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Ripple CTO In 2020: My Dream Scenario Is SWIFT Makes Deal With Ripple
Crypto influencer Amelie (@_Crypto_Barbie) recently brought to light comments made by Ripple Chief Technology Officer (CTO) David Schwartz in 2020, shedding new light on the company’s vision for cross-border payments. The CTO’s dream scenario, revealed through these archived statements, highlights a potential partnership between Ripple and SWIFT.
According to Schwartz, his ideal outcome would be a deal where SWIFT allows its member banks to use Ripple’s payment network for free. Additionally, he suggested that Ripple could pay SWIFT for this collaboration, as it aligns with their strategy for XRP.
Schwartz’s comments provide insight into Ripple’s stance on integration with SWIFT in the past, showcasing an ambition to accelerate XRP adoption across the global banking system. However, recent developments indicate a shift away from this goal.
Ripple CEO Brad Garlinghouse has been explicit in distinguishing Ripple’s approach from that of SWIFT. He criticized SWIFT’s messaging-based system as outdated, implying that Ripple’s focus on real-time settlement and tokenized liquidity offers a more effective solution for contemporary cross-border payment needs.
This stark contrast suggests that Ripple is no longer interested in cooperating with SWIFT, but rather positioning itself as the foundation for a new financial system that eliminates the need for intermediaries like SWIFT.
Source: https://timestabloid.com/ripple-cto-in-2020-my-dream-scenario-is-swift-makes-deal-with-ripple/
