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Ripple CTO brings clarity as to why the company is focusing on small payments


Asheesh Birla published an article earlier this week with some insight into what the company is looking at now and in the future.
This article stirred up a reaction within the crypto community, particularly from investors and traders.

Asheesh Birla, the SVP of product at the San Francisco-based blockchain company Ripple published an article earlier this week on the 9th of June with some insight into what the company is looking at now and in the future. This article stirred up a reaction within the crypto community, particularly from investors and traders.

Ripple Labs have previously announced that it will dramatically reduce its programmatic XRP sales in order to focus primarily on its over-the-counter trades. This will help build its utility as well as it’s liquidity in the long run.

The report says that the company is staying on the course of remittances and SME payments but they did warn that the on-demand look at quiddity (ODL) transaction volumes could look slightly different in June. Birla said that the LDL is able to change in accordance with the market but the firm has a maid strong on its original goal. The SVP further said:

“When we first conceived the idea for ODL, we identified low-value, high volume payments as the sweet spot where customers would see the greatest value in time and money saved using XRP. These often translate to remittance, e-commerce, and SME payments.”

For the XRP community though, there is a lot of worry surrounding the lack of clarity on how the company is doing it until business when it comes to us at adoption and value utility. The Chief Technical Officer of the San Francisco based company, David Schwartz took to Twitter to respond to a question as he offered more clarity on the whole issue. You can see his tweet below:

Some partners weren’t willing to let us handle their retail payments directly until we could prove that the technology worked reliably. Treasury operations were safer because customers weren’t waiting for them to complete.


— David Schwartz (@JoelKatz) June 9, 2020

It will be interesting to see how this situation plays out. For more news on this and other crypto updates, keep it with CryptoDaily!

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