The co-founder and CEO of XAGO Jurgen Kuhnel, a south African based remittance platform has praised Ripple and its native token XRP, citing their uses cases in the remittance world as being impressive.
At the Cryptofest 2019 in South Africa, Kuhnel delivered an awe-inspiring presentation centered on Ripple’s XRP and the bank of the future. Kuhnel said Ripple Inc. built a distinct algorithm branded as consensus algorithm.
He said transaction speed on Ripple is around four seconds, but at the moment, it stayed around 3.8 seconds.
Kunhel emphasized that with Ripple technology one can perform more than 1,000 transactions within a second.
The CEO of the South African based remittance firm said one major thing that makes Ripple interesting is that it has the power to act as a two-party model for peer-to-peer payments.
He spoke about the outstanding performances xCurrent and XRP. He said with Ripple, one does not need to have different currencies in bank accounts to move funds across border.
XAGO is a partner of Ripple. The firm launched on the Ripple Network early 2019 to ease fund transfer process. XAGO makes transferring funds in either cryptocurrency or fiat seamless.
Ripple has partnered with different big firms and acquired stakes in business having the potential of increasing the use cases of XRP.
The firm invested in MoneyGram and recently acquired Algrim, and Iceland based cryptocurrency exchange.
Ripple has reiterated its commitment towards acquiring firms or investing in companies that have the potential of increasing the liquidity of XRP.
