Yet another episode of the exciting, one of its kind Ripple Drop series unfolds. Ripple drop clearly features that the potential that Ripple [XRP] has is exemplary, not just for its value but for what it can offer the society in the long run.
The Episode 7 of the Ripple Drop featured a whole lot of discussions with several influential people. These include;
- Founder and CEO of OMNI, Thomas McLeod, who gave a rundown on OMNI’s vision and how together with his team, they’ve integrated the XRP onto their platform.
- Senior Vice President of Xpring, Ethan Beard who discussed Xpring’s future plans to help support developers and businesses working on the XRP Ledger and Interledger Protocol.
- And finally Head of XRP markets, Miguel Vias who talks about how new use cases for the digital asset impact broader global liquidity of XRP.
Tokenizing Digital Assets
Ethan explained that the first use case his team has focused on from the Ripple perspective is on cross-border remittances and the other possible use cases for XRP and XRP Ledger. He pointed out that Xpring is an initiative to focus on new use cases for XRP and XRP Ledger outside of cross-border payments.
He also explained that despite the company is not only focused on XRP payments but they are also looking towards the tokenization of real world assets.
Ethan said; “There are a lot of assets that people purchase and that are actually quite liquid, they are quite hard to transfer and by tokenizing these things you can make them more liquid and much easier to transfer around.”
He gave gaming as a similar example to un-tokenized online assets, whereby, a people spend loads of money buying virtual goods inside their favourite games but these good just stay locked up inside the games.
By tokenizing these virtual goods and building a platform where they can be exchanged inside a market place, companies can actually create the needed level of trust and ease transfer.
“It starts to shift things like games from being based around kind of free to play and selling virtual goods to almost like a marketplace or a market driven economy.”
He also mentioned how, OMNI, eases ‘old gaming’ PC and ‘burning up a bunch of electricity’ mining procedure by allowing people to sell stuff on the platform and actually earn XRP.