The case for XRP and why it might make you filthy rich!
Will XRP be used?
So much have been written about RIPPLE and XRP but what we all should ask ourselves is this. Is there a real use case for XRP? And how likely is it that it will be used?
Compared to the old swift banking system XRP is superfast. Sending money through swift system can take between 2 and 5 days. Sending XRP usually takes 3 to 5 seconds! That is a staggering improvement over 100 000 times faster than the old system.
But wait, there is more.
XRP is about 1000 times faster than Bitcoin and way cheaper to send.
So I guess you can say YES there is a use case for XRP.
But will it be adopted? Will banks use it? Is the XRP ledger decentralised?
YES, YES and YES. XRP has been around since 2012 and has never had a minute of downtime. Banks are already using it and more will be used when we have regulatory clarity. It will free up alot of dormant capital in nostro and vostro accounts and the XRP ledger will keep working as usual regardless if the company RIPPLE keeps existing.
The company RIPPLE is currently being sued by SEC regarding security issues and when this case settles and we have regulatory clarity I believe XRP will have a massive use case and revolutionize how we send money and value through internet and the banking system.
Ask yourself this. Why would anyone use the old swift system with a delay up to 5 days before the money arrive if they can use the XRP ledger and send value for a friction of the cost in 3 to 5 seconds?
The question is rather this. How much will XRP disrupt the old system and when will we have regulatory clarity? Position yourself accordingly……
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I’m not a financial advisor. Do your own research and never invest more than you can afford to lose!