David Schwartz Claims Interest In Ripple’s xRapid New Functionalities Is Growing Amongst Banks
Ripple is, without a doubt, one of the most important companies in the crypto world. It is the creator of the XRP tokens, which are currently the third largest token in the industry by market cap. At the moment, Ripple is trying to promote its XRP token at the same time that the company gets the support of instittutional investors which can use it in their services.
Now, David Schwartz, the Chief Technology Officer of Ripple, has recently answered a Twitter user talking more about the Ripple ecosystem.
The user was Chris Ness, also known as @CNHoldings, which tweeted about an article created by EvonSys which talked about how Ripple’s XRP was integrated with the ecosystem. The point that highlighted by the user affirmed that Ripple was created to enable banks to make transactions directly with any other bank in the world.
"This is a slide from evonsys description of ripple products. Is this true that prefered liquidity providers (exchanges ) are optional? Pls clarify @bgarlinghouse @JoelKatz @chrislarsensf @haydentiff @XRPTrump @LeeR912 @cryptoWZRD_ @digitalassetbuy @HamEggsn @spqrlee pic.twitter.com/h7UyQiSHgT
— Chris Ness (@CNHoldings) May 3, 2019
This would be done by optionally by sourcing liquidity from competitive third-party markets with “end to end visibility”. This last part was what intrigued the Twitter user.
Schwartz was quickly to answer him, affirming that the company never tries to force people and that they just make all options available and let they choose what benefits them. The most important thing, they affirmed, is to always provide the best possible experience so that the users can choose whatever they wish in their ecosystem.
He also affirmed that the two bodies involved in each transaction are able to decide whether they will use a third-party provider for liquidity or not and that they will be able to choose which one.
According to him, Ripple will never necessarily promote any specific exchange or service in the industry and their clients have all the freedom to decide for whatever service they want to use.
During the occasion, the CTO affirmed that people could read more about the subject at a blog article called “Liquidity Provisioning on Ripple” and affirmed that third parties could create arrangements with payment providers in orders to provide liquidity but that Ripple was never the intermediary of that.
He also informed the community that xRapid is growing fast recently and that the service has evolved a lot this year.