Ripple CEO Brad Garlighouse is often vocal about connecting banks with the blockchain solutions. In his latest tweet, he mentioned how crucial Blockchian technology for commerce is. He confidently asserted to the NewYork Post, writing that ‘Blockchain technology could prove to be as important to commerce as email and text messaging were to communications’ intending the financial system if built with blockchain will help connect global people to access banking services.
“Blockchain…could prove to be as important to commerce as email and text messaging were to communications. New financial systems built on it could help connect people around the world who lack access to traditional banking services.” https://t.co/mHeXiSRLaQ
— Brad Garlinghouse (@bgarlinghouse) December 19, 2018
However, a day back when Twitter enthusiasts were busy talking about the usage of xRapid and the regulatory stance on XRP as a security, they did mentioned Brad to speak on the matter. However, his latest tweet is quite remarking the point.
Digital Currency Reserve For America and Financial Revolutions
He pointed the post that described ‘digital financial revolutions’ would result in ‘significant opportunities for employment and economic development. It is quite interesting to note that the article was posted on The New York Times which was enclosed by Brian Brooks, the chief legal officer of Coinbase, a cryptocurrency exchange. The article which was entitled ‘America Could Lead the Transition to a Digital Currency Reserve” mainly focused on the declining value of US dollar as the ‘world’s reserve currency’ which paved the ways for the ‘creation of Digital Reserve Currency’. Brian in his post encouraged developers of crypto projects by relating to the entrepreneurs. It notes that;
These innovations could be leveraged by developers in much the same way as entrepreneurs built web services on the internet — from eBay to Facebook — with the same enormous impact on the American economy.
As coingape reported that most central banks are issuing their own digital currencies including China, Swedan, Brain notes America to kick start with the research paper to adopt cryptocurrency mechanism.
And if it does, it could ultimately build dominant cryptocurrency technologies that become the backbone of the 21st Century financial system., the statement reads.
This development would widely used in a scenario where America would experience a major fluctuations in financial industry. Moreover, it would help farmer to deal with foreign clients in terms of cryptocurrency rather than in friction of foreign exchange.
And its development agencies, like U.S.A.I.D., could “airdrop” cryptocurrencies to hard-hit regions of the world that lack access to banking infrastructure.
Tabassum is a full-time content writer at Coingape. Her passion lies in writing and delivering apt information to users. Currently, she does not hold any form of cryptocurrencies. Follow her on Twitter at @Tabassumnaiz and reach out to her at Tabassum[at]coingape.com