Today’s newsletter is a little different. I’m going to lay out the case for why you should be buying XRP, Ripple’s (the company) “it’s not a currency” token of exchange.
I’ve laid out what Ripple and XRP are in a prior newsletter
–if you’re not familiar with them but you want to be, I suggest reading that BEFORE continuing on with this.
Ripple the company is likely one of the best-run, if not THE best-run company in the crypto/finance space. They have the finest management staff, their CEO is whip-smart and driven, their technology officers are brilliant and all of them are engaged in a multi-pronged approaches to increase user engagement, financial industry ties, solid partnerships, and of course, speeding adoption.
Don’t believe me? Check out profiles on Brad Garlinghouse, Chris Larsen, David Schwartz, Stefan Thomas, Corby Johnson, Eric van Miltenburg, and Patrick Griffin, to name a few of the luminaries in their stable. These people know what they’re doing. They have a long-range vision and are intensely focused on achieving that in their own timeline, not an arbitrary timeline forced on them by investors, shareholders, or even XRP hodlers desperate for a price rise.
That hoped-for price rise will happen, but this is not a plan that comes to fruition in a matter of months. This is years, even decades-long planning, an approach other US-based companies need to adopt if they want to continue to excel and dominate on the world market.
Here’s CEO Brad Garlinghouse on Ripple’s vision and apt comparison to Amazon, back in April 2015:
Amazon started as a bookseller. They built a model around selling books. And then they said we’re going to do electronics. I think the same thing applies here. If we’re going to have a chance at the 10-year vision, we’ve gotta make sure the 10-month vision takes hold first.
Ripple has also taken a “regulation-first” approach to their tech. By that I mean, they foresaw the need and inevitability of cryptocurrency regulations, and built their company and technology around that premise. As a result, their Interledger protocol, XRP token, and myriad products are all industry-ready.
This in turn aids and speeds adoption by outside vendors, especially the large banks and financial entities who are typically reluctant to move into new channels due to regulatory constraints. Where other cryptocurrencies are foundering in the waters of uncertainty (Is it a security? A utility? How will it be judged by the SEC? The IRS?) Ripple has adhered to existing regulations while simultaneously broaching new, battle-tested tech–called XCurrent–that fuses seamlessly with legacy financial asset exchange instruments, at a 30% savings.
More adventurous companies can take that a step further by fully merging their asset exchange program into XRapid, which provides an additional 30% savings on top of the XCurrent technology. It is XRapid which utilizes XRP tokens to facilitate cross-border currency exchanges.
It will be the widespread adoption of XRapid by the financial industry that will be the algae bloom on the pond that is Ripple.
Why will this happen?
Three things: Speed, Convenience, and Low Cost