Ripple (XRP): Today the Visa network crashed all across Europe, leaving many people frustrated and unable to pay bills, or even travel. Visa has admitted that there was a problem.
In a statement, the company stated that, there was a problem, and that they are working to quickly resolve it. This crash only leads to the increased need for blockchain technology in the finance industry.
Current financial systems including the one used by Visa are not designed for finance in the digital age. They were designed before the age of the internet.
This explains why banks are increasingly moving towards blockchain solutions like ripple. Credit card companies too are looking into such solutions.
That’s why some time back, it emerged that Visa was looking to develop its own blockchain infrastructure that mirrors ripple. However, from a critical perspective, it makes more sense for Visa to work with ripple as opposed to developing its own infrastructure. Read more from cryptoglobalist.com…
thumbnail courtesy of cryptoglobalist.com