Central Banks of New Zealand and Australia to Adopt Ripple Soon?

Today on June 27, the central banks of Australia and New Zealand made interesting comments on blockchain technology and cryptocurrencies in general. According to the source, the banks are generally positive about cryptocurrencies meanwhile they also expressed an opinion that Bitcoin is inefficient, and may not be ideal for their operations.

The banks also pointed out a possibility about issuing their own cryptocurrencies in the future. According to field experts, this can be a great opportunity for Ripple as these two banks may measurable consider adopting XRP. The source pointes out some kay factors which may indicate the future adoption of Ripple which include:

  • First of all the banks already have singled out bitcoin’s payments inefficiencies which means the coin will not be used for them for sure.
  • There are very few other alternatives that have the capacity to give operational efficiency better than Ripple (XRP).
  • In addition a central bank would go for a cryptocurrency that has wide acceptance by banks all across the world due to the need to engage with other banks across the world for macro-stability purposes.

The source also claims, that the only other crypto that would be able to provide similar quality and opportunities as Ripple on this front is Stellar. The two cryptos similarly are focused on the banking industry with number of partnerships with several central banks around the world.

Meanwhile as of now it is hardly possible to say for sure which cryptocurrency is going to be chosen by the central banks of the two countries. In any case it is more than clear that digital currencies are growing in adoption. The important fact that the central banks of major economies are taking interest in the blockchain technology and considering adoption of cryptos is a great sign to predict that the new technology will be having a major influence on worldwide finance and economies.

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