Why Ripple (XRP) might be the future of digital payments

[TheCryptocurrencyPortal]

Why Ripple (XRP) might be the future of digital payments

Check out the discussion here: https://www.youtube.com/watch?v=FmiBm2LQlyk

Ripple, the world’s fast-growing crypto payment powerhouse, works with bank regulators and policymakers in several governments for the adoption of digital payments.

CryptoWhale, a crypto analytic firm, in a series of tweets, recently spoke on the odds of giving XRP the edge, as it works with government regulators on compliance.

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[livingfree]

It won't be the future of payments, it'll be just like any other altcoins and cryptocurrencies that we have.

The future for digital payments if it's not bitcoin because it will be treated as a store of value, there will be those coins that are being endorsed by the government to the public which is likely to be the CBDCs.

[Twinkledoe]

I have nothing against with XRP as with my experience they are really fast and you will incur a very small fee per your transaction. However, since it is centralized coin, it really depends on the XRP team how they will manage this coin. I just hope that we will not read someday that one of the XRP members exited and sold his share.

[semobo]

Why Ripple (XRP) might be the future of digital payments

Check out the discussion here: https://www.youtube.com/watch?v=FmiBm2LQlyk

Ripple, the world’s fast-growing crypto payment powerhouse, works with bank regulators and policymakers in several governments for the adoption of digital payments.

CryptoWhale, a crypto analytic firm, in a series of tweets, recently spoke on the odds of giving XRP the edge, as it works with government regulators on compliance.

Cryptos are created with the intention of removing the middle man between people which literally means the banks so how XRP can become the future.Possibly CBDC can become a future not the XRP because governments are already creating their own digital crypto tokens so there won't be a need for privately owned crypto.

[Iyeman]

I may see some banks who have been working together with ripple but i didn't even see the policy makers who have been adoting ripple. If there will be a proof for that and it will be much better.

There are also a payment channel service like ripple and how can we sure if ripple will become the future of digital payments? Even the JED was dumping his coins and he didn't even believe with it.

That doesn't make sense.

[Ryu XBR Samurai]

I am very interested in cyptocurrency projects with centralized pillars that seek government approval.  I follow a few of these projects intensely.  XRP Ripple is the bellwether at the moment in the space.  I actually just had a conversation about bitcoinR / XBR where they have bolted on a centralized team onto Bitcoin for the same reason.  Granted the economic approaches of both are very different.  The pursuit of seeking government legitimacy is the same strategy in both projects.  There are many in the crypto community who will automatically scorn the idea of bringing in government in any way.  They say that the blockchain effectively eliminated the need for government to provide validity of transactions.  However. there are certainly good things about having KYC compliance.  Bad things can be and are stopped through it.  This is something very much worthy of debate.

By pursing this path (Centralized Arm and Government Cooperation) you the investor now must rely on a centralized group and also hope that this centralized group has the funds/skills to stay around and navigate a very difficult legal environment.  This central arm has made itself open to attacks from legal systems.  The reward for this extra risk and cost is an elusive stamp of officialness from a government.  That right now is like a unicorn.  I think the major problem with this is that private cyptocurrencies are seen by federal reserves/ bank as competitors.  Why would those same institutions legitimize their own competition.  If anything they will take the technology and build their own.  That said there have been movements in the government to open themselves up more, particularly in Wyoming in the States.

After watching these projects for a longtime here is my break down of their advantages / disadvantages to their non regulated decentralized peers.

Benefits of Centralized Arm seeking Government Legitimacy:

• Have a moral high ground- Those who don't want to be seen dealing with certain seedy aspects of the world can maintain their reputation and use this currency.
• Currency is still code and has the benefits of that code - in XRP's case lightning fast transactions, in bitcoinR's case stable monetary supply.
• Less likely to be a scam as the centralized group is publicly known
• Potentially opens new opportunities of working with major institutions and government agencies
• Technology is still technically immortal, even if the Central Arm is not.
• The projects may have an easier time getting onto mainstreet if they can survive and meet the government hurdles

Cons of Centralized Arm seeking Government Legitimacy:

• There are many in the crypto community that will automatically scorn them for seeking government legitimacy.
• Centralized arm could be corrupt or ineffective
• Centralized arm can be attacked legally
• Added liabilities from the compliance of the transactions
• Centralized arm can go bankrupt
• Added hurdles from dealing with legal aspects for Developers, Investors and Users

Just my thoughts and observations.

