Blockchain Revolution Series: Ripple's Continued Collaboration To Stimulate Blockchain and Crypto Projects

A renowned settlement system for overseas payments, the ripple has collaborated with the Swift, IOTA Foundation, Cardano Foundation, ConsenSys, IBM Belgium, Italia 4 Blockchain, R3 and other traditional financial companies like Barclays are urging and nudging for R&D to stimulate the blockchain and crypto-projects for their prosperities. 

While the Blockchain is paving a way to mainstream business operations as it has garnered the attention of the world where big names in the industry are eyeing at this technology as the future. A technology that started as the underlying technology of Bitcoin has now become a part of many business operations like retail management, data management, monetary exchange, data exchange, supply chain, etc.

The Ripple has already been there in the game, the company's ability to send cross-border payments quickly and efficiently is seen as a plus, but banks using the existing Society of Worldwide InterBank Financial Telecommunications (SWIFT) system are not likely to give up their dominance in the field quickly.

That is why Ripple intends to generate and develop a network of banking ecosystem on the RippleNet that use Ripple’s blockchain technology, like xRapid, xVia, and xCurrent.

The company has been assiduously striving with the domestic and central banks around the world to improve payments to the general public, as well as the corporate sector. 

Ripple, has now become a founding member of the International Association for Trusted Blockchain Applications (INATBA).

INATBA is likely to cultivate a forum for institutions who have exposed themselves and concentrated towards blockchain technology to cooperate with policymakers and regulators. The initiative is successfully combining big players and influential voices, with adversaries and competitors alike, under one roof to tackle the many challenges that DLT, blockchain and cryptocurrency adoption present for governments.

The multifaceted application of Blockchain makes it a profitable venture for many companies. Well, we bring another news from the world, SWIFT is teaming up with HSBC and Deutsche Bank to form a transparent and secured Blockchain voting system.

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