Ripple’s Brad Garlinghouse Addresses Globalization, The Internet Of Value And More – Ripple Is Not Trying To Replace Banks
Ripple is the star of the crypto space these days. Ripple’s Swell 2018 Conference began yesterday with various panel discussions.
Significant names were involved into the interactions during the event, and these include the former American President Bill Clinton, Gene Sperling, the National Economic President to Clinton and Obama, and the officials from Ripple itself, including CEO Brad Garlinghouse.
Ripple was built on Chris Larsen’s vision
CEO Brad Garlinghouse discussed how the company was built on Chris Larsen’s views and said that the primary target was integrating the Internet of Value with the workings of the financial ecosystem.
“The internet of value is something that a lot of people don’t understand, and that is Ripple’s biggest bet. One of our main goals has always been to become builders rather than the ‘disruptors’ that is talked about a lot in Silicon Valley. Being coined a disruptor is somewhat of a catnip to investors, but in Ripple’s opinion we don’t always need disruption in the industry,” Garlinghouse said.
He also made sure to highlight the fact that Ripple does not want to replace banks. It’s simply trying to build a system that has never been seen before.
The products launched by Ripple should allow faster and seamless developments of the blockchain technology and the whole ecosystem.
Garlinghouse focused his discussion on a “three-legged piece” which is needed for globalization.
This includes data aka the Internet, goods that have to be carried on the channel and money. He said that the main persisting problem is money.
Money should move like information, says Garlinghouse
He also added that there was a lot of hype in the blockchain space and the central aspect should be enabling value to move like information while removing friction from global payments.
According to him, solving such issues should increase the money flow of the economy, and the result would be the opening of various avenue to the general population.
The most exciting announcement made by Garlinghouse was without a doubt the launch of xRapid, Ripple’s XRP-powered solution for cross-border payments.
Larsen co-founded Ripple in 2012 and now fulfils the role of Executive Chairman. A long-standing advocate for financial privacy and education, Larsen and the Ripple Foundation gifted $25 million to San Francisco State University in April 2019.
Garlinghouse is both the CEO and Chairman of Ripple Labs. This year, Ripple surpassed 300 partners, including over 115 banks worldwide. Having launched On-Demand Liquidity (ODL) for cross-border payments, Ripple now has more than 20 partners using XRP for ODL, including Moneygram, Western Union, and American Express.
Eduard Watson Author
An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.