the FS industry ’ s apparent reluctance in PwC ’ s report . It could subsequently be inferred that the true value of blockchain lies not in this limited capacity but rather in its potential for disruption ; as an instrument of future innovation and a company ’ s long-term vision . The World Economic Forum considers that the answer could lie in between : “ Blockchain will fundamentally alter the way financial institutions do business around the world . However , the effects will be hidden , coming from new processes and architecture based on blockchain rather than radical fintech innovation or new currencies such as Bitcoin .”
RIPPLE
Ethan Beard is Senior Vice President of Xpring at Ripple , which provides blockchain technology for global payments .
“ You can think of Xpring as Ripple ’ s open-source developer platform for money that allows all developers to more easily integrate payments into their applications ,” he states .
For Ethan Beard , Senior Vice President of Xpring at Ripple , the most exciting aspect of blockchain is its ability to transform and even create entirely new economic models . “ The application of blockchain technology in payments , for example , has allowed businesses to facilitate faster transactions while fostering instant trust between parties ,” he explains . “ Xpring , for example , is helping gaming companies like Forte provide more payment options for gamers . Gaming is made up almost entirely of digital microtransactions where users purchase in-game items such as skins , powerups or specific items . By integrating crypto into its platform , Fortnite users can easily purchase in-game currency in small amounts instead of having to purchase large amounts at one time . Blockchain can also allow users to buy and sell digital goods , creating a new in-game economy and business model for game developers .”
55 fintechmagazine . com