A Ripple In China | XRP

in #cryptocurrency7 years ago

As the cryptocurrency space continues to grow and defy expectations, it is important that this momentum spreads into new territories, allowing for the benefits of cryptocurrencies to be witnessed worldwide. This is a sentiment that Ripple seemingly shares, as they prepare to establish a base of operations in one of the world's fastest growing economies, China.

With this tweet by Emi Yoshikawa, Director of JV Partnership and Asia BD at Ripple, we are seeing the clear greenlight for Ripple's expansion into the Eastern Asian country.

What Is Ripple

Now for those who are not fully informed about Ripple's capabilities, let's run through a quick reminder of what Ripple actually is.

Ripple provides global financial solutions to banks and payment providers by significantly reducing the cost of cross-border transactions, as well as the time taken for them to settle. Comparing transaction times of mere seconds with Ripple, to transaction times of hours with existing services, gives Ripple a clear competitive advantage in this space.

Through the use of its digital asset, XRP, the 4th largest cryptocurrency by market capitalisation, Ripple is able to cut down on any scaling issues. Reportedly being able to handle 1,500 transactions per second, relative to its peers, Ripple is the clear option to use when conducting cross-border transactions.

Source

Ripple in many ways acts as a bridge that enables users to seamlessly transfer their money. The value of this to businesses is self-evident, Ripple can reduce costs associated with cross-boarder transcations by making the process a much more streamlined one, a benefit that would result in an increase in profit margins for businesses.

Why Get Into China?

China has one of the world's fastest growing e-commerce sectors, with a trade value of its cross-border e-commerce market expected to exceed USD$2 trillion by 2020. This is certainly a big enough market for Ripple to operate and grow in. Capturing this market would likely result in significant monetary gains for the digitial coin and its investors. With notable Ripple investors such as: Santander, Google Ventures and Accenture, Ripple has the backing and the credibility to make some serious moves in the Chinese market.

Casting our minds back to the announcement of its partnership with finance powerhouse SBI Holdings at the beginning of the year, Ripple has gradually been preparing to offer its services to the Asian region. With the formation of SBI Ripple Asia, Ripple hopes to sell and install their cross-border solutions to Asian countries. Having already announced plans to expand into Japan and Thailand, China is just another tick in the box for Ripple.

Potential Headwinds: State Control

Capturing the lucrative Chinese market may not prove as straightforward as one may intially think. Ripple will have to overcome some significant hurdles, one of which may be the Chinese government itself. Chinese central authoritities are well known for their willingness to intervene in market and company activities that they deem out of their control.

Any possible intervention would have the effect of harming Ripple's ability to operate in the Chinese space, which would hurt their growth prospects in the region. However, the government is seemingly supportive of cryptocurrencies as whole, refraining from pursuing measures that would completely restrict the growth of the space in China. A sign that bodes well for Ripple's move into the growing Chinese market.

Conclusion

Ripple is spreading the benefits of cryptocurrencies to new markets, and so, they can only ever be supported in that endeavour. It has the backing and the capital to continue promulgating the cost, speed and scaling benefits of cross-border transactions through the use of its digital asset, XRP.

Through strategic partnerships, Ripple may be able to successfully navigate the hurdles of the Chinese market and come out on top.

@bisade

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What about the concern of insiders owning so much?

This reads like an infomercial. Ripple is not a true cryptocurrency and runs outside a decentralised blockchain and is a tool for banks... and controlled by banks.. and it is my opinion that as it has unlimited supply (can be produced by financial institutions at will) it will never grow significantly in value. They state they are going to 'decentralise' but only to 'approved' nodes...LOL. And is the code open source? Can someone provide a link to their White Paper? I believe Ripple existed before Bitcoin..any naysayers?

if I can make money off it, I'm in!

Fair enough.... and it is bucking the red trend today.

Its nice to see a positive perspective on XRP. Seen so much negativity about it lately and for a while. Fact is, if it's providing a good service to the world then it will help everyone out and there's definitely the place for decentralized things which will likely do very well also. Appreciate the info.

i bought some ripple 2month ago when some one say me that ripple is to powerfull coin and many coutries banks accepted ripple and i bought this but i still not happy with ripple its under my bought price @adsactly sir

You bought into the hype is why. If you knew how the crypto markets worked you would have seen that they go through hype cycles followed by long periods of dormancy. Once people stop paying so much attention to BitcoinCash they will put some money into the other cryptos. Think more long term because XRP will be one of the dominating currencies in the next twenty years.

Thanks for sharing...Following you for more.

