The global pandemic has forced companies and workers in all industries to prepare for one of the most challenging and sudden waves of uncertainty. Technology, empathy, and Ripple’s collective mission enable our global employees to stay connected, productive, and secure. As the company moves towards a new normal together, this episode of the Ripple Drop examines the business and personal implications from the perspective of Ripple’s senior management.
Digital payments will win
Digital payments are playing an increasingly important role as consumer behavior is shifting towards a contactless exchange medium. Brad Garlinghouse, CEO of Ripple, explains why digital-first industry players are poised to step heavily into a post-COVID world. “With global payments, this digital process enables people to instantly send money to loved ones around the world – a bigger need, more than ever,” says Garlinghouse.
Several publicly traded companies, including Western Union and MoneyGram International, have seen digital payments grow by up to 40%. Ripple customers in particular are seeing the immediate benefits of RippleNet’s On-Demand Liquidity Service (ODL) and reducing the volatility problems caused by pre-funding international accounts through the use of XRP for digital assets – freeing up capital and guaranteeing the most competitive interest rates . Additionally, central banks are looking at the benefits of digital currency as a way to distribute and track government aid.
The XRP ledger supports remote teams
Ripple’s CTO and host of Ripple’s new Block Stars podcast, David Schwartz, explains how the inherent decentralization benefits of the XRP Ledger (XRPL) uniquely position it for today’s growing remote workforce.
“The XRPL is a free, open source and decentralized technology, ie anyone can develop and use it further. Because of this, more and more remote workers today can download and run an XRP ledger validator from anywhere, ”says Schwartz. “To make the contribution to the XRPL even easier and more collaborative, Xpring – Ripple ‘s developer arm offers tools for developers who build on the core book.”
Adapting to a new reality together
COVID-19 profoundly disrupts the lives of almost everyone. Asheesh Birla, SVP of Product, reports on how Ripplers come together and support themselves and our 300+ customers during this difficult time.
“Ripple makes sure we have empathy for the challenges our customers are going through. We have seen new types of product features that we could potentially develop to solve major problems for our customers that are expected to increase now with the pandemic, ”explains Birla. “If we listen to our customers’ urgent needs and understand them, we can develop better solutions.”
This is not the year 2020 anyone expected – but it is encouraging to see employees, communities and industries come together to help as we all move back to the new normal. Make sure to check out more Ripple Drop episodes on YouTube, as well as the latest news from Ripple.