Close Contact with Central Banks

Last Modified:8 Dec 2019 11:53:06
Close Contact with Central Banks

Ripple Is in Close Contact with Central Banks and the International Monetary Fund

The ripple system in the duration of its activity in the crypto world and the decentralized systems has been able to attract the opinion of many organizations and people. Reportedly, large institutes like the international monetary fund and the central banks of different countries are in contact with Ripple. For example, the chairman of the international monetary fund believes that XRP is able to replace actual currencies. If a change is supposed to take place in the world of economy and financial affairs, surely institutes like the international monetary fund and central banks will play a role in the development of new technologies and systems for the managing of banking and economic affairs and financial transactions. Therefore, their remarks in this area should be followed up and analyzed closely.

 The Shape of Banking and Financial Transactions Is Changing

Technology and the wide communications that have been created in the world are creating a world wherein everything is turning to an international and global form from the centralized and local form. In a world that is changing to a global village, the banking structure and financial interactions need to continue with an international currency. This need attracts all attention to cryptocurrencies. Cryptocurrencies that are able to be implemented in international affairs and trades and their decentralized infrastructure enabless all actors to play a role on the same level in international dimensions, without the need for state or country surveillance.

Escape from the Monopoly of Dollar Is on Its Way

The U.S. dollar mostly binds international economic trades and activities. This much dependency is not in the interest of other countries and enforces some pressure and limitations. However, these days, the global bank and the international monetary fund, by discovering the capacities of Ripple and other cryptocurrencies, have come to this conclusion that the time for change has come and perhaps we should look for a new and global way of using currency in the international activities. Putting aside dollar and well-known currencies from economic and commercial processes will be met with some opposition from shareholding countries. For this reason, there is a need for creating infrastructures and international preparations to use systems such as Ripple.

Ripple and Cryptocurrencies Will Revolutionize the World

A world that is not dominated by states and international institutes will be a freer world. Cryptocurrencies and networks such as the Blockchain can greatly help the world become freer. When the monopoly of the dollar is destroyed, and countries such as the U.S. and China are not the most important actors in the economic and commercial world, there will be the possibility for growth and equality for other states and nations. Ripple and cryptocurrencies can revolutionize the world with their specific technologies. The world that is a global village will not have discrimination for feeding and improving its different parts. Everybody can take part in the commercial and economic affairs based on their abilities and capabilities. For new technologies and phenomena to be able to find a place in this world, they need to be supported by large organizations. By supporting Ripple and different cryptocurrencies, the international monetary fund and the global banks can play an important role in the development of the new technologies in the world too.