XRP, the community led cryptocurrency
and the birthchild of Ripple, could be about to find a new home in Dubai.
Okay, this is obviously speculation based, but rumour has it, an event in Dubai, set for next week, has been set up to discuss the implications of Ripples xCurrent and RippleNet, across a 100-member network of banks.
Within this network, we can only expect that the topic of Ripple XRP will come to play. After all, XRP is Ripples flagship product.
What’s been said? According to the Ripple website:
“The decentralized network of banks across the world is over 100 strong. Next week in Dubai, members of the network will meet to forge new connections and discuss how they use Ripple technology — sharing lessons learned and best practices.”
“For regional banks, events like these provide a critical opportunity to create relationships that open new remittance corridors. Together with new technology, these relationships level the playing field for regional banks — they can now overcome both the cost and risk associated with the traditional correspondent banking model and better service their customers’ needs.”
See more for yourself, here-
What could this mean?
Assuming this network of banks are coming together with the view to fully integrate Ripple technologies, they will join an army of companies all set in Ripples crosshairs for an eventual roll out of XRP as a viable currency
. Along with the glitz and glamour of an association with Dubai, comes the real financial banking from institutional investors based there. I suppose it could be a win win situation.
As stated, this is speculation based. Nothing will happen straight away and of course, we can’t guarantee that anything good will come of this, it could turn out that they all hate the idea of XRP.
A little speculation however can go a long way, perhaps at the very least, something positive may come from this meeting.