Discussing Ripple’s Influence on XRP
After the launch of XRP, the cryptocurrency faced two significant problems, the poor application of decentralization and the influence of parent company over it.
For the first issue, it is realized that cryptos are dealt upon with the users through an agreement. Due to this agreement, the blockchain is secure due to which users agree on the amount that goes between their wallets. This applies to all cryptocurrencies like Bitcoin(BTC) and for XRP as well.
When it comes to decentralization, its parent company, Ripple primarily influences XRP. In case the parent company deteriorates, crypto could survive because of the users and their agreements with XRP. When it comes to Ripple (XRP), however, it turns out that Ripple (the company) possesses almost 55 billion tokens which are locked into escrow for the next four years.
Not only does Ripple own a considerable amount of XRP, but it also has a significant impact on its use. Ripple has always been the one who determines the future of XRP, and even chooses the establishments that this crypto can touch. So far, financial service providers like Western Union and MoneyGram were the ones that Ripple wanted to work with. This increased the demand among many people for more Ripple partnerships in the area of digital commerce.
In spite of the fact that Ripple behaves like quite a dictator when it comes to XRP, this relationship is also one of the cryptocurrency’s significant support. After all, because of Ripple, XRP’s use within some of the biggest companies around the world increased.
Without the company’s reputation, all of these firms apparently wouldn’t even bother with XRP.
Despite being the prominent name in the crypto world, Bitcoin did not achieve for itself as XRP has, at least when it comes to invading large companies. This position and some excellent marketing decisions have granted Ripple to take the next step. This began when Ripple donated $29 million donations to donorschoose.org, for public education projects.
Later, a $25 million investment in Blockchain Capital, was dedicated to speed up crypto and blockchain start-ups. These decisions help the company by attracting attention hence helping to gain influence in the world through the use of XRP.
Ripple, however, has bestowed a lot of stability, support from the parent company, and is viewed to be a classy digital currency that can hold its own. It runs like a professional, which improves its chances of being accepted by a new company.
When it comes to Ripple (XRP), it has a potential to substitute SWIFT, which the banks used for entire decades, at this point. It’s inexpensive, expeditious, and more advanced that SWIFT, which is what makes Ripple a very attractive alternative.
Ripple has so far entered several partnerships, and some of them are a real mark of the desire for this crypto to be fully implemented.
There are no certainties when it comes to cryptos and their future. However, Ripple fills the modern world’s needs, and investing in it is as safe as working with cryptos can get.
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