“Money itself IS changing”: Ripple CEO & IMF Chief
The Chief Executive Officer of Ripple, Brad Garlinghouse, recently responded to IMF Chief Christine Lagarde’s statement, “Money itself is changing”.
While stating about new payment technologies, cryptocurrencies, changing global financial system, Lagarde stated that “money itself is changing”. Reportedly, Lagarde also raised a number of other questions, “Beyond regulation, should the state remain an active player in the market for money? Should it fill the void left by the retreat of cash?”
Garlinghouse, in a recent tweet, agreed to Lagarde’s statement and highlighted that cryptocurrency will help in solving not only the financial inclusion problems but also current global payment system which is fractured.
In his words, “@Lagarde is absolutely correct: Money itself IS changing. Digital assets not only help to solve the financial inclusion problem, but also the very real issue of a fractured global payments system – it just makes sense that Central Banks would lean in.”
It makes sense as the leading blockchain firm’s one of the major mission is to solve financial inclusion problem on a global level. Ripple is also taking steps towards the adoption of its RippleNet products.
The firm has also set up academic back up and research centers to explore the use cases of the blockchain technology. In an attempt to do so, the company collaborated with many universities like UC Berkeley as a part of their initiative known as University Blockchain Research Initiative [UBRI].
In an interesting move, one of the leading remittance firms in the United Arab Emirates (UAE), Finablr’s UAE Exchange has entered into a strategic partnership with Ripple to facilitate cross-border remittances in Asia based on the blockchain. It aims to start its operations by the first quarter of 2019, as per a report by Reuters.
Apart from this, the firm is also doing good on social front as it has started its own initiative called “Ripple for Good”. Reportedly, the firm has doled out around $80 million in donations in 2018 alone.
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