The global pandemic forced businesses and workers across all industries to adapt to one of the most challenging and sudden waves of uncertainty. Technology, empathy and Ripple’s collective mission are enabling our global workforce to remain connected, productive and safe. As the company transitions to a new normal together, this episode of the Ripple Drop examines the business and personal impact from the perspective of Ripple’s executive leadership.
Digital Payments Will Win
Digital payments are playing an increasingly critical role as consumer behavior shifts toward a contactless medium of exchange. Ripple CEO Brad Garlinghouse explains why digital-first industry players are poised to strongly step into a post-COVID world. “In global payments, this digital process enables people to send money to loved ones around the world, instantly—a greater need, now more than ever,” says Garlinghouse.
Several public companies, including Western Union and MoneyGram International, are seeing an increase in digital payments—as much as 40%. Ripple customers, specifically, are seeing the immediate benefits of RippleNet’s On-Demand Liquidity (ODL) service and alleviating volatility challenges caused by pre-funding international accounts by leveraging the digital asset XRP—freeing up capital and guaranteeing the most competitive rates. What’s more, central banks are considering the benefits of digital currency as a way to distribute and track government assistance.
The XRP Ledger Supports Remote Teams
Ripple’s CTO and host of Ripple’s new Block Stars podcast David Schwartz discusses how the inherent decentralization benefits of the XRP Ledger (XRPL) make it uniquely positioned for today’s increasing remote workforce.
“The XRPL is a free, open-source and decentralized technology—meaning anyone can develop on and use it. This nature allows today’s increasing remote workforce to download and run an XRP Ledger validator from anywhere,” says Schwartz. “To make contributing to the XRPL even more simple and collaborative, Xpring—Ripple’s developer arm—provides tools for developers who are building on the core ledger.”
Adapting to a New Reality, Together
COVID-19 is disrupting the lives of nearly everyone, everywhere in profound ways. SVP of Product, Asheesh Birla, shares how Ripplers are coming together and supporting each other and our over 300 customers during this difficult time.
“Ripple is ensuring that we have empathy for the challenges our customers are going through. We’ve seen new types of product features that we could potentially build that solve big problems for our customers that are expected to increase now with the pandemic,” explains Birla. “Listening and understanding the urgent needs of our customers helps us develop better solutions.”
This isn’t the 2020 anyone expected—but it’s encouraging to see employees, communities and industries come together to help as we all transition to the new normal. Be sure to catch more Ripple Drop episodes on YouTube along with all the latest from Ripple.