Cory Johnson, the Chief Market Strategist at Ripple, talked at the Techonomy 2018 conference about the crypto space. He said that Ripple is one of the most advanced companies in the blockchain market. Ripple has been working during the last years in order to develop different products and services for financial institutions and banks.
Ripple, the Most Advanced Company in the Market
During the event, Cory Johnson talked about the blockchain ecosystem and cryptocurrencies. He has also given his thoughts about business working with distributed ledger technology (DLT) and about Bitcoin’s challenges.
Ripple began in order to build the Internet of Value. He says that there was no payment layer for the Internet and that Ripple wanted to build it. If it is possible to send messages and information in a very fast way, why is not possible to do the same with money? This is what Ripple is trying to solve.
He then said that Ripple was one of ‘the most advanced’ companies in all the blockchain market. On the matter, he said to the audience:
“We’ve got around a 100 paying customers, we’ve moved over a billion dollars on the network and we’re opening new corridors. When I joined the company, around 9 months ago, they were doing one deal in 6 weeks. Now it’s 6 days.”
This shows that there is a very bright future for Ripple. The company is working in order to establish an increased level of interoperability between xCurrent and xRapid. These two products are also being embraced by important companies from all over the world.
Furthermore, he commented that the company has also been growing taking into account the number of employees working. Johnson said that in under a year, the company added 150 new employees.
Comparing XRP to Bitcoin (BTC), Johnson said that XRP is a more advanced version of Bitcoin. When Ripple developed XRP, they thought about making a Bitcoin 2.0. For example, they added some privacy on transactions and solved the scalability problem that Bitcoin is currently facing.
“The guys who made XRP, they looked at the white paper that Satoshi wrote about Bitcoin and said ‘this is amazing,’” said Johnson. “This could be reasonable at scale but what would the problems be. There might be problems about needing total openness in every transaction.”
XRP is used and is expected to be massively used by institutions. This is why there are some banks and entities that do not want to show the information of some of their transactions. XRP provides that by giving privacy to those who need without a trade-off with transparency.
Carlos is an international relations’ analyst specializing in cryptocurrencies and blockchain technology. Since 2017, Carlos has written extensively for UseTheBitcoin and other leading cryptocurrency sites; with over 2,000 articles published.