Ripple enthusiasts are well aware of what this technology is capable of. There’s a good reason why so many banks around the world are experimenting with this blockchain. It is evident Ripple can help banks provide a better service and reduce fees at the same time. SBI Holdings CEO Yoshitaka Kitao recently confirmed as much in his earnings call.
SBI Holdings has been experimenting with Ripple technology for some time now. The Japanese firm feels this blockchain will be of great value to them in the years to come. During the 2017 earnings call, the institution presented some positive numbers. Albeit the revenue only went up by 0.1%, the volume is a record high in company history. However, they also paid close attention to their efforts involved Ripple.
SBI Holdings Envisions a Grant Future for Ripple and XRP
More specifically, SBI Holdings wants to focus on fintech moving forward. To do so, they established SBI Ripple Asia and bought Ripple shares a while ago. The company also launched SBI Virtual Currencies in November of 2016. It is evident financial technology is one of the top priorities of the firm right now. Focusing on blockchain is the smart decision at this moment in history.
There is a good reason as to why SBI Holdings is focusing its attention on Ripple, rather than other blockchain service providers. The company feels Ripple is on the right track to become the global blockchain standard for blockchain technology in the financial sector. However, SBI Holdings are keeping all options open by still paying close attention to R3’s Corda as well. Since Ripple is gaining a lot of traction in the banking sector, it is in a better position to succeed, though.
Moreover, the financial institution also hints at using XRP in the future. Ripple’s native asset can help the bank save a lot of money in the process. By combining the Ripple blockchain and XRP, banks can save costs by 60% at the minimum. That is quite a significant amount for any financial institution in the world today.It goes to show Ripple certainly has its role to play in the future of banking. What that future may hold, remains anybody’s guess at this point, though.
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