In an interview about the digital asset space and the technology involved in recent days, Cory Johnson the chief Market strategist at Ripple has spoken about them in details saying that the hidden technologies that are inside a product which is an important hardware are not that relevant to the consumers as they don’t matter to them. Further, during an interview with Cheddar, he spoke about the Distributed Ledger Technologies (DLT).
Cory Johnson started his interview targeting people and saying that they are confused with the technologies and digital assets. He meant to say that if people choose a particular technology they talk about the price first ignoring the features involved. This in totality changes the technology exists.
He further said that if that was it was with TCP/IP (Transmission Control Protocol/Internet) and people would have attached a price tag then the whole meaning of the technology would have changed.
Distributed Ledger Technologies Allows Security And Flexibility
DLT (Distributed Ledger Technologies) helps in providing the security and it also distributes the ledger for its proper assessment as it is working properly or not, this statement was made during the interview according to Johnson and he believes that by this, it offers many things to be discovered on the distributed database which has never done before. People should see the benefits of the technology and just not see it as a device. He also stated that Ripple is ahead of all its competitors in the market.
Ripple’s B2B Transactions
It has a lot of Business-to-Business transactions in daily routine and this is due to their expanding and focused bank to bank transactions all over the world. Johnson further stated that Ripple is majorly involved in B2B transactions, with less B2C transactions taking place. Consumer concentrate in just trading cryptos and digital assets thus ignoring the technology behind it.
Johnson Contradicting His Previous Statement
Johnson ignored the answers during the interview when he was asked about the best way to educate the people about the technology. He stated that everything is not necessary to explain to the consumers just like an SMS technology where people are not aware of how it works behind the scene. Same way if Ripple is making bank to bank transactions people need not know the technology behind it.
Ripple is solving the payments problem cross-border but it is not necessary for the consumers to know how the problem is going to be solved.