Ripple’s Cory Johnson Talks About How Amazon Can Benefit From Implementing XRP’s Technology


During the Cornell Entrepreneurship Summit that took in New York City, the chief market strategist of Ripple, Cory Johnson, talked about how the company’s technology can be used to reduce cost and improve speed during cross-border payments. He was asked where he thinks Ripple will be in ten years. In reply, he said that Ripple’s technology will be key in helping the largest companies in the world move money and make payments to employees across the globe. In his words:


“We can see the $23 trillion dollars that has been sitting idle in Nostro and Vostro accounts. These funds are kind of just waiting to be used as pre-payment because money is slow.”


One of the companies that will benefit the most from this technology is Amazon. Amazon is the most capital efficient companies in the world. It has billions of dollars in different accounts used to pay employees or vendors on a global scale. Johnson continued:

“So, I analyzed it and figured out how it will look. I cannot imagine what the world will look like in the next ten years when employees can be recruited from Bangladesh to work in the United States. Imagine if a Thai nanny can easily send money to her family in Japan. In places where an amount as small as $5 a month can have life-changing effects, this technology will be priceless. I can’t really imagine that but I am stoked.”


XRP (XRP) Price Today – XRP / USD
#NamePrice24H %
3
ripple
XRP(XRP)
$0.287
-1.27%


In addition, Johnson talked about the role cryptocurrencies like XRP will play in reshaping the traditional financial system. He continued:

“The XRP technology allows people to carry out transactions quickly and efficiently. Currently, moving money from one country to the other is highly dependent on Swift’s technology. Swift has been in existence since 1973. It is operated by a consortium of thousands of banks. The system has thousands of employees in Belgium. To make changes on the Swift network, all the disparate pieces of the traditional financial system must agree on it.”
Johnson said that this makes it difficult for innovation to occur on the Swift network and no technology has been developed to fix this problem yet except Ripple’s technology. He said that if not for the XRP technology, it would have been difficult to transfer value thousands of times within a second. This is why the XRP technology is as cheap as it is.


If big time companies like Amazon and American Express use Ripple’s technology, this would pave a way for mass adoption for XRP and other Ripple tech. Amazon using XRP’s technology will also propel other major companies to bank on this new system. Ripple will eventually be at the apex of the next financial revolution.


XRP (XRP) Price Analysis


Right now, XRP is trading in green at $0.359885. It is up by 0.86% against the USD and up by 1.25% against Bitcoin. The trading volume over a 24 hour period is $426,104,057 and the market capitalization is $14,681,192,229. The price has been on a sideways trend for a long time now with no signs of a long-term upward correction in view.

Ufuoma Ogono is a cryptocurrency writer with over 3 years experience in the cryptocurrency industry. She dedicates her time to sharing valuable information to members of the cryptocurrency community.

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