Ripple CEO Announces Games to Be Built on XRP Ledger While at Davos Conference
The blockchain technology industry has been thriving for the last few years, as the industry finds new use cases in the healthcare industry, shipping industries, and even the food industry. Ripple, being one of the biggest enthusiasts of bringing decentralization to every marketplace, has decided to expand their products to include gaming opportunities in a surprise announcement at last week’s Davos conference.
Brad Garlinghouse, the well-known CEO of Ripple, mentioned almost casually that the XRP Ledger is presently accommodating their creation of games on the network. Ripple has largely been a payments company, centered on cross-border transactions and improvements in speed, and cashing in on the growing gaming industry is a brand-new path.
Garlinghouse joined Brian Behlendorf of Ethereum and Joseph Lubin of ConsenSys on stage at a panel, as the group discussed multiple topics of interest, like payment solutions and games on the blockchain. The concept of hosting games on the blockchain became a major point of conversation, as developer Eric Schiermeyer of Zynga posed a question about whether the gaming industry for blockchain was not getting the hype it deserves.
Taking on this question, Garlinghouse said,
“I think this is one area where blockchain use is underhyped… it is incredibly interesting in terms of which underlying blockchain is most efficient… I think there’s a couple being built upon the XRP Ledger and I think it’s gonna be a very interesting space to watch in 2019.”
Even though there are proofs to support what Garlinghouse said, it does not make the decision any less surprising to the public, but only if they are not looking at the whole picture. Ripple partnered with Microsoft in 2015, and Microsoft already has the Azure Blockchain as a Service (BaaS) in effect, though it focuses on payments, which makes the connection seem fairly obvious. R3 support enterprise blockchain software, and already has a partnership with Microsoft.
“Microsoft is expanding its strategic partnership with R3 to more deeply integrate R3’s distributed ledger platform, Corda and R3Net, with Azure.”
The next partnership that makes these promises into something more real is their collaboration with GSR, which is an innovative brand that allows for electronic trading of digital assets. Their proprietary technology is created within their own brand, offering liquidity solutions. They also were one of the first “market makers” to join the Consensus Ledger with Ripple.
Cristian Gil, GSR’s CEO, has been open about speaking on the gaming industry, saying that the market has the ability to prosper when integrating blockchain technology and related innovations. When gamers make in-game purchases, there needs to be a trusted platform and there just is not. Gil said,
“I guess it was a natural next step to use Ripple protocol to allow the users, the citizen of Beach Head to trade these different digital assets.”
Gil will be leading Beach Head’s market making, ensuring that it offers a variety of tokens, including Ripple’s XRP.
Alexis Sirkia, the CTO of Blockchain Economy Director, is taking on the major task of developing the crypt economy in this new game. She said,
“The Ripple Trading Engine will act like a matching engine which is distributed and trustless. Ripple Engine is the only distributed trading engine that is mature enough to be used. It has a settling time of only four seconds and is a perfect vehicle for trading.”