From its birth in 2012 to the multiple lawsuits, Ripple (and XRP) has experienced its fair share of ups and downs. XRP has constantly been plagued by spectacular price crashes and questions about its possible manipulation by Ripple. Thankfully, the crypto industry is no longer defined by stunning high price and speculation, but rather by genuine projects with substance.
Ripple, the San Francisco-based startup best-known for strongly promoting its native cryptocurrency, XRP, and funding its bank-friendly technology with billions of dollars is driven by its vision of finding real-life use cases for XRP. Garlinghouse attributes the success achieved so far to the company’s transparent framework in his recent podcast interview with bitcoin maximalist Anthony Pompliano.
Ripple: A Paragon Of Transparency
Ripple CEO, Brad Garlinghouse, was a guest in a recent episode of Anthony Pompliano’s Off the Chain. According to Garlinghouse, the cryptocurrency ecosystem is riddled with deviousness and Ripple is here to serve as an epitome of transparency and clarity. He also asserted that Ripple’s defense against the hardline stance towards cryptocurrencies taken by the United States government and other countries is transparency.
What makes Ripple stand out from other companies like SWIFT – as Garlinghouse noted- is the fact that RippleNet passes information in a much more reliable way compared to SWIFT, and this appeals a lot to governments and banking institutions.
Garlinghouse then spoke about the possibility of expanding Ripple operations to US-sanctioned countries like Cuba and Iran. Between enforced sanctions under Trump administration and decreased funding from allies, these two countries are in trouble. However, Garlinghouse stated that they are still part and parcel of the global banking infrastructure and as such, Ripple would not mind extending its foothold there.
The Contentious Issue
The question of whether Ripple is responsible for XRP’s laggard performance refuses to go away. Yet, Garlinghouse and other Ripple executives have addressed this nagging issue more times than I can count.
Speaking with Pomp, Garlinghouse asserted that the welfare of XRP is important because Ripple owns at least 55 percent of the XRP in circulation, therefore impeding the growth of XRP would mean impeding the overall growth of Ripple.
He assured the XRP community that Ripple would not contemplate dumping XRP tokens because it does not work for the benefit of the firm and also because it will be considered as the depreciation of value.
Meanwhile, Ripple is continuing with its expansion plans. After scoring a huge partnership deal with one of the largest global money transfers provider MoneyGram, Ripple has continued to join hands with more banks to foster cross-border payments. It currently has more than 200 banks and payments institutions using their RippleNet solution.
Speaking of which…
Ripple recently announced a collaboration with London-based financial software firm, Finastra. Through this collaboration, Ripple’s blockchain-based cross-border solutions will be available for Finastra customers. This means that Finastra users will be able to access over 200 RippleNet users worldwide. RippleNet users will then be able to connect with Finastra’s vast number of banking partners.
XRP fans anticipate that these partnership deals that keep coming will lead to increased use cases of XRP in the future, which could improve the value of the cryptocurrency.