Unsurprisingly, Ripple has caused ripples within the world of cryptocurrencies. The creation of the lightning fast XRP token on the Ethereum blockchain promised a number of innovations to the traditional cryptocurrency economic model.
But the creation of its coins is far from the most exciting aspect of the incredible technology. Ripple is uniquely able to facilitate international transactions at a surprisingly fast speed and with surprising efficiency. These international capabilities have inspired both optimism and fear within the blockchain community, with its detractors fearing the centralization of coin and its proponents arguing in favor of the opportunity for expansion and its propensity for the spread of assets to developing parts of the world.
Finally, a laundry list of scandals and public critiques have lambasted the company since its inception. In particular, the class-action lawsuit filed against Ripple alleges that the company intentionally blurred the lines between the XRP token they sold and the corporation which they created. Additionally, resounding questions concerning the lack of operational transparency and openness of the source code for the project continue to draw attention to the startup and its coin.
Still, the business applications of the currency have drawn significant positive press—and considerable interest from some corporations. Its capacity to be used to facilitate transactions within the infrastructure of a corporation, for transactions within the company.
This is one reason why several major companies have jumped into bed with the cryptocurrency corporation, perhaps seeking partnerships which would allow them to take advantage of the nontraditional and non-fiat form of financial internal transactions.
Ripple in 2018: Business Deals Abound
Santander Bank recently announced a partnership with the company, creating an unprecedented rise in price per XRP to fifty cents each. Compounding the trend of global business interest in partnering with the innovative blockchain business, OnePay, a major player in the Bitcoin payment industry, linked up with the company as well.
The primary function of Ripple being used by major companies seems to be the xCurrent and xRapid platforms, payment methods integrated into the Ripple platform which installs incredibly high speeds, guarantees safety, and minimize costs.
But the biggest alliance between a major corporation and Ripple is their recently-announced partnership with Apple. The tech giant announced their intention to adopt some of Ripple’s coveted technology within their own infrastructure. Most speculation on the nature of the partnership finds that Apple is likely interested in adopting the global transaction capabilities to assist in their financial transactions with clients all over the world.
The announcement came as both a shock and a massively-stimulating reality for the coin and the community alike. The price per XRP coin has risen to 69 cents per token, and it is expected to continue to rise as more news about the partnership becomes public. Experts project that the price might eventually climb as high as $10 per coin.
Still, though, the results of litigation concerning the company, as well as the continuation of developments and partnerships currently in the works, will greatly affect how and when Ripple ascends in price and in prominence.