The Japan Blockchain Conference, held on 27th of June in Japan, was the most prominent cryptocurrency and blockchain conference, in which Yoshita Kitao, the chairman of SBI Holdings and CEO of SBI Group was all positive regarding the long-term growth of Ripple blockchain network.
XRP Soon To Be The Global Standard Currency
Kitao, a local cryptocurrency analyst at CryptoEri, acclaimed that XRP cryptocurrency which belongs to the Ripple blockchain network has the potential to a maximum global financial system. It even has the capabilities to evolve as the global standard of currency and cryptocurrency.
There is much hope from the XRP as the next global standard and create a more efficient world. The Japan Blockchain Conference is the largest conference in Japan that acknowledges about cryptocurrency market, including various projects, regulations, emerging solutions, growth, and investment. More than 10 thousand individuals attended the conference, partnered with some of the biggest names from the financial conglomerates like the SBI Group and Nasdaq, Charles Hoskinson, creator of Ethereum and Cardano as well as Bitcoin.com CEO Roger Ver as two of the high profile entrepreneurs in the blockchain sector.
Yoshitaka Kitao has claimed that with the help of XRP, the creation of a more efficient ecosystem along with such a platform which can provide the benefit of setting cross-border payments with minimal fees and short processing periods have already been started.
Drawing Force Towards Ripple
In January 2016, before the huge rally of XRP, resulted in surpassing its market value to $50 billion and building an active community, SBI Holdings displayed its firm belief in the abilities of Ripple to target the old conventional finance industry with products based on blockchain technology by starting a multinational deal, ahead of any other bank in Asia and the US.
It was believed that XRP has the solution to optimize bank operations and transactions. As per the survey, done on the Ripple market, it was the only company that has provided solutions and global bank customer traction, that includes commercial deals with top banks already signed in the Asia Pacific. The distributed financial technology is undoubtedly changing the economic structure and has been adopted in Asia.
Ripple has been selected to conduct cross-border transactions, and SBI Holdings has led other regional banks and financial institutions in South Korea in their commercial banks including the largest ones too. The testing of Ripple’s blockchain related solutions which was started in the late 2017 and early 2018 has gained more popularity now.