Following the lock down, there is an increase in the demand for digital technology, particularly for digital payments. Consumers are looking at accessible payment solutions.
Warren Paul Anderson tweeted: “Crypto is at the heart of a sustainable future for global finance, but not all assets are created equal. My thoughts on the eco-credentials of XRP and the environmental benefits of a consensus mechanism based on distributed agreement below.”
In the process of operating while moving forward, the tools and infrastructure required to drive real sustainable outcomes are important. Global finance is heading towards everything digital and it is very clear that Fintech, cryptocurrency and blockchain technology will be able to ensure that the future is a sustainable one.
Sydney Ifergan, the crypto expert tweeted: “Cash that is environment friendly is what I think is important. The energy footprints make a difference between the different crypto. Ripple XRP therefore are striving to be green by design. “
The eco-credentials are well proven and very obviously, it has got what it takes for the sustainability factor of a digital payment system.
RippleNet and XRP are working to ensure interoperability between Central bank digital currencies (CBDCs). Ripple opines that open protocols and the creation of standards are important for interoperability of CBDCs from across the world.
A Networked system of CBDCs is very important. All are in agreement with it. They are now prospecting on when and not on whether it should. The attitude of Central banks towards digital assets has also shifted.
Several governments who considered digital assets as a threat are now looking at it as a necessity. Ripple Net are now focused on coming up with a network-of-networks to eventually improve on the benefits of individual CBDCs.
Ripple (XRP) Bridge Assets
Ripple (XRP) considers Bridge Assets as a solution to creating a process for smooth exchange of values between different CBDCs.
Brad Garlinghouse previously stated, “Over 70% of the central banks around the world are looking at deploying CBDCs – and one thing that’s crystal clear is the importance of interoperability. If you’re not prioritizing this, you’re just rebuilding the same siloed system.”
XRP is quick and it is less expensive. It is very much scalable when compared to any other digital asset, thus making it an ideal instrument in the process of bridging two different currencies in a quick and efficient manner.
An efficient digital asset like XRP, which is neutral will help bring down the dominant influences of the most powerful nations, which will eventually help in leveling the playing field facilitating the payment system for international trade.