The managing director of global payments at Accenture, Gareth Wilson, released new predictions for 2019 regarding the crypto and financial world. He expects Ripple to register major gains this year. Moreover, he expects Bitcoin (BTC) and Ethereum (ETH) to be adopted as well.
According to him, the Ripple network will be growing around the world attracting banks and financial institutions. Using Ripple services, companies can easily send and receive cross-border transactions reducing their costs and transaction speeds. There are more than 200 companies working with Ripple and using its services.
In the future, more firms could partner with Ripple not only to be connected to their network but also to use the xRapid product that uses the XRP cryptocurrency to source liquidity on-demand.
He has also talked about central banks and how they will be issuing central bank digital currencies (CBDCs). There are several banking institutions in different countries analysing the positive and negative effects of launching a CBDC.
According to Mr. Wilson, at least one of these banks will have concrete plans to implement the technology. Venezuela has recently launched the so-called Petro in order to gather funds and avoid international sanctions imposed by western countries.
Wilson has also talked about biometrics such as facial, vice and hand-movement recognition will look robust enough for mass use. There will be several financial companies and banks that could use these tools to improve the consumer experience. Cryptocurrency wallets can also be secured using these methods.
About Bitcoin, Ethereum and Ripple, he commented:
“Although most banks will still shun Bitcoin, expect to see cash management products appear that use Bitcoin and Ethereum, and are aimed at corporate treasurers. […] Ripple’s network for cross-border transactions will continue to grow significantly, attracting more banks and corporates, leading to rising transaction volumes.”
XRP has just been added to Coinbase Pro, the trading platform managed by Coinbase. This is something very bullish for Ripple and XRP. The announcement was made by Coinbase in a blog post and XRP spiked more than 7% in the last 24 hours.