Welcome back to another post guys and girls! Today we share some positive new from none other than Ripple’s CTO David Schwartz. He announced recently that interest from existing customers for new functionalities like xRapid are growing.
The CTO stated ‘we make options available that let people take what is best for them. The most important thing to grow is to provide the best possible experience by enabling many options.’ The CTO meant that the two bodies between which the transaction must take place had to decide which third party liquidity provider to utilise without Ripple promoting the exchange or pool they are going to use.
Ripple highlighted this option in a blog titled ‘Liquidity Provisions on Ripple’, that read a third-party liquidity arrangement allows both transacting banks to authorise a third-party institution to provide the FX liquidity for delivery of payments. This third-party institution could be a payment provider that holds accounts with both transacting banks and provides the FX for the transaction. The CTO also informed the community about the increasing popularity of xRapid and growing interest from the same customers for the same.
It is nice to hear some positive news regarding xRapid as most of the positive news relating to Ripple is to do with xCurrent. We know xCurrent is making the current system faster and more efficient and its all about enabling the Internet of Value, and we know xCurrent can utilise XRP as well as other tools within RippleNet.
The transfer of information was relatively slow and rare before the Internet of Data, and in the future the Internet of Value will enable us to send payments and value as easily as information is shared today.
This increase in value being shared globally is going to force systems to evolve and become more efficient. As such they are going to choose the fastest and cheapest route, and we all know it will be a long time before anything can compete with XRP for facilitating these payments.
Hope everyone has an amazing week and are staying happy and positive! Live long and HODL guys!
Written by Dominic Zohreh
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