Ripple’s journey and the track that it is on to global finance is continuing with all banks across Europe. They are all living in fear of being disrupted by any new technology that makes its way onto the market. This is especially the case when you look at the new technology chief and all of the other information that has come to light recently. Ripple is on the up recently and this is especially the case when you look at 2018. The new chief of technology is known as David Schwartz and he has plotted out the path for XRP and this is during an AMA chat. This was posted on YouTube and it showed some very interesting insight into the world of Ripple and everything that it has to offer.
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Ripple has a couple of aims for the year ahead. Rather than store value, it wants to be the gears behind the global banking system. It wants to try and use XRP technology to try and build a network of various financial institutions using blockchain technology. If all of this was possible then it could be that Ripple could be the backbone of the global banking system and this is incredible news to say the least. Mr Schwartz has come out to say that during the recent tour of Europe, the team talked to a lot of banks and that a lot of them have the same idea. One thing that he did not appreciate at the time is that they too are being disrupted by new technology. He has also gone on to add that Ripple is going to help the banking industry to reach a brand new level and that it is also giving them chance to try and compete as well. This is especially the case when you look at the competition that is present at the moment in the banking industry alone. Schwartz has also come out to say that Ripple right now is handling the banking side of things and that they are also trying to position XRP as being an asset that can help banks to achieve an intermediary asset that could actually pose as some level of liquidity between other assets as well.
If these efforts are successful then this could be one of the reasons why banks could use it. If it is more liquid and this is especially the case when you look at how cheap it is to transfer. The concern is now that Ripple’s attractiveness to market firms is being looked at as being a brand new source of value. Bitcoin have also recruited another believer who also happens to be a billionaire. They did this in the world of finance and they also revealed that Steven Cohen has gone on to place money into a hedge fund. He also made sure that this had a focus on cryptocurrencies and even those companies that worked in blockchain as well. Cohen Private Ventures have also gone onto invest in Anonymous Partners and this is a new hedge fund that has tried to buy up a huge range of cryptocurrencies. They have also invested in blockchain companies as well as they believe that this is the way that the industry is going at the moment. They are continually looking for the next generation of investments in this day and age and this is incredible to say the least. Ripple however happens to be absent from the spate of technologies and the main reason for this is because Autonomous Partners are interested. This could raise concerns that XRP tokens are going to be treated differently when the overall regulations happen to arrive. If the Securities and Exchange Commission in the US happens to decide that tokens are securities at the end of the day then they will be subject to a ton of different laws. Arianna Simpson who is from the firm has stated that she has a lot of concerns regarding how centralised the network actually is. She also has concerns as to whether or not what they have now is classed as being a security. Ripple’s CEO Brad Garlingtonhouse has dismissed fears stating that the fact that they own XRP, doesn’t give them any level of control.