In December last year, the CEO of Ripple – Brad Garlinghouse announced the presence of fifteen executives of J.P Morgan in a talk he gave regarding Ripple (XRP) technologies. Back then, the value of XRP exceeded the $1 level for the first time ever.
Ripple (XRP) Price Today
Ever since, a lot of people became hypothetical of the possibility of a partnership between Ripple and J.P Morgan.
Garlinghouse’s Previous Predictions About Crypto in 2018 Pushed Back to 2019
While referring to an earlier prediction he made about 2018 (that the year 2018 will see a boom in the participation of digital assets due to institutional investments), Garlinghouse said that he had pushed back the prediction he made earlier to next year. The Ripple CEO also avoided giving a prediction for the almighty Bitcoin (BTC) going on to describe giving a verdict on BTC it as a tough task. Probably because of the persistent issue of manipulation that exists in multiple exchanges. When giving his final crypto predictions for 2019, Garlinghouse declared that he is expecting to see an increase in the rate of transparency in more related projects in the space, as cryptocurrencies move away from clandestine roots toward a better regulatory process and subsequent mass adoption. According to the Ripple CEO as a direct result of this 2019 will be the era that banks will start holding digital currencies on a large scale. Hence, promoting mass adoption.
The Potential Impact of the Partnership
The collaboration will in part have a significant effect on the value of the coin, as the xRapid features of Ripple gain the attention of the biggest investment bank across the globe. Recently, the official Treasury site of J.P Morgan also announced that they were working on a payment system (real-time) that’ll have “ripple benefits” to their clients.
This announcement definitely ignited hope for XRP investors and Ripple, but is the financial institution up for a collaboration with XRP or Ripple Inc.?
In a report that was published about a week ago, an insider’s statement was made public of the intention of the companies to partner pretty soon. According to the statement, the firms were having discussions and consultations with the headlines of the partnerships expected to huge when published.
Is Ripple the Chosen Distributed Ledger Technology Solution?
The technologies of Ripple are known to be bank friendly, and it has seen the massive adoption of the xCurrent system by more than one hundred financial institutions according to the CEO of Ripple. J.P Morgan intends to introduce a new payment method in the United States for the first time in forty years that aims to simplify processes from initiating transactions down to reconciliation.
This sounds more like Ripple’s xRapid technology. Nevertheless, is Ripple (XRP) the chosen distributed ledger (blockchain) to lead the financial institution to secure, costless, and instant payments?
Since the bank has already launched its own blockchain – Quorum, chances are the bank will not adopt the blockchain of Ripple.
But Ripple Inc. still has the opportunity to partner with the bank as it offers a more developed and advanced platform with better feature than the blockchain of Quorum.