Home Cryptocurrency CEO of Ripple introduces technology to transfer billions of dollars

CEO of Ripple introduces technology to transfer billions of dollars

Ripple and XRP has been doing well this year, presently, Ripple is in partnership with over 20 firms and the number keep rising every week. One of the firms they partnered with is RationalFX with the goal of making money transfer easier. RationalFX has said they partnered with Ripple so as to make money transfer in billions faster. The company said their partnership is to remove all the bottlenecks associated with money transfer.

xVIa is the name of the test platform they used to experiment this feature of money transfers from and to emerging markets. The one version they later settled for is called xCurrent.

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The CEO of Ripple, Brad Garlinghouse, said the existing payment systems are slow and need immediate upgrades. He also pointed out that transferring funds from one country to another takes time. That even if the systems are upgraded, it’ll still take days to get money transferred. Blockchain technology however has the power to change this situation, this was the submission of Garlinghouse.

Garlinghouse believes that even as internet is interoperable across several networks and operators, that online payment too should be, and Blockchain is the only solution that meets this criteria.

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