Cryptocurrency

Jumps Ripple on the DeFi Trend? CTO Schwartz talks about the next 5 years

Decentralized Finance (DeFi) is so far mainly associated with Ethereum in the minds of many Crypto-Fans. Just in the last few weeks of interesting developments, see, for example, by the Compound were here. This DeFi does not have to be only with the ETH, because of the decentralized financial applications can be implemented in theory also on other block chains. In connection with the Ripple you have heard here a little. In a new Interview with the CTO of the company speaks about the possible developments in the next 5 years and also sees Potential for DeFi in the Ripple network.

Ripple soon with the Defined Services for banks?

In an Interview with block down TV David Schwartz, the CTO of the company Ripple was recently asked where he sees the network of banks and financial institutions of the company in five years. David Schwartz says, the Startup from San Francisco was investigating whether it should offer its institutional partners, decentralised financial services (DeFi).

The CTO, which is one of the most important architects of the XRP Ledger, hopes that the RippleNet can be a One-Stop-Shop and is the first choice for institutions that want to make many different types of payments.

We also check whether we are able to offer over RippleNet other services – things like loans, or maybe, if DeFi is growing, the supply of Defined services for institutional partners.

One of the unique things that has a Ripple, is that we have our Software in the transaction flow of all of these financial institutions and banks so that we can develop some new products or services, or even something that comes from the DeFi area, and we can offer it directly in the transaction flow of these institutions.

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Not the first note of the company to DeFi efforts

The comments of Schwartz is not the first note on Ripples of interest in DeFi. Last year, the company announced that it had acquired Logos, a Start-Up for turnkey payments,

to conduct an ongoing Initiative for the study of a decentralized financial system, the XRP at its core, is use.

Ripple has also given up job ads on the interest of the company in the establishment of a “trading platform of the next Generation” clues. Ripple would like to integrate the platform in its XRP-based solution for cross-border payments, the On-Demand Liquidity,. Whether such a platform will include DeFi, remains to be seen.

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About the author

Eve Manning

Eve Manning

A native Texan, Eve first started out as a Finance Analyst and later realized that her true passion was not in trading but in writing. She leverages her experience in the Finance industry to analyse and write in-depth news articles covering the Cryptocurrencies, Economy & Finance industries.

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