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IEva Kaili, a member of European Parliment, spoke at a Ripple Regional event organized by Ripple. She discussed blockchain technology and it’s ability to disrupt all sectors of business, government and personal interactions. She took the time to offer her insight into the blockchain and how much things have changed since 2014, when she attended her first blockchain conference due to her involvement in politics. On a positive note however, things have changed for the better between now and then. She said that financial institutions and EU banks and leader had maintained their interest in crypto and the blockchain for two main reasons: mainstream acceptance of the tech by leaders all over the world and EU’s new approach to regulation.
With Ripple as an example, Ripple being SWIFT’s main rival, through the use of Ripple’s tools, have made cross border payments faster, cheaper and safer. Euro Exim Bnak, has now switched from SWITF to using xRapid, a Ripple tool. With Ripple’s entry into various economic sectors, like National Commercial Bank of Saudi Arabia joining RippleNet, Ripple, MoneyGram Announce XRP Currency Transfers and other developments, Ripple is truly poised to be a real disrupter. With Euro Exim Bank, They said that one of the bank’s transactions got lost this month on the SWIFT network. It’s then that they decided to look for other options to swith as it’s time to move on to better and safer products such as the tech used by Ripple.
“It was lost somewhere in the quagmire of a central organization, and we have no visibility on where it is. All the counterparty says is, ‘We have not received your message,” the bank’s CEO said.
As we see more and more governments, businesses and individuals start to see the value of crypto and blockchain, the switch to other types of digital currencies will only accerate and Ripple will be at the forefront of that switch.
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