This is good news, but the ripple will always have a low value

man i wish i could get some ripple

bittrex as well

It's available on www.kraken.com

cool following you

Awesome how you just brought awareness, hence the name.

According to Forbes China's economy will overtake the U.S. in 2018 so it is a smart move from Ripple. They are partnering with 75 banks in Europe, North America, the Middle East and Asia. In July 2016, Canada’s ATB Financial sent C$1,000 to Germany’s ReiseBank over a platform developed by Ripple, which they claimed was the first real-money international transfer using blockchain technology. It took only 20 seconds to complete, compared to the several days most international bank transfers take to clear. The Bank of England is now in this game as well: its FinTech Accelerator is trialling Ripple’s technology to make cross-border payments and currency transactions more immediate. According to Treacher, this collaboration marks the first instance of a central bank exploring blockchain technology. And there are also ­several trials aimed at increasing the speed and transparency with which property purchases are recorded officially recognised.I am investing as well a lot now in Chinese Cryptos like NEO or Yoyow I think they will do very well in the future because of the fast growing e-commerce sector there strong economy and there are a lot people who will support there Chinese tokens.

Very good cryptocurrency post.. I read full.
So.. I follow n vote you
Follow back oke. We can be friend 😁
@adsactly

Ripple coin best coin may be double in this month

Ripple is going to be huge...time to invest in it

Does it mean we can expect Ripple price increasing?

That is great news I believe for Ripple Investors.

I hate XRP...It seems it's not so decentralized

It is entirely pre-mined and since there are no miners the fees are destroyed in order to create a sort of deflation. It is a very centralized system but that is the only way we can bridge the gap from the crypto world to the banks. They need the centralization in order trust it and that is precisely why Bitcoiners worldwide distrust it.

for the bankers controlled by the bankers...and that is why there is NO trust. Even the nodes are controlled by the bankers.

emy_wng Emi Yoshikawa tweeted @ 10 Aug 2017 - 20:02 UTC

Ripple is looking for our first set of feet on the ground in China to launch and operationalize our team there! ripple.com/company/career…

Disclaimer: I am just a bot trying to be helpful.

It looks like xrp is promissing a good growth, the best time to coin is now. At this momment. Don't wait the first light tomorow.

Ripple going good. why not buy it? :D

You make a very good great mister @adsactly

Excellent post, give me a hand in my post

Thanks I might double up soon.

thanks for your post

Could you follow me @imadl

Very good optimism for Ripple, would take some time to set up shop in China, but the new China economy is just getting started. One concern you mention in the post is Santander as a backer, Im short Santander, they are a major bankruptcy risk when this credit cycle rolls over in the regular "slow" markets.
Is anyone at Ripple aware of this? That could be a big hit to Ripple

I like the speed and ability for ripple to be used internationally. It needs more visibility with consumers to expand its popularity.

The low price of XRP is attractive as a currency and I hope it doesn't get caught in a speculative bubble so that it becomes a commodity with wild price fluctuations.

I predict that Ripple will be one of the altcoin money that will grow, be used by many parties and become digital money necessary for exchange transactions between currency and money transfer transactions between borders or groups.

I bought a little XRP in the spring, and since then it just falls :(

**Disclaimer- I used to hold XRP

While I think the underlying tech is great and has a place in fintech, I am not sold on the XRP coin. Until someone comes out and unequivocally states "We will only use XRP for transactions." the coins value is diminished. The amount of XRP held by ripple is also concerning, escrowed or not.

"The amount of XRP held by ripple is also concerning, escrowed or not" ...correct, and of course can just be 'pre-mined' into existence at a whim.

Now is still a great time to buy RIPPLE people! It is below 16 cents when the high was 3X this just 2-3 months ago. It was trading at 43 cents this summer and will definitely break $1 each by next year at this rate.

I invested some money in Ripple so I think this is great news for me. Thank you :)

With all the capital restrictions that the Chinese govt constantly impose, I can see cryto is only going to get bigger in China.

Thanks for sharing :)

Very interesting article!

thanks to share,,,

All in on Ripple currently! 70% in it

One of the best reads by far. Really good guide that helps me understand Ripple's use case better. Thanks!

I get the point of Ripple. I don't get the point of XRP.

Any way you look at it is fine... you can still make money in ALL Cryptocurrencies. Here's a trade I made yesterday on Ripple - profited very nicely. I use base trading to find the bottoms and buy on the panics. Then I sell on the base support.

Check out my trade here:

https://www.coinigy.com/s/i/599eed81bfb31/

Hope it help some!