Hi PentagonPinnacle,
you may be right about Ripple [XRP] being the choice for Banks. With Blockchain being introduced to the Clearnet the people who starts messing with the technology will have an understanding of how to process the payments and how to secure their "Money" before someone else does.
The Ripple [XRP] staff members already know that the price will most likely go up because the developers of other coins aren't around for updates. It really is that simple.
I am not sure why you posted that Amazon online sales article. There isn't any mention of Blockchain or Ripple in it.
Please lmk, thanks.
Hi Winner,
In the article its clear the bank is not analyzing or researching how to implement blockchain. They have actually adopted the Ripple transaction system for a bank which accounts for the fourth top remittance-sending country in the world, for more than $19 billion.
Now this will certainly have an impact on ripple coins without a doubt. In my opinion in 5-10 years Ripple value will be over a penny at the very least and that is only if this particular bank alone continues to use the system.
And, as other banks implement it will only confirm a future increase in value. This is a coin institutions have long been fond of along with huge corporate players like Google and Apple. And to date 100 million+ has been invested in the development so it meets the needs of the particular institutions it is trying to win over.
So, is there a possibility in 2017 we may see the price increase based on future projections yes I think so absolutely.
Brad Garlinghouse himself says:
“Banks and their customers have been hearing about the promise of blockchain technology to enable real-time cross-border payments,” said Brad Garlinghouse, CEO of Ripple. “Now, some of the most innovative and successful banks like NBAD are making this a reality by offering Ripple-enabled payments to their entire customer base and, in doing so, paving the way to make 2017 the year we see broad commercialization of blockchain take hold globally.”
Here is a copy of the whole article I had linked to not sure why it appeared as Amazon maybe because it was on the same page:
The National Bank of Abu Dhabi (NBAD) announced that it has become the first bank in the Middle East and North Africa to introduce real-time, cross-border payments on blockchain, thanks to its partnership with Ripple, a U.S. company specializing in blockchain.
The NBAD now joins a growing list of banks around the world that have adopted the technology, including Santander, Standard Chartered and Unicredit. According to Reuters, Standard Chartered is also an investor in Ripple.
Ripple offers banks the ability to coordinate real-time payments across multiple ledgers to minimize risk as well as delays by using blockchain, which works as an electronic transaction–processing and recordkeeping system that allows all parties involved to track information through a secure network.
Ripple received $55 million in funding last year and has been steadily signing new clients across the globe ever since. Finextra reports that the United Arab Emirates is ranked as the fourth top remittance-sending country in the world, accounting for more than $19 billion.
“Banks and their customers have been hearing about the promise of blockchain technology to enable real-time cross-border payments,” said Brad Garlinghouse, CEO of Ripple. “Now, some of the most innovative and successful banks like NBAD are making this a reality by offering Ripple-enabled payments to their entire customer base and, in doing so, paving the way to make 2017 the year we see broad commercialization of blockchain take hold globally.”
At the NBAD, Ripple’s technology sits within the bank’s existing infrastructure, giving customers certainty of results and fewer delays with transactions, as well as minimizing the cost of cross-border transactions. According to Ripple, an estimated $1.7 trillion is spent on cross-border transaction fees each year.
“We’re always exploring new ways to enhance our customers’ experience,” said Vineet Varma, managing director and head of global transaction banking at NBAD. “With blockchain, we hope that we could address the needs of our customers and drive forward more efficient and flexible service.”
