There are few people who can generate a number of unrest among the crypto currency community, like Ripple's CEO Brad Garlinghouse. In front of the packed house building at the Yahoo Finance All Markets Summit for Crypto in New York on Wednesday, Garlingeye spoke with his former employer about his launch of Ripple and XRP payments, a digital coin in which Ripple owns 61% of the shares and a whopping 32,000% in 2017 . He also showed that he had a lengthy BTC. Garlinghouse used the forum to announce that the launch of payments Ripple had just signed LianLian, service provider No. 4 Chain, to its xCurrent fixed-chain platform for cross-border e-commerce payments in real time. He outlined cross-border payments, humorously pointing out that before XCurrent Ripple to get £ 10,000 from New York to London on the same day, the fastest way is to travel to the nearest Newark airport and fly there money. "XCurrent provides real-time messaging and settlements between banks," he said. Garlinghouse pointed to what he described as a "misunderstanding of digital assets," which is widespread today, citing an example from the dot-com era that can be applied to today's crypto-currency environment. He recalled how in his early days, when he worked in the telecommunications sector, he visited the then executive director of SBC, Randall Stevenson, who is at the helm of AT & T. Early in the century, Stevenson told Garlinghouse that SBC would never use IP for voice communication. "The fact is that he said that they have a reliable analog switching network that worked brilliantly on the voice" and that they invest in data. Garlinhgaus noted that today in AT & T there is no voice network - it's all VoIP. "I think that the same will happen in the banking sector. People who invest in us like xCurrent, but they are not sure about xRapid (Ripple's product for liquidity.) I hear Randall Stevenson's echo camera, "he said, adding that he views xRapid as a scan product, pointing to the four current users who include payment providers MoneyGram and Mercury. "I think this is only the beginning," he said. In general, he believes that the congressional hearings that were launched earlier this week regarding regulation and events, such as Yahoo, are signs of maturing in the crypto currency market. "For me it looks like 1997 and the birth of the Internet, when I was a young whippersnapper in Silicon Valley," Garlinghouse said, adding: "Regulators behave the way they should, so that we control the situation around KYL and AML. There are reasons for this. If exchanges try to bypass the requirements of KYC, [regulators] must come and ensure their compliance. " Garlinghouse at BTC Meanwhile, although Garlinghouse is very long bitkoyn personally, saying that he is not from the fact that "BTC is dying from some terrible death." However, he does not see how he solves the problem of payments in the world, saying: "XRP is 1000 times faster and cheaper than bitcoin-transaction. Are you going to use a portion of BTC to buy a cup of coffee? It takes several hours to complete the transaction. Your coffee will be cold, "he joked. Garlinghouse at JPMorgan Ripple is a payment company that focuses on cross-border transactions, a market that is largely based on SWIFT for global banks. But, as Garlinghouse notes, only a small number of banks dominate SWIFT and allocate billions of dollars in profits from the rest of the banks in the interim period. "Ask why Jamie Dimon says things (he said about bitkoyne)," Garlinghouse said, pointing to Citi, HSBC and Chase to the top of the SWFT. "They make a lot of money from other banks. We talk with banks, and 99.9% of them want Roppl to be successful, because they are tired of paying these guys, "he said.Early Living In conclusion, Garlingeys expressed his opinion about the industry, which, he said, remains at the "teenage stage." For him, this is incredibly important and for the success of Ripple for the industry to mature, including media coverage. Meanwhile, he does not consider other launches of blockades as competitors. "Many of them go for different uses, for example, in the early days of the Internet. Yahoo does not compete with Amazon. The Internet should grow. I want all companies to rise. An important element of the mature industry is the maturation of all aspects of the coating, "he said. Recommended image from Flickr / Christopher Michel.
Source: www.ccn.com