[makishart]

There's no point for the ripple to be the future of payment. This has been a very long time since the announcement of ripple by big institutional but i didn't see any good progress at all. Mastercard has come with its stable coin and CBDC will also be launched soon.
There are so many new chains that have already offered the better scalability than ripple too. How can we think ripple become a strong candidate for the future of payment while the new projects look so impressive?

[Hallmader]

Ripple will remain to be a private company so I have serious doubts that it will be the future of digital payments. It may be fully regulated with the governments where it is being used, but it cannot replace fiat which is issued by the governments themselves. It will remain to be a nice payment alternative though with its cheap fees and faster transactions. But those who are after decentralized payments will probably avoid Ripple and stick to Bitcoin.

[Ryu XBR Samurai]

Ripple will remain to be a private company so I have serious doubts that it will be the future of digital payments. It may be fully regulated with the governments where it is being used, but it cannot replace fiat which is issued by the governments themselves. It will remain to be a nice payment alternative though with its cheap fees and faster transactions. But those who are after decentralized payments will probably avoid Ripple and stick to Bitcoin.

I agree, every time I am asked for a payment its a stable coin of some sort I am being asked for.  Though as I mentioned ripple is not the only crypto out there with a centralized pillar.  There are others like bitcoinR mentioned above.

[ReiMomo]

It won't be the future of payments, it'll be just like any other altcoins and cryptocurrencies that we have.

The future for digital payments if it's not bitcoin because it will be treated as a store of value, there will be those coins that are being endorsed by the government to the public which is likely to be the CBDCs.

I also think that XRP will not the future digital payment system rather it will remain just like now. I think only Bitcoin can be the method of future digital payment but depends on the acceptance of most part of world. Every got should come forward to the positive aspects of Bitcoin, then it will be possible to consider only Bitcoin as the future payments.

It could be yes or it also could be no, bitcoin I guess will not be able to use as a payment method because of the ridiculous fee as of now and the speed of transactions are quite low compared to XRP. I guess, bitcoin is a store value as like a gold digital asset were you can store for the long time.

XRP is different, fastest and safest rate of fee but I will not trust this for storing value of fiat currency. XRP is means of payment and bitcoin is meant for storing value. I'm extremely in favor of XRP as a good payment aside from bitcoin, but storing value, bitcoin is always the best.

[avikz]

Why Ripple (XRP) might be the future of digital payments

Check out the discussion here: https://www.youtube.com/watch?v=FmiBm2LQlyk

Ripple, the world’s fast-growing crypto payment powerhouse, works with bank regulators and policymakers in several governments for the adoption of digital payments.

CryptoWhale, a crypto analytic firm, in a series of tweets, recently spoke on the odds of giving XRP the edge, as it works with government regulators on compliance.

Ripple has a very prominent chance of becoming the future of the digital payment system. If you go to Ripple's website and look at their customers section, you will be surprised to see the number of banks they are partnered with.

They have a brighter chance among the peers. But Ripple is not entirely a cryptocurrency by nature. They are more like a centralized company which issues their own money. Can't really comparable with true cryptocurrencies!

[Ryu XBR Samurai]

Why Ripple (XRP) might be the future of digital payments

Check out the discussion here: https://www.youtube.com/watch?v=FmiBm2LQlyk

Ripple, the world’s fast-growing crypto payment powerhouse, works with bank regulators and policymakers in several governments for the adoption of digital payments.

CryptoWhale, a crypto analytic firm, in a series of tweets, recently spoke on the odds of giving XRP the edge, as it works with government regulators on compliance.

Ripple has a very prominent chance of becoming the future of the digital payment system. If you go to Ripple's website and look at their customers section, you will be surprised to see the number of banks they are partnered with.

They have a brighter chance among the peers. But Ripple is not entirely a cryptocurrency by nature. They are more like a centralized company which issues their own money. Can't really comparable with true cryptocurrencies!

The XRP customer list has always been impressive.  That and their technology are what they have leveraged to become the biggest name in the centralized space. 
Still, I question how far they can go down the government legitimatizing route before they hit the brick wall.  Where governments ultimately view it as supporting a competitor.  The longer it takes the more the technology becomes stale and also the easier to replace with something newer by any bank/government entity.  I support XRP but that risk is real.

