Ripple working to explore new use cases for its network, making it the Amazon of the cryptocurrency world

By Selena On Aug 13, 2020

The currently most controversial network blockchain company in the market – Ripple – is now planning to expand into more applications beyond streamlining cross-border payments through partnerships of national and international banks.

Ripple attempts to explore new applications for its blockchain network

For the past five years, after Brad Garlinghouse operated at Ripple as CEO, the company focused its efforts on cross-border payments only. Therefore, at present, despite its unprecedented success as a software solutions provider for financial institutions, Ripple seems to have realized that the company’s core value lies in XRP and Blockchain Ripple.

While the company primarily works with banks and directly sponsors millions of dollars to blockchain and crypto startups, Ripple is currently taking a step back and revising its growth strategy.

As reported by the Financial Times, Ethan Bear, Ripple’s head of development efforts, said:

“Ripple is moving from checking to coding.”

This sentence also implies that the company is planning to promote the creation of new applications on the Ripple network.

Then, to show an optimistic spirit about their intentions to make their blockchain more valuable, Garlinghouse said it wanted to make Ripple the Amazon of the crypto world:

“Amazon started as a bookseller and just sold books. We happen to have started with payments. Two years from now, you’re going to find that Ripple is to payments as Amazon was to books.”

The report also mentions that Ripple is working on developer tools to help create blockchain-based applications that explore new use cases on the Ripple network. The company announced its open-source developer platform in October 2019, but before that, it was only for finance-related applications.

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