Ripple’s aim to provide a seamless, faster and cheaper means of transferring payment across borders, using decentralized tools is a global vision. These tools are not only made for banks and financial institutions but also big companies like Amazon, who may need them for easy messaging and settlement of payments.
Ripple executives kept on emphasizing that companies like Amazon need their financial tools to make payment to customers, faster and easier. This will, in turn, improve the customer’s experience in transacting business and also increase business volume.
During his speech at Unbound Miami last month, Ripple executive, Cory Johnson, frowned at the difficulty in sending money from one country to another. Comparing it to sending information through text messages, files and emojis all over the world, he said it is ‘ridiculous.’
“It is ridiculous that in 2018 we can send a text message with an emoji and get a file to a friend in Rome and send an email to a friend, but the fastest way to get money from here to Mexico City is to put $10,000 in a briefcase and fire it there.”
My Johnson went further to say that big company like Amazon, which has millions of dollars in several accounts to pay customers all over the world; need a system that will enable, faster and easy payment settlement.
Companies all over the world need a global financial system to attain a better standard in business, just like information is today. The Ripple executive suggested that XRP is capable of solving the global payment problems.
Ripple market capitalization is huge, according to coinmarketcap.com, its market capitalization is $18.34 billion dollars, and each XRP coin can be purchased at $0.45609 dollars.
So many financial institutions have come on Ripple platform to move money from one country to another. Some central banks and well-known companies are already on RippleNet.
This would be a great impact on the cryptocurrency market if companies like Amazon could come into partnership with Ripple. This would create a great effect on the global payment system, considering Amazon’s global reach.
Though there is no agreement yet between Amazon and Ripple, the crypto community believes a partnership between the duo would be a good one.