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Ripple Dominating Indian Market with 50% Control; Owns 60% of XRP

Ripple Dominating Indian Market with 50% Control; Owns 60% of XRP

Ripple’s blockchain technology has taken a huge userbase in India. In fact, Ripple’s Senior VP of Product Asheesh Birla spoke about Ripple’s desire to dominate the market in India and then expand from there. At a panel on Scaling and Digital Disruption in Fintech, Birla states that Ripple owns 60% of the total supply of XRP and also got financial institutions in India to adopt early in RippleNet- its network o banks and providers that are powered by Ripple’s blockchain tech to process payments.

Birla states that ripple has grown dramatically and is now forming new partnerships with more than one deal worldwide per week, which Birla is very impressed with:

“We made a really smart decision to say ‘Let’s get real. Let’s build a real business.’ And that was a hard decision. Because, listen, Facebook went public in like three or four years. But working with banks, sorry, it’s a pain in the ass. But it’s paying off now for us at Ripple. And that took two to three years for us to build the products, get them out to banks.

Now, in 2018, we’re now selling our product to banks and we’re closing over a deal per week, which is just incredible for a company like ours. Where the entire inertia was ‘disrupt banks,’ we’re going in and working with them.”

Birla also says that blockchain and crypto are still very early in the lifecycle and still in their infancy, and Ripple is going to help shape the future of them:

“A couple of things that we realized early on was that blockchain and cryptocurrencies are so new, that you have two choices in this industry. You can have the story written about you, or you can go out and create the story and own the narrative.”

If anything, Birla is confident and making some very idea goals for Ripple. This is good for any HODLers as Ripple has been pretty quiet about their works in the past few months. This is a welcome announcement and just what some bulls needed to keep on trampling.

 

Long-time reader of crypto. One of the first graduating classes of Blockchain and Future Trends. Writer, journalist, and newbie technical analysis price speculator. Learning about the development of cryptocurrency and blockchain technology around the world is my job. ICOs, whitepapers, and cryptoculture are my things.

Disclaimer: Our authors may hold active positions in one or multiple cryptocurrencies discussed on this news portal. Opinions expressed at AWSMO are NOT investment advice and any investment in one or more cryptocurrencies may be high-risk and extremely volatile. Please due your due diligence before making any investments in any cryptocurrency. Your investments are your own risk and you assume full responsibility for your actions.

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