San Francisco-based Ripple despite encountering several challenges in the market still remains relentless in its efforts to expand the XRP usage. It hopes with the new Xpring initiative it will be able to achieve its goal. Reports indicate that all those start ups that will agree to use the XRP and XRP Ledger will benefit from the funds emanating from the investment initiative.
The Xpring initiative and its impact
The Xpring initiative is one of the progressive moves by Ripple on its quest to make major expansions into the banking and payments space. It is clear that it might soon succeed in expanding its reach athough some critics have time and again questioned its digital currency and the remittance network.
Ripple sees Xpring as an important move forward and as it focuses on the establishment of an ecosystem around XRP. And it thus goes without saying that in the near future a lot of companies will be able to learn how to use cryptocurrency in varied ways. Xpring is meant to assist a large number of entrepreneurs have it easy when it gets to solving issues across digital media , insurance, real estate, provenance, virtual goods, identity and many other industries.
A focus into the future
Ripple has disclosed that it will keep its focus on the global payments sphere and on the various financial institutions. Asides from outlining the new initiative, Ripple has also said that it will be bringing onboard former Director of Facebook, Inc (NASDAQ:FB) Developer Network Ethan Beard. He is expected to take up the position of the senior VP and he will be entrusted with leading Ripple’s developer program as well as oversee all activities around Xpring.
He reflected about the time he served at Facebook outlining that it was his passion assisting startups leverage new technologies and climb to the top.
Blockchain is associated with greater scalability and speed and that is why it can be entrusted with solving important issues and XRP. The various entrepreneurs around the globe and startups as well can take advantage of it to build their businesses.
Ripple is looking forward to give a major lift to the various cross-border payments and whatever it achieves is something that we will just have to wait and see.