Ripple to launch Infrastructure Innovation Initiative
Building the internet of value
Blockchain solutions company Ripple is establishing an “Infrastructure Innovation Initiative” to take “the next logical step to help build the internet of value”, reports Julie Muhn at Finovate (Banking Technology‘s sister company).
The goal of the initiative is to help central banks, regulators, and market infrastructures pilot real-world blockchain solutions by leveraging the Ripple team’s expertise in payment systems and distributed ledger technology (DLT). Potential blockchain solutions include creating regional networks, reducing the cost of payments and opening up networks to new participants while managing risks.
Dilip Rao, who is in charge of Ripple’s business development in the APAC and MENA regions, will lead the initiative. Rao has worked for Ripple since 2014 and brings more than 30 years of experience working with banking technology.
“My first priority will be piloting interoperability between payment systems, the use of DLT for domestic clearing and settlement and novel applications of xCurrent as well as our digital asset XRP,” Rao says. “I look forward to exciting new initiatives in building the internet of value in 2018!”
Last month, Ripple teamed with Amrican Express and Santander to support blockchain-powered international B2B payments. Earlier this month, the company’s XRP digital currency overtook Bitcoin Cash as the third largest cryptocurrency.
