Ripple Discusses Future Plans For Company Development

According to a recent Ask Me Anything thread, Head VP of Products Asheehs Birla spoke of Ripple’s XRP platform, meant to facilitate live payments to constantly supply liquidity and accelerate international transactions. xRapid was the topic of discussion, with the VP mentioning how Western Union, another exchange, had stated that the platform’s services were still considerably expensive.

The Future

After Western Unions statement regarding the pricey cost of using xRapid, Ripple spoke of how the company’s purpose has been affected following the statement. Speaking about WU, Birla explained that the company has been operating for a much longer time than many other service providers in the industry. 

For Western Union to utilize xRapid, it needs to allocate all their volume to the platform due to their efficient liquidity and embedded prices. Further adding, she said that xRapid is now focused on acquiring payment providers given their robust rise in importance. She explained that the company believes payment providers are the direction to follow and production is set to occur the moment it's ready. 

Despite no official announcement for xRapid, the VP also said the company expects to release it during 2018. David Schwartz, the CTO of Ripple, stated that RippleNet, the bank, and payment provider complex operating on its blockchain to oversee payments has been rising and introducing more businesses to the new platform is an essential part of Ripple’s plan.

More Developments

According to Schwartz, increasing RippleNet’s volume is a must. The company must boost its rate of transaction traffic to its designated level. Ripple’s stream of transactions as possible XRP connections is vital. He also adds that with the platform facilitating payments through its native token, forming more collaborations and achieving the wanted level of transactions is absolutely necessary.

As of now, 60 percent of total XRP belongs to the Ripple. David also spoke about the level of advancement behind blockchain technology and how its developed since he began working for the company and its incredible nature. 

According to him, a major aspect of crypto is the massive increase in the number of available currencies. He said that Bitcoin was thought to become the only currency and any services or purchases would be made through Bitcoin.

Others believed Bitcoin would change how financial industries and monetary services acted by fusing all currencies into one although as of now, that notion is completely reversed due to almost an unprecedented number of different tokens in the thousands. Going on, he mentioned alternative applications of the crypto-environment and how previous operations and tasks were made easier through crypto.

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