Ripple inaugurated the ‘Swell 2020’ with important figures such as the World Bank Representative

21. October 2020 By admin Off

The annual Ripple meeting takes place, this time virtually, but with the presence of the World Bank representative.

Ripple started its annual meeting with experts from Blockchain and the world’s financial sector, including the World Bank representative, as can be seen on its official website.

Under the virtual premise, the Swell 2020 will be carried out on this occasion with online presentations by Ripple representatives and their guests, due to the restrictive measures of the COVID-19 pandemic.

Last year in the Swell 2019, the Moneygram holder announced the use of the platform for the mobilization of 10% of the total volume of transactions between Mexico and the United States through its network with RippleNet technology.

On this occasion, he highlighted the presence of the World Bank’s Director for Financial Inclusion, Infrastructure and Access to Finance, Competitiveness, Innovation and Global Practice at the multilateral organisation; as well as being responsible for responsible access to finance, credit infrastructure, the Global Support Framework for Financial Inclusion, and the Global Programme for Financial Consumer Protection.

Mahesh Uttamchandani, who also jointly leads (with a co-director of the IFC) access to universal financial services, will be speaking at this year’s conference.

The meeting was opened by Ripple CEO Brad Garlinghouse, who announced a further expansion of RippleNet and many exciting discussions.

Ripple currently has the most robust platform for processing financial transactions, which is why consortiums such as Santander, Moneygram and others have implemented this technology offered by Ripple for cross-border transactions at a lower cost, generating a better competitiveness.

Ripple has emerged as the payment gateway of the traditional financial sector, which from the outset has been trying to prevent crypto-currencies from not being adopted by more people. For this reason, the use of blockchain technology by these financial institutions is a recognized advance in their technological apparatus, but nevertheless the use of crypto-currency continues to be underestimated.

Ripple, in its technological advance, has an efficient and economic payment platform, which has allowed it to meet with central banks in some countries, including Brazil, which last year announced its intention to use a national digital currency.

The head of the European Central Bank “ECB” Christine Lagarde. recently said that there must be an acceleration in the digital transformation of the monetary system, trying to establish an alchemy between banking, capital markets and state-of-the-art payment systems, so Ripple’s CEO Brad Garlinghouse on the social network Twitter said that Ripple can offer just that and therefore a great discussion was generated on the social network, as reported by Crypto-News.

In addition, the Executive Director of the Blockchain Association, Kristin Smith, is also expected to attend the conference at this annual meeting. Smith is the Executive Director of the Blockchain Association, the Washington DC-based trade association representing the most prominent and respected organizations in the Bitcoin Circuit industry.

The Blockchain Association is charged with promoting the development of long-term partnerships between U.S. policy makers and government agencies and those responsible for Ripple, with the sole purpose of increasing the implementation of the use of technology in U.S. government agencies, and this requires close ties.

World Economic Forum representative Sheila Waren is among the other participants. She recently praised the cryptography industry and stated that the financial world of tomorrow will be fairer and more accessible to all.

Also present at the conference will be the CEO of TPBank, Hung Nguyen. TPBank has been using RippleNet since last year to process cross-border payments quickly and cost-effectively. The Asian market is becoming increasingly important for Ripple, so Ripple is also continuing its expansion in this region.

Other notable speakers include Ousmène Mandeng of Accenture, Tjada D’Oyen McKenna of Mercy Corps, Alenka Grealish of Celent and David Mills of the US Federal Reserve Board.

Although last year with the announcement of Moneygram a price increase was expected, which did not happen, it must also be said that despite the price of Ripple, it is positioned within the five major currencies of the cryptographic ecosystem by market capitalization and the cryptographic movement that this generates.

And this is so because its alliances with financial entities allow the ecosystem to always be in constant movement, achieving a sustained growth over time and therefore a more than evident adoption by many who believe in the platform.

But not everything ends there. It is worth mentioning that Ripple is entering markets such as Mexico, which represents 90% of the unbanked population, which is an attractive market for Ripple’s associations in that country, in addition to the investments it has made at a technological level with universities in Mexico in search of increasing innovation and inclusion in the use of new technologies in the region.

The Ripple UBRI Initiative was launched in 2018, and seeks to give a boost to research and technical development in the world of the Blockchain. To this end, it has allocated some USD 50 million as an incentive to universities to carry out this programme, which basically seeks to develop innovative but feasible and affordable projects that boost the Ripple ecosystem.