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World Bank Wants To Hear About Ripple’s Faster And Cheaper Remittance Service

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World Bank Wants To Hear About Ripple’s Faster And Cheaper Remittance Service

KNOMAD, the Global Knowledge Partnership on Migration and Development, and World Bank’s Migration and Remittances Unit in Social Protection and Jobs Global Practice, are eager to know about the Distributed Ledger Technology (DLT), an innovation used by Ripple, a San Francisco based startup having the intention of helping banks solve remittance problems.

The two bodies have therefore invited Dilip Rao, Global Head of Infrastructure Innovation at Ripple, as speaker during the KNOMAD Seminar that is to be held on Thursday, November 29, 2018 at the World Bank Main Building in Washington DC.

The seminar will focus on how DLT is upending the way money is moved across borders today, a letter released by KNOMAD has indicated.

However, KNOMAD stated that the speaker, Dilip, will present the qualities of DLT that solve for fundamental paint points such as cost, speed, and transparency.

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Different firms and financial bodies are getting interested in Ripple. Reliable firms across the globe have deployed Ripple’s remittance tools like xCurrent and xVia, and now fintech companies are deploying xRapid, a remittance tool that survives on XRP.

XRP Maintains 2nd Position, Drives Close To Bitcoin

XRP has maintained the 2nd position in the cryptocurrency space. This is the longest period since 2016.

On November 15, Ripple’s XRP market capitalization reached around $19 billion USD, moving ahead of Ethereum that has long been in that position.

It is now 11 days that XRP has been on that position, the longest time since it maintained the 2nd place for 13 days from Jan. 26 to Feb. 8 in 2016.

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In the same line, XRP dominance rate reached 45-week high of 12.74 on Nov. 20, dropping to a little bit to 11 percent.

Despite the fact that most altcoins are suffering due to the present crypto market woes, XRP still tries to maintain its position.

Isaac is currently taking his degree in journalism. His interest varies from Entertainment, Current Events, and Business Monetization. In his early years in the writing industry, he joined different online publication as a contributing writer. Today, he is now a full-time contributor to TODAY'S GAZETTE.

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