Is Google Eyeing Ripple?
Is Google Eyeing Ripple? How XRP Could Benefit from the Alleged Attention?
A major claim regarding the interest of Google in Ripple company and their native currency XRP is cruising the web, following the interest of over 120 banks and financial institutions that previously joined Ripple Net, the network of Ripple supporters.
Claims further state that Google Silicone Valley corporation had been heavily investing in cryptocurrency, allegedly investing in XRP.
Previously, back at the end of October, approximately weeks before Ripple’s XRP took over the spot of the second-largest crypto in the market, Google’s former senior developer, Amir Sarhangi, was placed on the head of Ripple’s Global Payments Network.
Amir Sarhangi joined Google back in 2015 when the company acquired Jibe Mobile, where Sarhangi played a role of the vice president of products for the new wireless messaging service.
Ripple, later on, confirmed that Sarhangi is joining the company as they had doubled their revenues in the third quarter of 2018.
In the meanwhile, XRP is counting 17 billion dollars in market capitalization, representing the second-largest cryptocurrency in the market, while marking a rise of 44% in the course of the last seven days.
Google and Ripple Cooperation?
Although it appears that Google and Ripple have intertwined their paths more than once, also showing the potential of Ripple technology remittance systems with Sarhangi leaving Google to join the team behind XRP.
One of the main indicators why many believe that Google is set to use Ripple’s products like xCurrent and the recently announced xRapid that uses XRP for sending payments is the fact that the tech giant launched a payment service called Google Pay.
With Google Pay, users can link their credit cards and PayPal to their account, which enables mobile-based payments in any shop, hotel, or a restaurant.
Since blockchain is the “new black” in the old of technology and global payments, it is not strange that many blockchain enthusiasts are hinting that Ripple and Google might have mutual benefits from establishing the alleged partnership.
Google Pay service could definitely take advantage of blockchain in terms of offering cheaper and faster transactions with Ripple’s technology.
Ripple blockchain technology is said to be one of the fastest available, able to process as many transactions as Visa while being directly tested against this service, also offering 1500 transactions in a single second at more favorable rates that don’t go higher from 0.0004$ per single transaction.
As Facebook and tech giants like IBM are slowly but steadily implementing or testing blockchain technology, it wouldn’t be strange to see the same demand arriving at Google headquarters, at least with Google Pay and Ripple.
For now, neither Google or Ripple have confirmed any of the mentioned allegations, also not confirming any sort of partnership or cooperation for Google Pay.
How Could XRP Benefit from Google and Ripple Potential Partnership
XRP has seen a major boost in the course of the last year while having over 120 different banking and financial institutions joining the network of Ripple’s supporters.
Since the announcement from the CEO of the company, Brad Garlinghouse, that came out back in September, on the matter of launching xRapid as a remittance system that uses XRP and that should be used by major banks in 2019, already 10 banks and financial institutions are using or testing xRapid.
In case Google would choose to go for Ripple technology in the future, the company could go either for xCurrent or xRapid, while xCurrent is more often used by RippleNet banks and institutions like SBI Group, Santander or Western Union.
If the tech giant chooses to go for xRapid, the price of XRP could boom towards reaching new heights in the market as the demand for this crypto asset would consequently rise with the potential partnership with Google.
The cross-border transaction system xRapid is said to be able to reduce the cost of global payments from 40% to 70% in accordance with the banks that have already tested the product, which could bring notable benefits to Google Pay users in case the tech giant would eventually partner with Ripple Labs.
However, in case Google Pay would integrate xCurrent instead, XRP wouldn’t see much benefit from the partnership as this product doesn’t require cryptocurrency for payment operations.
Whichever the case, it appears that the company is getting ready to suppress XRP to mass adoption in 2019 in accordance with Brad Garlinghouse’ plans with xRapid and Ripple’s network of partners and supporters.