this year in a blog post. They are also looking forward to broader adoption of the blockchain technology in 2019.
Ripple called 2018 the year of breakthrough in blockchain and said that the developments made this year are great despite the fall of the crypto market.
Important achievements in 2018
The San Francisco based company said that the shrinking size of the crypto market is not hinting at a poor 2019.
They believe that the role of regulation has unfolded this year and the governments all over the world have recognized the potential of blockchain and crypto.
Ripple highlighted more the regulatory work that was done in the ASEAN region.
Adoption and mainstream acceptance from Fortune 500 companies and institutional investors that occurred this year were also addressed.
Other achievements are that IBM and Visa have issued blockchain-focused initiatives while the Wall Street big players such as JP Morgan Chase and Goldman Sachs have also started to explain the blockchain industry.
Ripple’s own successful milestones in 2018
RippleNet connects more than 100 financial institutions across six continents and 40 countries. They also provide on-demand liquidity for cross-border payments using XRP.
The company’s XRP-powered product called xRapid offers cheaper and faster cross-border transactions, and its adopters include Catalyst Corporate Federal Credit Union, Cuallix and MercuryFX.
Ripple-based successful applications include Santander’s OnePay FX and CoinOne Transfer’s Cross.
These have been able to bring the power of the blockchain based-remittance services to more locations in the world including Europe, Asia, and Latin America.
Regarding Ripple’s battle with SWIFT, Ripple’s customer BeeTech was able to completely eliminate the SWIFT fees for all its remittance corridors. The fees dropped from $20 to $2.
Ripple’s customer base has been enjoying massive growth, and the company also launched Xpring to build infrastructures and support the development of the blockchain market.
You can find out more about Ripple’s views on 2018 and the year to come here. They are certain that 2019 will bring broad adoption for crypto and the blockchain tech.
Eduard Watson Author
An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.