Ripple update: Big banks not using XRP a real concern?
First Reddit Post…
I picked up some XRP in early March and I’m just having a hard time understanding how XRP can moon if most banks and institutions can use the Ripple protocol without actually using XRP? And even if the do use it, it appears that is only for brief seconds to transfer from one fiat to another. It seems that the its more of a tool than a currency.
What I don’t understand is if, hypothetically speaking, say every central bank or banking conglomerate decides to use XRP for its speed of transactions what does it matter if XRP is worth $1 or $100? It’s simply used as a tool to of transfer for seconds at a time.
Also, “ Mr. Schwartz explained how users of Ripple’s xRapid product are not obligated to by Ripple to use it. That not-existing condition equals to volatility possibly seizing to exist for Ripple at least.”
If they don’t need XRP do you think they’ll really develop their own token to facilitate the transfers?
About Ripple (XRP)
Ripple connects banks, payment providers and digital asset exchanges via RippleNet to provide one frictionless experience to send money globally. Banks and payment providers can use the digital asset XRP to further reduce their costs and access new markets. XRP is the fastest and most scalable digital asset today.
Don’t forget to share the post if you love it !