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Ripple CTO: XRP Is Perfect for Giants Like Amazon and Uber

  • Yuri Molchan
    📰 News

    Ripple’s CTO is positive that such crypto assets as XRP could be useful for global giants, such as Amazon or Uber


Ripple CTO: XRP Is Perfect for Giants Like Amazon and Uber
Contents

During the WeAreDevelopers event that has recently taken place in Germany, Ripple’s chief technological officer David Schwartz gave a speech, saying that it is not only retail investors that can benefit from using virtual coins, but also major global companies, such as AirBnb and online trading giant Amazon.

Pay out salaries avoiding bank delays

David Schwartz mentioned that the largest companies doing business internationally could use crypto assets, such as XRP, to raise the speed and lower costs of salary payouts to their international staffers.

He also said that XRP would allow them transfer funds without being dependent on banks, long time they take to do transactions and delays they often experience over the old school technology they use.

He particularly named such heavyweights as Amazon, Uber and Airbnb when talking about XRP and the benefits it gives to remittance makers or simply for making ordinary payments.

If you’re a Seagate or an Amazon or an Airbnb or an Uber, these companies all make large numbers of small payments. Amazon has thousands of merchants that they make payments to. Uber, if you’re in the Philippines and you’re a driver and you need money for milk, Uber would love you to drive for them and buy milk right that day.

But they need efficient payments. They need payments that are as reliable as email for that to happen. And that doesn’t exist. And each of these companies employs literally hundreds of people just in their payments division. And if you imagine if you ran a payment company, you would love to go to any of these new corporates and say, ‘Hey! Fire your hundreds of payment people. We’ll do all your payments.’ But there’s nobody who can do that.

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XRP is perfect for that goal

The Ripple CTO stated that XRP has a perfect reputation in the remittance area already and is a perfect choice for being exploited by global business game changers, since it offers higher speed and cheaper rates than banks.

Presently, Schwartz said, Ripple has over 200 institutional customers (the company only works with financial institutions and targets changing the banking sphere and the industry of remittance payments around the world).

Cover image via cryptocomes.com
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About the author

Yuri entered the crypto sphere at the BTC price peak in 2017, quickly turning into a crypto enthusiast. He has written for several media, covering everything from TA to ICOs and crypto regulations. Presently is a news writer, working with crypto and blockchain-related topics.

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