Ripple’s products and native token XRP has gained more acceptance and salability after the CEO, Brad Garlinghouse, dazzled the central and commercial bankers at the recent Swiss National Bank conference.
He updated the attendees on his company’s role in solving the international settlement problems and the usefulness of the blockchain technology in payment processing.
What Impact Has Ripple Native Token XRP Made on Payment Processing?
According to the CEO, the purpose of creating XRP was to correct the lapses of BTC source code and the inefficiency surrounding the SWIFT system. Ripple platform offers the banking system better efficiency through blockchain decentralized applications.
Its focus is on the commercial banks and how to improve the transaction turnaround time. Ripple tools enable banks to process transactions within seconds.
It main to establish interoperability on a global scale to solve the cross-border payment related issues.
How Ripple Performance Has Improved Since the Swiss Conference
Ripple XRP holders who were expressing fear over the poor performance of the token are now filled with joy. Though Ripple has been working behind the curtain to promote cryptocurrency to the mainstream, its impact became known after the Swiss International Bank Conference.
Ripple CEO has won the heart of both central and commercial bankers who attended the conference. His performance created a boost on XRP acceptance, which became the best performing digital asset after Bitcoin.
After the lecture at the SWISS conference by Ripple CEO, many banks now understood how Ripple will help to solve their international payment problems.
More banks are now negotiating with Ripple to adopt its decentralized financial tools, which are more cost effective than what is already in place.
This move will have multiple impacts in boosting XRP performance because Ripple has recently integrated XRP with its decentralized tools.