New Ripple and Amazon Crypto Rumors Kick up Digital Dust With XRP For Retail Payments Usage


New Ripple And Amazon Crypto Rumors Kick Up Digital Dust with XRP For Retail Payments Usage

Ripple continues to grow in the virtual currency market. The process of becoming bigger and better continues every single week. And Ripple executives keep mentioning Amazon when they give their presentations about global financial payments.

Cory Johnson, a Ripple executive, talked at the Unbound Miami on October 31st, about the older payment systems employed around the world. He said that it is ‘ridiculous’ that in 2018 it is possible to send text messages, files and emojis to all over the world, but it is very difficult to send money from one country to another.

He said about it:

“It is ridiculous that in 2018 we can send a text message with an emoji and get a file to a friend in Rome and send an email to a friend, but the fastest way to get money from here to Mexico City is to put $10,000 in a briefcase and fire it there.”

Additionally, he mentioned Amazon saying that it is hard for companies such as this one to pay customers in an easy and seamless way. Not only Amazon, but other companies have millions of dollars in different accounts to be able to pay customers all over the world.

He went on further suggesting that the era of digitalization needs to reach other parts of the world. Companies are working towards standards and that it is necessary for countries to have a truly global financial setting.

Cory has also said that the global financial world lacks from an instant messaging and settlement system. Nevertheless, he proposed XRP as a solution to these issues. XRP is one of the largest virtual currencies all over the world. It has a market capitalization of $18.34 billion dollars and each XRP coin can be purchased for $0.45609 dollars, according to CoinMarketCap.

Ripple, using XRP is able to solve the problems related to global remittance. Additionally, it has been partnering with different financial companies from different countries to help move money between different jurisdictions. Indeed, there are even central banks working on RippleNet and other recognized financial institutions.

Although there is no specific agreement between Ripple and Amazon, the cryptocurrency community usually thinks about the effects that a partnership of such level would have on the cryptocurrency market and on XRP.

In several occasions, the crypto community discussed about Amazon adopting their own virtual currency or a recognized crypto such as Bitcoin (BTC).

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