The biggest Bank- targeted blockchain protocol ripple (XRP) is endeavoring to take over 50% of India’s finance area through processing payments with low fees and well-organized systems.
At Digital Disruption in Fintech conference, the vice president of Ripple Mr. Asheesh Birla gives the statement that the company envisions surpassing the adoption rate of bitcoin to certify XRP becomes the Influential digital currency in the zone.
Recently, one XRP price about $0.44 of July 12, XRP was valued at over $3.00. Mr. Asheesh Birla disclosed that ripple has the plan to give away 2 billion XRP to the Indian population, he also reveals the concept behind giveaway the 2 billion XRP, to introduce XRP to the nation and encourage the usage of the cryptocurrency encourage the usage of the cryptocurrency.
(Statement of Mr. Asheesh Birla in Fintech Conference)
“We looked early on at India, and we looked at two billion people – a huge market. And we decided, how do you get two billion people onto Ripple? Do we give the currency away to every Indian, that’s like two billion – just give it away?”
Two billion XRP at a rate of $0.44 would cost around $880 million, and based on the all-time high price of XRP, which could be achieved once again in the next rally of the cryptocurrency market, two billion XRP tokens could easily be worth roughly $7 billion.
Ripple (XRP) considered giving away almost $880 million and possibly billions to the Indian population, to secure the Indian finance department and provide financial support. Is any difficulty involving the process of dispense XRP to people in the region and the cost involved. Birla said, that the company decided to protected strategy partnership with the country’s largest banks instead.
If ripple succeeds in to build a network of banks and billions of separate people in India, the liquidity network of the ripple blockchain-based xrapid and Xcurrent could be more valuable and most significant, more well-organized banking systems.