Ripple Debates SWIFT – The Battle Of The Cross Border Payment Solution Giants
With the cryptocurrency space growing not only regarding technology but also with high powered controversy comes a debate which could put one or the other to shame. Next month, February 2019 Ripple will debate SWIFT at the ITC Conference in Germany.
Initially, there were rumors of Ripple joining hands with SWIFT to make a far superior cross border solution. However, Ripple clearly stated that it would be competing with SWIFT. Hence the debate is bound to witness advantages and disadvantages of both the technologies in an event which will get tongues wagging.
The Global Head of Banking from both the sides will be debating on behalf of their company’s, and it’s technologies. Marjan Delatinne from Ripple and Wim Raymaekers from SWIFT. The moderator will be the Martin Bellin who is the CEO and founder of corporate Treasury management company Bellin.
The debate will discuss several questions which include-
- How will technology affect our daily lives as treasurers, with the banking sector challenged by new concepts and ideas?
- Are established banking structures going to be turned on their head?
- SWIFT and Ripple take a look at the future of global money transfers and propose that their specific concepts are set to replace all other approaches. What will the future look like?
Ripple has the upper hand with regard to cheaper, faster and more efficient cross border payments. It is seen to prove it’s worth, not only by its strong marketing and partnerships but also by partners loving the technological capabilities.
Unless of course, SWIFT introduces a new technological project which may be ten steps ahead of Ripple. Then again, can anyone match up to Ripple’s dedication of 200 plus partnerships in a year and tremendous technological capabilities?
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