Ripple update: Nothing to See Here…
Honestly, this is kind of hilarious. Coinbase snubs Ripple/XRP and most of the crypto community is either delighted or down right nasty about the announcement. Some XRP Hodlers are up in arms as well.
Meanwhile… Ripple’s SVP of Products indicated they’ve either captured or are working on capturing at least 50% of India’s financial/remittance markets.
A nation of 1.3 billion people.
India is striving to digitize their currency 100%. They’ve literally burned some of their paper fiat to hasten the transformation. The vision is for everyone to have a smart phone which can allow for complete digitalization. Ripple, in their ‘delusional’ wisdom, has approached the telecom companies so that RippleNet is akin to being standard on these smartphones.
India, who has been downright hostile to reluctantly tolerant of crypto currency in general, has not impeded Ripple’s efforts to bring half of the country’s banking and day-to-day commerce to RippleNet. This is happening. To some degree this will be successful, perhaps entirely.
Hardly a word about this in the other subs. It’s mostly CB excitement and hype and XRP slander.
It’s analogous to kids celebrating their neighborhood stickball victory while Ripple packs their bags for Spring Training.
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.
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