on the crypto
Andrew Lokenauth, a former Goldman Sachs expert, believes XRP will likely take precedence as the public currency as soon as the Ripple foundation is able to solve its problems with the SEC.
The words of the cryptocurrency expert
Lokenauth has been involved in cryptocurrencies for years, holding various positions at Goldman Sachs, AIG bank and other major financial institutions. The expert expressed his opinion on the Ripple coin rather openly.
"Ripple will redefine online payments and I believe XRP will likely become a public IPO once the lawsuit with the SEC is resolved."
Lokenauth argues that “the main benefits of using the Ripple protocol are speed and risk reduction. Ripple XRP is a replacement for SWIFT, which is expensive and slow.
He explains that SWIFT is an old interbank settlement system, which controls the flow of money across borders. Fiat currency takes 3 to 5 days to deliver from one country to another via SWIFT and requires high transfer fees. Ripple's XRP takes about 5 seconds to transfer values from one country to another.
Ripple XRP and the future
The expert claims that Ripple uses the Ripple protocol and can provide a much faster and cheaper infrastructure for interbank payments. It will allow financial institutions and corporations a quick and efficient mechanism to move money around the world. The RippleNet platform uses blockchain technology to send money across borders to banks and other financial institutions.
"Ripple is also supported by Japanese financial services giant SBI Holdings, Spanish bank Santander and major venture capital firms, including Andreessen Horowitz, Lightspeed and Peter Thiel's founding fund."
The expert is thinking about the future in a scenario where the SWIFT banking protocol is finally about to meet a match in terms of blockchain and Ripple in this scenario enjoys a unique position as it is located between the world of cryptocurrencies and the fiat world as a bridge that focuses primarily on using the power of the network to generate as many transactions as possible.
The one selling point adopted by Ripple XRP here is cross-border payments in countries where it takes days for a single payment of just $ 2000 to be delivered to the owner of the money.
Could the price rise?
For some time, Ripple XRP has enjoyed this unique strength, and Lokenauth believes the future of the banking industry is headed in the same direction that Ripple set its brand standards and prepared for the new era of banking and banking. financial institutions.
This unique strength has allowed Ripple's XRP coin to sit at the forefront of the cryptocurrency world as the brand aims to be a method of monetary transactions within the financial world rather than serving as a cryptocurrency for the world to trade with. and play, however the XRP coin has its uses despite being mistaken for one quotation maximum of $ 1 at the time of writing.
Lokenauth is adamant that the foundation will provide redefinition moments for the financial world and initial public offering (IPO) as soon as the foundation is successful in resolving the SEC's legal issues.
