In order to make Ripple XRP successful, Ripple has lots of strategies up its sleeve. Proof of this future success of Ripple are certain events and assumptions related to the company’s products. So, Ripple DLT will replace CAFIS within the framework of the MoneyTap joint project with PayPay, Ripple finances an initiative to help regulators and the likelihood of XRP promotion in Russia, China, and India.
DLT will replace CAFIS
Ripple DLT will replace CAFIS as part of MoneyTap’s partnership with PayPay. PayPay will use the MoneyTap infrastructure to directly transfer funds from banks to wallets without going through the CAFIS switching system. Instead, Ripple DLT technology will be used in this case. MoneyTap uses Ripple DLT, as well as xCurrent, so the partnership can open the door not only for PayPay directly but for its various branches. SBI Holdings notes that using the Ripple DLT will result in lower fees compared to CAFIS.
Funding Regulatory Assistance Initiative
Ripple Co-Founder Chris Larsen joins those funding the recently launched NATO initiative to help regulators introduce new technologies. This will allow regulators to be aware of the latest trends. The new initiative, now supported by Ripple, is called Alliance for Innovative Regulation (AIR). AIR will link regulators, financial institutions, technology leaders and other innovation stakeholders to brainstorm and collaborate on using technology to review financial regulation. According to the co-founder of Ripple, the goal of the new system is to create a special model of cooperation between a complex network of regulatory bodies and the industry. Chris Larsen also became one of the founders of AIR. Currently, the Ripple-supported initiative has already gathered 65 regulators, and some of them have already been offered some technical support.
XRP in Russia, China, and India
The Ripple community believes that China, Russia, and India will accept XRP. Such hopes of the Ripple community are associated with a message from Russia Today (RT). The media said that Russia, China, and India are going to abandon the traditional system for financial transfers SWIFT, creating its own fast payment network based on modern systems. Members of the Ripple community believe that the new system from three countries can use the digital asset XRP to provide sufficient liquidity.