The Daily Hodl
Ledger Nano S - The secure hardware wallet
  • HodlX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • FEATURES
    • News
    • Bitcoin
    • Altcoins
    • Trading
    • Blockchain
    • Regulators
    • Finance and Economy
    • Cryptoculture
    • Scams
    • Mining
    • Crypto 101
  • Crypto Livewire
    • Press Releases
    • Submit
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • THE FUTURE
    • $3.1 Trillion Blockchain Future
    • 6,000 Stores in South Korea
      to Accept Cryptocurrency
    • 80,000 EU-based Merchants
      Can Accept Bitcoin
    • World’s Biggest Brands
      on the Blockchain
    • Despite the FUD,
      Bitcoin Adoption Is Surging
    • Japan Leads Corporate Crypto Bandwagon
    • Mainstream Crypto Payments in UK by 2020
    • Bitcoin Buys Two Condos in New York
    • World’s Smartest City
  • Submit
    • Guest Blog
    • Press release
    • Sponsored post
    • Crypto announcement
    • Personal crypto project
    • Guide or tutorial
    • Infographic
    • Opinion
  • Advertising
Close
The Daily Hodl
Close
  • HodlX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • FEATURES
    • News
    • Bitcoin
    • Altcoins
    • Trading
    • Blockchain
    • Regulators
    • Finance and Economy
    • Cryptoculture
    • Scams
    • Mining
    • Crypto 101
  • Crypto Livewire
    • Press Releases
    • Submit
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • THE FUTURE
    • $3.1 Trillion Blockchain Future
    • 6,000 Stores in South Korea
      to Accept Cryptocurrency
    • 80,000 EU-based Merchants
      Can Accept Bitcoin
    • World’s Biggest Brands
      on the Blockchain
    • Despite the FUD,
      Bitcoin Adoption Is Surging
    • Japan Leads Corporate Crypto Bandwagon
    • Mainstream Crypto Payments in UK by 2020
    • Bitcoin Buys Two Condos in New York
    • World’s Smartest City
  • Submit
    • Guest Blog
    • Press release
    • Sponsored post
    • Crypto announcement
    • Personal crypto project
    • Guide or tutorial
    • Infographic
    • Opinion
  • Advertising
Ripple’s Susan Athey on RippleNet, Bitcoin, Crypto, Blockchain and the Future of Currency
Share:
Blockchain November 25, 2018 Daily Hodl Staff

Ripple’s Susan Athey on RippleNet, Bitcoin, Crypto, Blockchain and the Future of Currency

 

In a new speech, Stanford professor, economist and Ripple board member Susan Athey analyzes how Bitcoin, banks, blockchain and RippleNet work behind the scenes.

According to Athey, the peer-to-peer nature of blockchain and cryptocurrency has the potential to free people and businesses from expensive fees and errors inherent in the current financial system.

“So in terms of the future of currency, in some sense part of the role of the US dollar has been to be a hub currency and a hub and spoke system. But with these new technologies, the smaller countries don’t have to go through that hub. Anybody who flies an airline through a hub knows that you pay a higher price, and it can be slow and the airlines exact monopoly power over you when they have control of a hub. And the smaller banks and countries feel the same way about their relationship with the large US banks, where they have to pay markups and face delays as they go over that system.”

As for Ripple’s suite of cross-border payment solutions, Athey says financial institutions are joining RippleNet to leave the hub mentality behind, and avoid significant markups and delays on the global payments network Swift.

“There’s a big group in the Middle East. There’s also a big group in Asia. A big group of Japanese banks have just joined. So a lot of smaller countries are the early adopters. And they’re setting up their own networks so they don’t have to go through Swift. Because Swift is somewhat archaic and it also goes slowly. Their messaging doesn’t work very well. And then the smaller countries also feel they’re very disadvantaged because everything is going through a few large US institutions…

So they basically create a peer-to-peer network that allows them to move money instantly among themselves without having to go through that. Now, a set of those countries are also using the cryptocurrency. Right now, it’s mostly remittance providers. So there’s a company called Cuallix that’s doing it US to Mexico. And there’s an association of 1,400 US credit unions that’s doing it to help credit units access international markets. And so it’s coming up from the bottom, from the smaller players who aren’t well served.”

Join us on Telegram            Follow us on Twitter

Check Out the Latest Headlines


Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Tags: News

Crypto Livewire

  • Blockchain to Save People’s Lives by Tracing Food Supply
    February 21, 2019
  • Malta AI & Blockchain Summit Handing Out 100 Free Booths to Startups
    February 14, 2019
  • Wirex Integrates Nano, Providing Seamless Spending Anywhere Visa Is Accepted
    February 12, 2019
  • MiningSky: The Cheapest, Profitable Cloud Mining
    February 7, 2019
  • Altcoin Fantasy OKCoin Contest
    February 4, 2019
Submit a Press Release
 
 

Around the web

Ads by Cointraffic Ads by Cointraffic

Spotlight

  • Billionaire Bitcoin Investor Tim Draper Says Cash Is for Criminals, Crypto Will Make Fiat Obsolete
    February 18, 2019
  • Investors Are Accumulating Bitcoin and Ethereum and Not Letting Go, Says Creator of Crypto App With $50 Million in Deposits
    February 6, 2019
  • Ripple CEO Brad Garlinghouse Says XRP Will Beat Any Bank-Backed Crypto
    February 14, 2019
  • Nasdaq Launching New Bitcoin and Ethereum Indexes to Boost Crypto Cred on Wall Street
    February 13, 2019
Cryptocurrency news and analysis, covering Bitcoin, Ethereum, altcoins and the blockchain
  • Altcoins
  • Bitcoin
  • Blockchain
  • Crypto Livewire
  • Crypto101
  • Cryptoculture
  • Finance and Economy
  • HodlX
  • Mining
  • Regulators
  • Scams
  • Trading
DailyHodl

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT

 JOIN US ON TELEGRAM

COPYRIGHT © 2017-2019 THE DAILY HODL

We use cookies to give you the best online experience possible. By agreeing you accept the use of cookies in accordance with our cookie policy. I Accept