Before the new development, xCurrent has been used by many financial institutions such as banks and other entities globally that are involved in the use of XRP. They will be able to continue when xRapid is eventually unleashed. This is propelling the price of the coin to skyrocket and also brings about a coin which has a real-life application which is positively visible for all to see.
Contrary to many arguments from other competitors, that their coin is better, quicker, and with higher potential, xRapid is arguably the only cryptocurrency product with real word usage as proven by the massive number of institutions in the world embracing the use of xRapid and XRP.
The Smart Contract Battle
Codious, a smart contract platform was recently revived after some months of inactivity. The contract platform has an existing relationship with several cryptocurrencies like Tron, Cardano, and Ethereum.
Codious empowers these coins to do whatever they desire to do. Stellar also has a smart contract platform. The Bitcoin team has also tried to initiate a smart contract platform which has failed woefully due to its sluggishness. Ethereum and Xios are the two most widely used smart contract platform presently.
However, with Ripple and XRP, people expect Codious to dominate because of Ripple crazy transaction speed. Although no one can say authoritatively when Codious combination with Ripple/XRP will be officially launched and fully developed. When it eventually kicks off, it is expected to be the fastest smart contract platform in the world.
The delay in the launch is as a result of getting the product into perfection. As a multi-billion dollar company, the owners cannot afford to launch a product and silently wish it performs well. They want to have a hundred percent assurance that it will be an outstanding product.
The ridiculously fast transaction speed of Ripple/XRP
The Cobalt makes the XRP. By a wide margin, the coin is the quickest on the market. XRP flawlessly completes 1,500 transactions per second and the report emerging from Ripple website states that it has the potential to make up to 50,000 transactions/second.
The timeframe for the transaction in the Ripple/XRP network is 3-4 seconds compared to Bitcoin that takes a couple of minutes leaving the user skeptical. In comparison, the Ripple/XRP transaction takes less than a second to complete leveraging Cobalt which further propels XRP token into the spotlight when it comes to the cross-border transaction.
The Emergence of Xpring
The Ripple network creates a token called Xpring. The Xpring is a new initiative that will allow Ripple team or other entities associated with Ripple Company to invest in startups. They will be able to employ the digital technology behind XRP to eliminate the customers’ challenges using innovative approaches. Xpring will help businesses to up their products prices and improve its stability.
The Ripple Merger Project
A lot of banks and other financial institutions presently use xCurrent and xRapid. There is an impending merger between xVia, xCurrent, xRapid to create a solution referred to as convergence. The three products are interrelated and independent. There is also going to be a combination of all products from Ripple that will allow other institutions to use XRP as the payment platform and this promises to be massive.
The Future of xRapid from Ripple
When it comes to cryptocurrencies in general, only a few people can authoritatively say what the future holds. However, unlike other coins, xRapid from Ripple has a future solution that will help banks with liquidity during the process of transferring money to the emerging markets which are expected to commence as earlier as 2019. Ripple as a multi-billion dollar company is responsible for any claims they make concerning any of their projects and products.
Ripple Strong Partnership
To honestly know which of the coins is to be trusted; users should take the time to find out how many partners the cryptocurrency companies have. Many other cryptocurrency companies that portray themselves as Ripple top rivals have only 2 -3 partners compared to Ripple who can boast of up to 4-5 top partners who are the financial giants in the world of economy. Ripple Boards of Directors consist of people make the rule, create the law and control the banks over the past three to four years.
The whole list of Ripple Partners: http://rppl.info
• Despite India government disinterest in cryptocurrencies in general, Ripple through strategic approach has gained ground in India economy, and recently they made a cold claim that they have secured a 50% share in India inroad to the global market. Ripple is set to distribute XRP token to over one billion India population, which proofs that Ripple genuinely has a strong tie with the government and the Central banks of India.
• SBI Holding is one of the largest banks in Japan. They have partnered with Ripple team and owned about 10% stake in Ripple. SBI has announced in multiple times that they will be using the xRapid as a new payment platform. This which will significantly enhance the price and the volume of xRapid as billions of dollars will flow toward xRapid.
• One of South Korea largest banks has tested Ripple and hinted at a full integration in 2018. The future of Ripple is promising as these nabks will have kept large volumes of Ripple products in their custody.
• Ripple has been in contact with the Chinese authorities to secure a deal to expand in China by the end of 2018and Chinese regulators and banks have resolved to test Ripple’s settlement solution.
• In Germany, a famous bank called Reise has accepted the use of Ripple in speeding up and making international payment more convenient for people visiting Germany. Also, Ripple is in talks with many banks in Germany to make XPR a means of transaction.
• The Bank of England is also having a trial with Ripple as stated in England parliament.
• The Federal Reserve Task Force responsible for printing money in the United States have also affirmed that Ripple improves speed and transparency of Global Payment.
• The Royal Bank of Canada has endorsed the use of Ripple products particularly xRapid and XRP
• Santander, a leading financial company in the world, has launched the first mobile application for making global payment using xCurrent
• The Ripple team is in partnership with up to 50 international bank networks including that of Thailand
• The Saudi Arabian Monetary Authority has also partnered with Ripple (xCurrent) to test instant cross-border payment using Blockchain using Saudi Arabia’s domestic banks
• The Netherlands central bank has recognized Ripple (XRP) as an excellent platform for real-time infrastructural payment
Based on the facts and data shown so far, it is beyond reasonable doubts that Ripple XRP, xRapid and xCurrent is the future of cryptocurrency. In 2019, the value of XRP would have grown beyond imagination as more and more countries continuously embrace Ripple and other products from the Ripple team.
We really recommend to also look on the dark side of Ripple and then make your opinion about this project: 5 alarming reasons Ripple might not be what you think