Ripple Employees Share How they Got to Ripple
In a recent video, Ripple employees shared how they ended up in Ripple.
— Ripple (@Ripple) September 17, 2018
The video starts off with employees telling the audience about where they had worked before and then moves on to how welcoming Ripple was. An employee said that the company didn’t care about how much she knew about cryptocurrencies but instead focused on what she brought to the table.
Another employee said:
“When you look around the space, you will see Ripple stand out above the rest. The bet that we’re making here is just too big, too exciting, too interesting to say no to. I’m super excited to be here and this place is just game-buster. It’s awesome!”
Yet another employee praised Ripple and talked about how it is unique because of its mission, which is to create an internet of value, and also its step by step removal of friction from cross-border payments, and also how this has a dramatic effect on the lives of people who use it.
Keeping the spirit of innovation alive, the company is planning to launch xRapid soon. Sagar Sarbhai, Ripple’s head of regulatory relations for Asia-Pacific and the Middle East, said that the company would launch the product “the next month or so”. Introducing the product, he said:
“[xRapid] uses a digital asset called XRP and that really is a mechanism to source liquidity in real-time. We’ve been working on this project for the past two to three years and I think I’m very confident that in the next month or so, you will see some good news coming in and we’ll launch the product live in production”
The banks have been reluctant to use the product thus far. When asked whether it was because of regulations, he said:
“Maybe that was the case a year ago, but things are changing now. For example, countries like Thailand—they have come up with really sophisticated crypto frameworks to help figure this innovation where banks and financial institutions, payment providers can then leverage the power of digital assets for payments. We are standing here in Abu Dhabi; ADGM came up with a very sophisticated framework to boost institutional participation where financial institutions and payment providers can use digital assets like XRP for their liquidity needs. So I think that narrative is now changing. Of course, there are countries which are sitting on the fence and looking at how things are going, but I think it’s all positive and I will see more and more banks and payment providers start using the digital assets.”
When asked about whether he is worried about how the cryptocurrency XRP can be classified as a token—especially in the US, he said:
“As far as the US is concerned, I think that it is ultimately the SEC that will decide. We continue to engage with the SEC, educating them about our use case, about what XRP does. We do believe that XRP is not a security and there are multiple facts behind why we believe so. So number one, if an investor buys XRP, you do not get a stake in the company. You do not get any dividends paid out from Ripple the company. That’s number one. Number two, Ripple and XRP are two different things. So tomorrow, let’s say, for whatever reason, Ripple the company goes away, XRP ledger will still stay. XRP ledger is open source—anyone can use it. You and I can use it. Number three, XRP ledger uses a consensus mechanism where there is a need for validators. Now, again, it’s an open-source software, anyone can download it and Ripple the company—so there are around 150 validators today, out of which Ripple the company only owns around 10, which is around 7 percent. So, we do believe that XRP is not a security. Having said that, it is really up to the SEC to decide what they will. But that being said again, we are not seeing that layout in other parts of the world. Thailand, for example, came with a new asset class called digital assets and they said that XRP would be one of the seven digital assets to be allowed to be traded. Similarly in Australia, in the Phillipines—most of these countries have actually said that XRP and other digital assets are either commodities or a cryptocurrency. ADGM also classified XRP, among other cryptocurrencies, as a commodity. So we are not really worried, to be honest.”