Ripple Summarizes 2019: Facebook Libra Surprise and RippleNet’s Record Growth

A new edition of ‘The Ripple Drop’ has been released and the Ripple team has come together to offer their insights on many of the happenings that defined the crypto calendar of 2019.

To start with, the edition captured a discussion on the launch of Facebook Libra and the stunning growth of RippleNet in the year 2019.

Sometime in the middle of 2019, the whitepaper of Libra was revealed for public readership around the world. It documented a comprehensive account of what and how of the new digital currency that was being proposed by Facebook is designed and functions.

The introduction of the paper had an anxious effect on governments around the world which had combined forces to grill the officials at Facebook with regards to the working of the digital currency. Several security and privacy concerns were laid out before the stakeholders and for several months, the ground was fertile for a ferocious discussion on the new virtual currency.

The Ripple Drop edition further talks about the rise of the RippleNet’s On Demand Liquidity (ODL) which is built on the digital asset XRP. The design of the ODL allows for greater transaction speed while minimizing security concerns. By facilitating an innovative way of making cross-border payments, RippleNet has experienced a remarkable growth in the market.

According to the new edition, the CEO of Ripple Brad Garlinghouse, considered as his “aha moment” the time when ODL was acknowledged by MoneyGram’s CEO Alex Holmes as a positive steering force that had benefited the company. He expressed his gratitude when he said, “Having spent maybe a year talking to the leadership team at MoneyGram and seeing the transition from skepticism to significant advocacy over the course of the year was really profound.”

The last, and perhaps most interesting, section of the article discusses some predictions that the Ripple team has for 2020. The CEO of Ripple believes that in the times to come, a lot of cryptocurrencies will vanish into oblivion as users will turn towards quality. The CTO of Ripple David Schwartz shared his opinion too, adding that for a sustained growth, crypto companies will have to find new use-cases to engage the interest of the consumers.

The SVP of Product Management Asheesh Birla said that by the end of the decade, most of the financial machinery will have evolved using blockchain technology. Overall, the members of the company contributing to the article have agreed upon the impending rise of blockchain as a complete force that will be the blood and soul of future financial solutions.