Is Ripple’s XRP the Technology That Will Change the Game in the European Economy? Lagarde believes that a certain unnamed financial technology is just what the EU needs to reshape its economy following the Ripple effect of the Coronavirus pandemic.
He believes that this tech will also ensure stability in the future. Lagarde’s comment came in response to a post by Ursula von der Leyen the CEO of the European Commission. Both parties exchanged opinions about how the EU economy can recover and improve in case of a similar crisis in the future. Lagarde said that the payment technology that will stand out has to be one that is fast, secure, digital, and environmentally friendly. He also said that this technology will be supported by state-of-the-art payments and a union of capital markets and banks.
Several members of the XRP community joined the Twitter trend claiming that XRP meets the described criteria. The CEO of Ripple, Brad Garlinghouse, also got interested in the conversation and shared the original post by Lagarde. One member of the XRP community said that Lagarde may have been hinting that the Central Bank has set sights on the XRP token. So, XRP might play a key role in the future of financial technology in Europe.
He also said that sharing the tweet might be Garlinghouse’s way of telling the community that Lagarde was talking about XRP. Nothing has been confirmed yet and it’s all just speculations.
In other news, the CTO of Ripple, David Schwartz, recently referred to the XRP token as an inherently green currency. The blog post stated that XRP is premined and doesn’t require the proof-of-work consensus mechanism like Bitcoin and Ethereum. Everyone knows that the amount of electricity required to line Bitcoin is enough to run a small country. So, it is certainly not an environmentally friendly alternative to fiat.
Ufuoma Ogono is a cryptocurrency writer with over 3 years experience in the cryptocurrency industry. She dedicates her time to sharing valuable information to members of the cryptocurrency community.
- Christine Lagarde’s Vision for Europe and the Ripple XRP Token – What Role Will the Token Play?
- Technology is Critical in the Development of Future EU and XRP Might Just be What is Needed to Spice of the Financial Sector
- XRP is Inherently Green Currency According to Ripple’s CTO
Ripple’s goal has been the same from the start; revolutionizing the global financial system and providing cheap, and fast, alternatives to traditional remittance. Ripple already has the technology it needs to make this dream a reality. The only thing left is gaining global adoption.
Most of their products rely on partnerships with existing financial institutions but many of these institutions don’t trust Ripple.
The good thing is that they’ve gotten a lot of recognition from industry leaders. The CEO of the EU central bank recently talked about a FinTech product that will be integral in the future development of Europe. While he didn’t call the technology XRP, there have been some speculations that the technology in question is Ripple’s XRP.
