Cory Johnson, the Chief Market Strategist at Ripple, talked at the Techonomy 2018 conference about the vast subject of crypto space.
Techonomy 2018 took place between November 11 and November 13 and it “was a probing, wide-ranging conversation about the tech-inflected issues that affect business and our world. This year’s theme was Harnessing Tech for Responsible Growth, and as always we addressed many of the issues facing leaders today,” according to the official conference report.
Cory Johnson addresses Ripple
He said that Ripple is one of the most advanced companies in the entire blockchain market.
They have been working during the past years to develop various products and services for financial institutions and banks as well.
Johnson talked about the blockchain ecosystem and cryptos, and he also gave his thoughts about business working with DLT and Bitcoin’s challenges.
He said that Ripple began to build the Internet of Value and that they are trying to solve money transfer-related issues.
He said that he wants money to be sent in a similar way in which messages and information are sent.
“We’ve got around a 100 paying customers, we’ve moved over a billion dollars on the network, and we’re opening new corridors. When I joined the company, around nine months ago, they were doing one deal in 6 weeks. Now it’s six days.”
XRP vs. Bitcoin
Johnson said that the company added more 150 new employees in under a year and then he compared the digital asset XRP to Bitcoin.
He said that when they developed XRP, they were actually trying to create a Bitcoin 2.0. They added privacy on transactions and solved the scalability issue that Bitcoin is faced with at the moment.
“The guys who made XRP, they looked at the white paper that Satoshi wrote about Bitcoin and said ‘this is amazing,’” said Johnson.
He continued and explained that “This could be reasonable at scale but what would the problems be. There might be problems about needing total openness in every transaction.”
More and more institutions are using XRP, and the number is expected to grow in the future massively.