Ripple Attempts A Reset While Still Trying To Find Compelling Use-Cases

Ripple attempts a reset while still trying to find compelling use cases for its blockchain technology and its XRP native currency. The startup can also lay claims to have created one of the most valuable assets as it total value hit $30 billion so let’s try and find out more in the upcoming XRP news today.

Eight years after the launch, Ripple attempts a reset while still having a hard time to find use cases for its blockchain technology. Now, the company is trying to draw more users but it has hit a new option: becoming the Amazon of the cryptocurrency world and using the platform to support activities that stretch beyond the original cross-border payments system. The popularity of XRP has made Ripple richer than most startup companies as it cashed in more than $1.2 billion. The value of the company is mainly tied to XRP with an option on small software business and CEO Brad Garlinghouse admitted that his company is heavily swayed by the value of the crypto hoard:

 “We are a capitalist, we own a lot of XRP. So do I care about the overall XRP market? 100 per cent.”

He added that the company has still a lot to deliver and it will probably take years as it will develop applications for its blockchain technology and to also justify the price of the currency. For example, Santander, the Spanish lender that invested in Ripple back in 2015, chose not to use the cryptocurrency with its new international payment network which is a sign that some of the most powerful backers don’t see a use case of the technology. Cedric Manager, the chief executive suggested that Ripple is not active in enough markets to support the needs of Santander.

Ripple said that Santander was still using some of the software in the payment services and it is still one of the ripple’s biggest customers. The company said that the high growth rate for the XRP facility is at the heart of the system but that it doesn’t provide absolute figures. Many observers believe that Ripple was facing an uphill battle while trying to win over the banks that invested in the technology. However, Garlingouse blames the uncertainty in the US over why the tokens should be regulated as securities and discouraging companies from using the blockchain. He also faces a lawsuit over the selling unregistered securities sale.