- Viral Shah’s LinkedIn page sparks speculations about Ripple
- Is IBM trying to incorporate Ripple and XRP?
Viral Shah, an IBM solutions architect based in Mumbai seems to be working on a proof-of-concept that uses RippleNet. According to his profile on LinkedIn, which reads thus: “Solutioning for YONO App for various CRs and new requirements. Performing POC on RippleNet Blockchain implementation for Bank. Interacting with various team and client to gather information and drive various solutions.”
Though, IBM has an active partnership with several blockchain platforms – Stellar. The pair are creating a payment system termed World wire, which utilizes the stellar protocol to run cross-border remittances. Currently, the Ripple community is debating and speculating if IBM developer Viral Shah is researching RippleNet.
Is IBM Trying to Incorporate Ripple and XRP?
Though, IBM has not confirmed if it has ever worked directly with Ripple, which has also created a collection of tools to run cross-border transactions. Sometime in February, IBM’s former head of blockchain, Jesse Lund, stated that the company’s Stellar-based payments scheme could pair with Ripple and settle transactions in XRP. Lund went thus:
“Participants on the network should be able to choose and negotiate their choices in real-time. And the pricing might be different depending on the settlement instrument you use. So I think with Ripple, they’re looking at XRP as their primary digital asset for settlement. For us, it could be Lumens; it could be Ripple; it could be XRP even. It could be Bitcoin. But it would also probably include other instruments like stablecoins and even eventually, soon hopefully, central bank digital currencies.”
Commenting on this, @LeoHadjiloizou on Twitter stated: “IBM performing RippleNet implementations?#XRPcommunity.”
XRP (XRP) Price Today – XRP / USD
At IBM, Shah also states that he works on YONO. YONO is a digital banking app from the State Bank of India. The app is created to make transactions swift and easy for people while they pay their bills or shop online. According to Shah, he was also working for LTI, an established Ripple Partner, for several months. A document from 2017 states that the company has been working on a payment solution for a “leading Indian bank” for 2 years.
Then, the Indian Banks, Axis Bank, and YES Bank paired joined RippleNet. Though there are some peculiar connections between IBM and Ripple, there is no official validation from RippleNet or IBM that collaboration exists or is being sought. Thus, these are merely speculation for the time being.
XRP price analysis – After a failed effort to exceed the $0.2000 resistance, Ripple price began a fresh decline against the U.S dollar. BTC and ETH encountered a surge in selling in the last two days, putting pressure on XRP.