[bitgolden]

Isn't that the whole idea? Ripple is literally working with the enemy to bring them to a new level whereas we are talking about making the world a better place for people with removing the banks along the way. Ripple is working with banks to make their transactions faster and cheaper compared to how they are doing it now (which is not really true) and why would any crypto person supports a crypto that helps out the enemy?

I rather see ripple become less than 1 cent, I rather see it 0.0000000001 before I would see it go up, they are just what is wrong with the crypto world right now and I would not like to be part of it. Never owned a single ripple in my life and I am not planning on owning ever neither, if I somehow get it one day (which I can’t, don't have a wallet) I would sell it right away.

[Bitstar_coin]

Maybe to you @op but not for many crypto lovers who don't like a highly centralized project, crypto is more about decentralization, having the freedom and control over your assets and no more of the previous ways, and don't forget there are several options of digital payment out there, so don't bet on it.

[Ozero]

Ripple will remain to be a private company so I have serious doubts that it will be the future of digital payments. It may be fully regulated with the governments where it is being used, but it cannot replace fiat which is issued by the governments themselves. It will remain to be a nice payment alternative though with its cheap fees and faster transactions. But those who are after decentralized payments will probably avoid Ripple and stick to Bitcoin.

For this reason, the ripple network can be the future of digital payments only within the banking system and in individual states, where, for various reasons, they will not use their national digitized currencies. In the near future, states will create and use their own stablecoins, and not rely on someone else's payment system. Moreover, the private financial payment system, which is the ripple network.

[Sy]

Price-wise: Just my opinion but, as long as the previous owner has his coins which he got when he left the company, XRP will continue to crash after every pump. He has a lot of coins, and because of that, the community is a bit scared that he can dump his coin at any moment.

[masterrex]

I believe XRP has done it now because it was used as a cross-border payment solution already, in fact, it was used in my country for remittance transactions because it was faster and cheaper fees compared to others. But due to its centralized nature, I think thats one of the reasons why many investors are wary about its price stability, thats why I believe XRP will never become the future of digital payments. because the future of Digital Payments would be the CBDC's. After all, they have the government backing so it means legitimacy and compliance thats what I think. 

[rhomelmabini]

Price-wise: Just my opinion but, as long as the previous owner has his coins which he got when he left the company, XRP will continue to crash after every pump. He has a lot of coins, and because of that, the community is a bit scared that he can dump his coin at any moment.

For those who don't know about it, here's an article explaining the details https://www.cointelegraph.com/news/ripple-co-founder-jed-mccaleb-sold-a-billion-xrp-and-has-47b-left/. Just imagine he has that 4.7 and year by year the guy is selling those stashes.

It may be the future of digital payment not because it is fast and has small fee on every transaction but because big banks are into them, who knows it will not be for long until we get another FOMO.

[Shallow]

"Our coin will be the future of the crypto space" or "our blockchain will be the future of the crypto space" etc, isn't this the lines or the statements most developers use constantly but yet failed to achieve what they set out to do. Although XRP is kind of different because it has been existing for a long time now while having many partnership which is of course a good sign, but thinking that it will be the future of digital payments is far too much because there are other altcoins still on the same course with it. But I would say, let the developers continue implementing whatever they are doing as time goes on we will know the winner. In addition, I think one of the factors that will kind of draw people's attention out from XRP is the centralized nature of it, but yet, time will tell.

[poodle63]

Price-wise: Just my opinion but, as long as the previous owner has his coins which he got when he left the company, XRP will continue to crash after every pump. He has a lot of coins, and because of that, the community is a bit scared that he can dump his coin at any moment.

For those who don't know about it, here's an article explaining the details https://www.cointelegraph.com/news/ripple-co-founder-jed-mccaleb-sold-a-billion-xrp-and-has-47b-left/. Just imagine he has that 4.7 and year by year the guy is selling those stashes.

It may be the future of digital payment not because it is fast and has small fee on every transaction but because big banks are into them, who knows it will not be for long until we get another FOMO.

THAT exactly what I'm thinking this pseudo-decentralized coin is all about making the dev rich LOL. But, in my opinion even if they partner with big banks it's not gonna make this coin as the future of digital payment easily. There are too many factors need to be taken into account and the big banks prefer to create their own digital payment anyway. The big banks also have brain to think that the dev reserved too much xrp to make it their digital payment so I think it's not gonna become what this topic's starter expected.