Ripple's Bright Future

[Kakashi2020]

Ripple was created as an alternative financial payments system with the aim to transform and facilitate cross-border payments, making them 100 per cent safe, almost free and instant.

Back in early Ripple days in 2013, the platform got attention from many financial institutions. Years later it was adopted by more than 100 financial institutions. In 2020 The Ripple blockchain has expanded to more than 300 providers across 40 countries, including Banco Santander (SAN) and American Express (AXP), JP Morgan (JPM) and HSBC Holdings (HSBA).

Among the most recent RippleNet’s supporters are the  HDFC Bank Limited (HDB), India’s largest bank, and the  Bank of America (BAC), the US second-largest bank.

Looking forward into 2021, what are the major drivers that can make you think of Ripple as one of the top 10 cryptocurrencies to invest in?

According to the report by OMFIF (the Official Monetary and Financial Institutions Forum), Ripple, with its distributed ledger technology (DLT), could “position itself as an alternative to SWIFT”, solving five major issues: security, speed, traceability, cost, transparency and risk management.

With growing support from the European Commission, encouraging the transition to digital finance and sharing plans to build a new legal framework enabling the use of DLT technology and crypto assets in the financial sector, Ripple’s perspectives seem brighter than ever before