There is still a lot of confusion regarding Ripple and their XRP token. Unlike other cryptocurrencies such as Bitcoin and Ethereum, Ripple is not focusing on the same market as Bitcoin and ethereum Moreover, the company wants to make the financial sector to be more efficient using the blockchain technology.Some believe XRP may be rival to Bitcoin and Ethereum in terms of success in future.
A lot of cryptocurrency users dislike Ripple and XRP, for distinct reasons. Bitcoin and other altcoins are designed against banks instead of supporting them. This is because many feels banks have long profited enough without offering any substantial return to its customers. With a growing global focus on digital solutions, financial institutions have to learn on how to adapt or else they become obsolete. Embracing Bitcoin and Ethereum will most likely not happen anytime soon. That doesn’t mean the banks are not keeping watch on what is going on behind the scenes at Ripple, though.
So much people still assume XRP is a cryptocurrency. It has never been and it never will be advertised as such. XRP is the native asset of the Ripple ecosystem, which can be used to facilitate real-time transactions across national boundaries. It requires nothing for banks to use this asset, but it can be of great benefit to them to at least consider it. The project certainly is making a lot of waves right now. In fact, Asian financial institutions are greatly in support of this project.
