Former Ripple Executive Says Banks Need XRP After Global Settlement Platform Suf

[TheCryptocurrencyPortal]

Former Ripple Executive Says Banks Need XRP After Global Settlement Platform Suffers Major Delay

Check out the discussion here: https://www.youtube.com/watch?v=WzejpH3-xjw&t=583s

A recent delay to an international bank-led payment settlement initiative is just more evidence that legacy financial institutions need to adopt XRP, according to a former Ripple executive.

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[batang_bitcoin]

He's from Ripple although he's just a former anymore. But there were already plans from countries who are planning to use the technology of cryptocurrencies such as blockchain for payments.
They were reportedly on developments for another payment system but it's not going to be with XRP/Ripple's technology. But they have their very own source and that means they don't need XRP.

[tippytoes]

He's from Ripple although he's just a former anymore. But there were already plans from countries who are planning to use the technology of cryptocurrencies such as blockchain for payments.
They were reportedly on developments for another payment system but it's not going to be with XRP/Ripple's technology. But they have their very own source and that means they don't need XRP.

Banks may badly need blockchain technology, but yes, it doesn't mean they need the Ripple's technology. However, on the other note, I like ripple as one of the alts with very cheap tx fees and quite fast as well. Merchants or shops can utilise this alt as good alternative for btc. But when it comes to banks, I don't think so. As ripple is a centralized cryptocurrency, the owners of this coin will just amass wealth if the global banks will deploy their technology. It is better to use their own to be independent from this platform.

[btc_angela]

What else do we need to hear from Ripple though? they are design to be a bankers coin so obviously they are pushing their narrative at every angle. Regarding the delay of settlement platform though, it's dangerous if they are going to harness XRP, what I'm thinking is that they are going to take over and banks are going to be relegated on the background. So I don't think that banks are that dumb though, yes they will work with XRP/Ripple but not to the point that they are going to make this banks obsolete.

[Wexnident]

They need the system that is used by Ripple, not ripple itself specifically. If they put their mind to it, development could've been already underway a few years ago, sadly their still doubting the credibility of blockchain or they just don't really want to use the system since it'd cost money to make it, especially since they have problems with the economy right now. I highly doubt they'd just go along with whatever a private company is also saying, so it's either it's gonna be an agreement behind the scenes of selling the tech (if they ever decide to do so), or just plainly making their own version.

[JeffBrad12]

Sometimes i wanna laugh to see any news that comes from the ripple especially from its shillers. We have a lot of options that can be adopted by the banks and why is it always ripple? i know that if this statement came from the former or ripple executive. lol

Rather than thinking about how bank can adopt ripple and that guy never think about how ripple can bring benefit to its holders.

It has been a few years and all of the products created by ripple is targetting the big institutions only.

Ripple is only the solution but i believe any ripple executive will be saying the same thing like this.

[Fundamentals Of]

The word "need" makes everything an exaggeration and an obvious marketing attempt on Ripple's part.

Ripple is just a drop of an option in a whole wide ocean of options for the banks.

Ripple "needs" to be objective and not just consider itself as the one and only technology of its kind.

[batang_bitcoin]

He's from Ripple although he's just a former anymore. But there were already plans from countries who are planning to use the technology of cryptocurrencies such as blockchain for payments.
They were reportedly on developments for another payment system but it's not going to be with XRP/Ripple's technology. But they have their very own source and that means they don't need XRP.

Banks may badly need blockchain technology, but yes, it doesn't mean they need the Ripple's technology. However, on the other note, I like ripple as one of the alts with very cheap tx fees and quite fast as well. Merchants or shops can utilise this alt as good alternative for btc. But when it comes to banks, I don't think so. As ripple is a centralized cryptocurrency, the owners of this coin will just amass wealth if the global banks will deploy their technology. It is better to use their own to be independent from this platform.

Once they have understand what's in the circle of blockchain, they'll adopt it as soon as they see it beneficial for them. There are other projects that offer different solution for the banking sector, it could be them that will be remembered or considered by those banks.
I'm not discouraging but that's the fact. In blockchain development, there's also competition from those developers that are working on it.

[lixer]

There are a ton of banks and so forth that is using and partnering with Ripple because they want to move money around a lot faster and a lot cheaper, Ripple is good for one thing and that is actually making a profit for big companies, the smaller investor doesn't really need to invest into it, if you are reading it you do not need to buy XRP at all, it is not for you, the biggest scam Ripple pulled off was making sure smaller investors like you and me would buy XRP so they could profit, which is a big lie, it was created because they wanted to make sure the big corporations like banks could move money around, but they will be screwed when banks realize they could create their own blockchain and that way they would save money from spending on Ripple with all the fee's.

[Convery]

Banks will never use XRP as a medium for the cross-border payments because it is so volatile and they can´t explain their customers, that we are sorry, but since you receive the transaction, the price of XRP dropped by 20%  . For me, XRP is a totally nonsense, which will never work.