<\/p>\n
The first day of the Ripple\u2019s two-day blockchain conference saw some significant updates.<\/p>\n
As predicted<\/a>, the San Francisco event turned out to be the launchpad of Ripple\u2019s cross-border\u00a0payment system, xRapid. CEO Brad Garlinghouse took the stage to announce that xRapid will go live for the first time with three mainstream financial institutions. \u00a0Payment providers Mercury FX and Cuallix,\u00a0as well as financial firm Catalyst Corporate Federal Credit Union will deploy xRapid for commercial use, thereby becoming one of the first companies to use XRP tokens to settle international transactions.<\/p>\n Speculators have been bullish on xRapid ever since Ripple announced it. It is believed that bank adoptions will increase the demand for XRP tokens. It would thus appreciate their value against the US Dollar. Just last month, XRP had swelled by more than 100 percent in just a week owing to the xRapid announcement.<\/p>\n Former US President Bill Clinton had also attended Swell as a key speaker, and he left some noteworthy remarks on blockchain as a whole. Onstage, Clinton joined Gene Sperling, a former White House advisor and Ripple\u2019s board of director, to discuss the need for friendly regulations. The ex-politician compared the emergence of blockchain with that of e-commerce in the late 90s, saying that it would ultimately lead to \u201cdisparity of access.\u201d<\/p>\n \u201cThe more you develop new technologies like blockchain \u2026 AI technologies, robotic technologies \u2026 the more the disparity of access is going to be felt.\u201d<\/p><\/blockquote>\n Clinton also acknowledged\u00a0that blockchain assets can be abused in the hands of criminals and terrorists and called for intelligent efforts to identify the downsides without \u201ckilling the goose that [lays] the golden egg.\u201d \u201cThis whole blockchain deal has the potential it does only because it is applicable across national borders, income groups,\u201d he told Sperling.<\/p>\n Ed Metzger, the head of innovation of Banco Santander, presented the outcome of their RippleNet-powered cross-border payment app, One Pay FX.<\/p>\n \u201cWe believe that financial services are moving to a world of open platforms where companies collaborate to deliver excellent customer service for their customers, and that\u2019s at the core of what we\u2019re doing with One Pay FX,\u201d<\/p><\/blockquote>\n Metzger stated<\/a>, confirming that blockchain drastically improved the way they were handling cross-border payments.<\/p>\n .@bancosantander<\/a>\u2019s Ed Metzger speaking on stage about One Pay FX at #SwellbyRipple<\/a> pic.twitter.com\/Cp0cYWXtf6<\/a><\/p>\n \u2014 Ripple (@Ripple) October 1, 2018<\/a><\/p><\/blockquote>\n \u201cOne of our customers was in Italy on holiday and parked in the wrong place,\u201d he shared. \u201cHe needed to pay a fine and didn\u2019t have his banking card. He was able to use the app to pay the fine immediately, and stop his car from being towed away.\u201d It only took that customer four-five clicks to conduct an international money transfer, Metzger added.<\/p>\n <\/p>\n <\/p>\n The post Ripple Swell Day One Roundup: xRapid Launch and RippleNet Use Cases<\/a> appeared first on NewsBTC<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"A Former US President\u2019s Take on Cryptos<\/h2>\n
Banco Santander\u2019s Experiment with RippleNet<\/h2>\n
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Image from Shutterstock<\/pre>\n