The future of Banking?
Ripple is a company with a vision geared towards implementing crypto currency in the banking sector. The company’s backbone is supported by its own crypto currency, XRP, which has an arguably good reputation in the crypto world and in the world of business. The positive progress of Ripple, with its XRP is seen as various reputable banks around the world have incorporated into their banking systems. XRP has an exceptional transaction time of over 1,500 transactions per second according to www.ripple.com. Comparing this transaction rate to that of traditional crypto currencies and fiat currencies alike, it is clearly obvious that XRP is going to achieve great feats in the near future. This brings up the question of “where will Bitcoin and the other crypto currencies like Ethereum and Litecoin be when this crypto-banking revolution happens?”
The crypto revolution
XRP showed great promise as a crypto asset in its early years. With a current market capital of $21.76B and a daily trade volume of $244.77M, there is no doubt that XRP is here to stay. However, will it eliminate the regular crypto currencies? Well, in my opinion, I believe XRP will ground its feet in the world of finance as many financial institutions like MoneyGram, Santander and TransferGo has signed contracts with XRP’s parent company, Ripple, to leverage the network's capabilities to help speed up banking processes and transactions and expand the current capacity of the banking sector. Deals like this, will definitely increase the value of XRP as it will be utilized in all the activities that Ripple and its customers will undertake. This value could overcome the Bitcoin benchmark if it makes steady and stable progress over the course of the years. This could be in the very near future, in the very far future or may never happen. We may never know. XRP still shows great promise and will certainly revolutionize the way we perceive crypto currency.
XRP is available for purchase and anyone that is willing to invest in it can do so, since it is in its youthful stage and promises great value. I’d still urge you to do your research well before venturing into investing in any crypto currency.
The future holds great promise and we can only expect the best yet to come. Happy investing, folks!