Brad Garlinghouse, CEO of Ripple, has insisted of which cryptocurrencies are solving real-world business banking and remittance problems and this future generations of what this individual calls “digital assets” will continue to boost the ability to make installments, especially cross-border.
Speaking to Bloomberg Japan ahead of his contribution in the Millennium 2020 seminar in Singapore, Garlinghouse stressed which comparing Ripple to be able to Bitcoin was “a compliment” but this his company is going the utility forwards.
“Some may look back from Bitcoin and say that this is the Napster of digital investments,” he said. “What I mean by that is that Napster seemed to be the first to digitise music and demonstrate that you can do a lot of cool things to be able. But ultimately, they were circumventing trademark laws, they were circumventing royalty payments then government stepped inside and Napster wasn’t productive. But Spotify, iTunes and also Pandora were prosperous.
“I think what you will find is that maybe the next-gen of digital resources will end up solving several of the problems that Bitcoin set out to resolve.”
He also underlined why Ripple’s package of solutions such as XCurrent and XVia are already transforming the way banks and payment providers manage.
“If you were going to mail $10,000 to Florida today [from Singapore], the fastest means for us to do it is always to drive to the airport and fly the idea there,” he stated.
“That’s crazy to think about the idea in the age of the net. When we think about the buyers that have come on plank, it’s because we’re resolving that real predicament. We’re changing the character of a payment taking days to settle that will California to minutes.”
He also added which the company is signing up greater bank a week to its payment corridors. “We’re still just getting started, however we’re on mile one in a demonstration but we’ve entered that starting brand. This is real activity.”