• 3 years ago
Categories: Analysis

Three Potential Partnerships That Could Propel Ripple to the Top

Ripple XRP has become a dominant cryptocurrency in the recent past and its popularity rises by the day. While its superior technology, speed, transaction fees and scalability are the key drivers of this growth, the partnerships it has forged along the way have also gone a long way in strengthening confidence with its users.

With 100+ banks and other financial institutions already using the Ripple network, Ripple has been a market leader in corporate partnerships. The strategic partnerships are set to continue in 2018 and could make all the difference not just for Ripple but for the cryptocurrency industry at large. Some of the potential partnerships that could shape the future of Ripple and propel it to the summit include:

1. Starbucks

Easily one of the most recognized brands in the world, Starbucks serves millions of customers every day in over 27,000 locations worldwide. Starbucks Chairman has expressed his support and optimism with the blockchain technology and cryptocurrencies in the past, terming it as a necessity for businesses which want to prosper in the future. However, he went on to rule out Bitcoin as a payment method stating that Bitcoin would be unsuitable now and in the future. This leaves Ripple in a prime position when Starbucks finally decides to incorporate cryptocurrencies given its market-leading transaction speeds and negligible fees. Starbucks also allows customers to pay for their coffee with a mobile app which would make it easier to incorporate cryptocurrencies. A Starbucks-Ripple would be a landmark for the entire cryptocurrency world and would mark a huge endorsement and an expression of confidence in cryptocurrencies by mainstream firms.

2. Amazon

Amazon caused quite a stir in the cryptocurrency world when it registered cryptocurrency-related domains and fueled speculation that the online e-commerce giant would incorporate cryptocurrencies at last. While no official statement has been released by either Ripple or Amazon, it’s easy to see why Ripple would be the favorite cryptocurrency for Amazon. With 100 billion of XRP, the liquidity is clearly not an issue unlike many other cryptocurrencies. With Amazon serving millions of customers globally, Ripple’s low transactions fees and ability to scale would be ideal. With Amazon being the largest online retailer globally, Ripple would be exposed to a massive market that would drive its price to dizzying heights.

3. Porsche

Porsche is set to become the first automobile manufacturer to test the use of blockchain technology in a car. Porsche is partnering with Xain, a Berlin startup for the implementation. While Xain is fully capable of developing its own blockchain, it’s highly likely that the startup will seek an established blockchain and cryptocurrency for the partnership. Ripple is being touted by many industry experts as the prime choice thanks to its negligible fees and the speed of transactions. Porsche plans on using the blockchain for simple tasks lock and unlock doors as well as more complex tasks such as improving the safety of driverless cars.

While these partnerships would open new opportunities for Ripple and other cryptocurrencies in general, none of them has been confirmed yet. As we await any news regarding the same, we can only remain optimistic and hopeful that soon enough, you’ll be able to order from Amazon, pay for your morning coffee and unlock your luxurious Porsche all with your Ripple-powered wallet.