Chris Larsen, the Co-Founder of Ripple Labs Inc. recently gave a speech at CFCon USA 2018, during which he discussed list of aspects and future developments of blockchain technology industry and Ripple. In addition, Larsen also spoke about globalization and interoperability.
While sharing his ideas about globalization, Larsen stated that “there was no future for the world unless it was more global or interoperating on an international basis… Money was one of the key factors for globalization. However, in the present scenario, globalization was not possible with the existing banking infrastructure…”
Larsen also expressed his belief in the new technology of blockchain which can be there to become the “container through which globalization can be achieved… In a broader sense, it was about the creation of Internet of Value and not just blockchains and digital assets”.
The Co-founder also highlighted the features of being open source, decentralized, and secure as the main requirements from any blockchain in an appropriate desirable. Here he went on speaking about Ripple as well. “We are betting XRP ledger and XRP as the digital asset of choice where we are talking about the blockchain component of this internet of value. XRP clearly has, among the majors, the lowest transaction costs. It is the fastest, about three seconds to settle, and it has the highest throughput of the major blockchains”, stated Larsen.
He also spoke about their important product of xRapid which functions on RippleNet. According to the Co-founder, Ripple’s new product allows the providers of payment systems to have lower costs of liquidity for global payments. “It’s a protocol that’s been underway for many many years. It is a completely open protocol, as decentralized as you can possibly get. There’s a group called the ‘W3C’ that is helping with the standard around the protocol. There are almost 300 organizations that are contributors to it. So our bet is that this is going to be a successful interoperability protocol, a key component of this internet of value”, concluded Larsen on the topic.