A video has surfaced on Twitter showing Ripple’s Managing Director Navin Gupta saying ‘it’s do or die’ for the $155 trillion global payments problem they are targetting.
There are a lot of big numbers mentioned recently, they are not hype, nor are they outlandish or untrue they represent a real-world problem Ripple is solving in real-time.
Ripple is not a normal company we are not here to have a small market share or do X do Y & make a little bit of money, we are here to make a dent in the universe. Either we change the remittance universe the way you understand the way value gets transferred across the world between people, between institutions or we will just fade away. It’s zero or one, that’s the reason six years ago we were born with a mission of moving money like information moves today & we are making this possible using the current financial ecosystem. There are two kinds of banks- those with Ripple, and those that will be shortly…
According to reliable XRP community members, the world’s biggest banks are not only interested in what Ripple is doing they are literally queuing at the door.
Of the 300 customers testing RippleNet 50% have not yet been revealed, we feel once they are announced we will get a better picture of just how big this will become.
**MIC CHECK** Streamlined path to a 3 digit XRP https://t.co/LYZaEFRBRD
— The Bearable Bull (@thebearablebull) November 13, 2019
Last month Ripple’s Xpring platform announced a $5 million investment in Vega Protocol which further extends reach to those with passion for the future of finance.
What makes this exciting is what they are targeting explicitly, according to Investopedia the derivatives market is ‘gigantic at $1.2 quadrillion. Read More.
Vega is a protocol for creating and trading derivatives on a fully decentralised network. Fully automated processes and incentives for trading margined financial products allow for markets that are open and decentralised, with pseudonymous participants. Vega has raised more than $5 million in a private seed round led by Pantera Capital and supported by Xpring (Ripple)
What is genius about Xpring and its investments is the scope and scale of the markets these projects are targetting, Ripple really is about to put a dent in the universe.
When a company targets a market it does not mean they will take the entire 1.2 quadrillion, just a small percentage of this value would push XRP to triple figures.
This premise for collateralizing assets to work in an interoperable environment was most appealing as we explore new use cases for XRP and the future of decentralized finance. Vega’s vision to create an open and decentralized network will enable the freedom to trade and make capital markets broadly available. Vega will continue to build their network and explore opportunities to add other assets as collateral, including XRP
Google Uber Amazon?
To finish things off many in the XRP community lost their sh%t when Ripple’s SVP of product Asheesh Birla announced they had visited Amazon, Uber, and Google.
He simply reiterated that these companies have their own payment systems after being let down by SWIFT and that they work very well.
We went out and visited with Uber, Airbnb & Google & the other is in what I realise is for a large part of what they do in the value they provide is payment Uber have 200 people, 200 people all around the world, Amazon for example have 206 different connections to facilitate merchant payouts for their platform. I don’t think that they should be in the payment business I think they should use other technologies instead & focusing on what they’re really good at’
The importance of this is employing hundreds of staff globally to manage the ridiculously outdated payments systems in place today, and Ripple has solved this problem.
Google is invested heavily in Ripple itself, these companies are well aware of the benefits of XRP and RippleNet.
This whole revolution is in its infancy but when it matures these global giants will be RippleNet users in our opinion, if they are not already.
We went out and visited with Uber and Airbnb and Google and the others
— HeartlandBeagle (@HeartlandBeagle) November 13, 2019