In a recent interview, the technology director of the Ripple company was asked about the future of the Ripple Blockchain and the use of the XRP digital currency.
Ripple’s technology director, David Schwart, stated that the company is looking for an internal Ledger in the ripple protocol for cross-accounting payments.
I also declare that the company wants the XRP currency to be decentralized.
The future of Ripple
The blockchain that uses ripple could be used all over the world, and not only by banks, since the platform and ecosystem that the company manages to create serves international payments.
So far the company provides services to more than 150 banks and financial institutions, we must also bear in mind that banks use the ripple platform but not in all cases the digital currency.
Ripple is designed for large intra and inter-bank transactions.
Although the company was the first to use the blockchain to provide a financial service, it is not the only one that today provides this service. And in addition, large companies start with the development and also the patenting of platforms that seek the same or improve the service provided by Ripple.
There are already several banking entities that started with the project of a blockchain capable of equal the service that ripple provides, among some of these companies is a main client of Ripple, American Express.
American Express, its development in blockchain began in 2017, the company seeks to provide the same ripple service, unlike in the beginning this platform would be for international payments, then develop a payment processing based on blockchain technology for common users .
Another one of the companies that is in the race that ripple already started about 5 years ago is the largest investment fund manager in the world, JP Morgan. The group of Morgan is in the development of a platform that equals the services of the banks in everything that is inter-bank transfers.
Why does Ripple have so many companies competing?
The use of blockchain decreases the cost of financial trade. Numerous initiatives focus on the development and application of blockchain to reduce the cost of international transfers and do so quickly and agilely.