In this Summer 2021 edition of Ripple Drop, we explore how the XRP ledger is supporting NFT innovation, Ripple’s efforts to create a more inclusive work environment, and the APAC region as a growth engine.
XRP Ledger unleashes the full potential of NFTs
David Schwartz, CTO of Ripple, shares the latest on the red-hot NFT trend and why the XRP ledger is ideal for building NFTs even further.
While collectibles are the biggest NFT use case today, David suggests we just scratch the surface. He envisions a future in which NFTs form the basis of all digital rights management, even one in which consumers could move away from services like Kindle or Apple to directly own the rights to books and movies they buy.
David believes the XRP ledger offers a unique combination of low cost, high speed, and good payment features that are required to streamline large-scale NFT creation. In particular, he points to the ledger’s ability to maintain consistent transaction fees – something impossible on most other platforms today – as a primary benefit for both buyers and sellers.
David also reveals that federated sidechains – blockchains that operate alongside other blockchains – could be available for the XRP ledger in the coming months, opening up a myriad of exciting possibilities, including limitless transaction scalability and advanced DeFi capabilities.
Ripple’s D&I efforts empower employees
Alison Crawford, Global Head of Diversity and Inclusion at Ripple, shares the company’s progress in its D&I programs.
It lists all of Ripple’s four D&I pillars and describes a number of initiatives over the past year: external efforts such as showcasing the company’s diverse workforce, and internal initiatives such as promotion and recruitment, leadership cultural and professional development, and activation of our seven employee resource groups (ERGs).
Alison sees these worker-led ERGs as critical to making sure Ripple recognizes and accepts differences so that people can do their best job. She says it’s important that Ripple’s D&I program, as a global company, focus on the greatest opportunities in each region while making progress on universal issues like equal access and advancement for women.
Alison also proudly notes that Ripple has implemented the Rooney Rule, which ensures that at least two underrepresented people exceed a certain stage in the interview process. And she looks forward to using internal survey results to tailor the company’s benefits to meet the needs of Ripplers around the world.
Notable growth in APAC
Finally, Ripple’s new Managing Director for APAC, Brooks Entwistle, stops by to discuss RippleNet’s growth and dynamism in the APAC region.
Brooks previously held senior positions in APAC at Goldman Sachs, the United Nations, and Uber, and sees an imperative regional need for money that can be moved across borders quickly, cheaply, and environmentally. He attributes RippleNet’s 10x growth in transactions over the past year in APAC in part to its ability to provide easy value transfers to workers sending money home or families receiving remittances from abroad.
“We want to make sure they can do this so that more money, more value, gets to these families and gets there faster than they can currently,” says Brooks.
Looking ahead, he sees continued growth for Ripple in the region with the goal of continuing to bring Ripple and its teams and technologies through this exciting growth quickly.
Check out the latest episode of The Ripple Drop to find out more.