Price and value - they're 2 separate things. Sometimes, you can find an item that is well made and is of use to you, that's good value. A similar item may be right next to it, which could be of use to you, it's much cheaper, but it's poorly made - that's not good value.
XRP is a well designed, well thought out made for purpose token. It's designed to do a specific job and do it well. At the moment, it's price is very low - now that's GRRREAT value!
I still think there's a possibility the price may briefly dip below 20c - I really hope so, because I love a bargain.
But, I hear you say, there are other tokens that are faster and can do a similar job, so why is XRP such a great value token?
- Is it fast .YES. is it the fastest? NO. Reducing cross border money transfers from 3 days to 3 seconds is huge! Reducing cross border money transfers from 3 seconds to 1.5 seconds is ho-hum.
- Is there a suite of custom designed software that supports the use of this token? YES.
- Is that software being currently utilised in one of the most conservative industries in the world? YES. Not by a majority, but by many. Many banks and money transfer services are using Ripples software, but only a small number are using their On Demand Liquidity (ODL) product at the moment. But more and more are coming on board.
- Is the management team of Ripple, the company that has developed the software that uses XRP, widely accepted in International Money Circles? YES. Brad Garlinghouse, the CEO of Ripple has just finished addressing World leaders, both in Governemtn and Industry, at the World Economic Forum (WEF) in Davos, Switzerland.
You may be thinking at this slow rate of adoption (only a few of the 300+ customers of Ripple are using ODL) it will take forever. No, it won't and here why..
The flywheel analogy is very apt here. A flywheel is big and heavy and requires a lot of energy to make it move. But once it starts moving, it needs less and less energy to propel it as it gains it's own momentum. Eventually, it flys and then it's very difficult to stop it.
So, who is using ODL utilising XRP? (This is the best list I could find, courtesy of the Daily Hodl + one I added)
- TransPayGo
- JNFX
- MoneyGram
- Viamericas
- TransferGo
- Euro Exim Bank
- SBI Virtual Currencies
- SendFriend
- Remessa
- BTC Markets
- FTCS
- Bitrue
- goLance
- Bittrex
- Bitso
- Interbank
- Coins.ph
- FlashFX
- Nium
- Bitstamp
- Cuallix
- Mercury FX
- Catalyst
- IDT
- Siam Commercial Bank * recently announced
Ripple advertise they have over 300 customers - the list above are the ones that are using ODL - On Demand Liquidity (XRP).
We know that Moneygram is very keen to expand their use of ODL, they are being hamstrung by Regulations (every country has differing legislation) and Ripple "dragging the chain" and to date they are only using 5 of their 22,000 payment corridors!
“He wants us to launch ODL, formerly knowns as Xrapid on more markets, more quickly because they’re having such a good experience with Mexico,”
Brad Garlinghouse, talking about MoneyGram CEO Alex Holmes
SBI is a Japanese conglomerate of 80 odd Banks and Financial Services Companies, they are very pro Ripple/XRP and are making noises about all using ODL soon.
“Surveying the market, Ripple was the only company that has delivered battle-tested enterprise solutions and global bank customer traction, including commercial deals with top banks already signed in Asia Pacific. Distributed financial technology is undoubtedly transforming financial infrastructure and we’re excited to drive its adoption throughout Asia,” Kitao said.
CEO of SBI Group and chairman of SBI Holding, Yoshitaka Kitao
Tokyo-based SBI Holdings has announced that its digital assets exchange, SBI Virtual Currencies, which launched in beta yesterday, will list Ripple (XRP) as the only cryptocurrency supported at launch.
