Global Adoption Of Blockchain Technology Is seeing Progressive Results

Parth Vig
Parth Vig is a Management student, and a keen observer of Cryptocurrency and blockchain technology, his interest in writing brings him to thecoinrepublic.com, He believes that he has many ideas that he pens down and he feels it would be a great asset for any kind of creative writing.
  • World Economic Forum, Davos 2020, the secretary of the Treasury, Steve Mnuchin, shared his thoughts on the global adoption of Blockchain.
  • Ripple’s Blockchain network RippleNet is being adopted by the banks and infrastructures due to its simplified use of its Blockchain.
  • The money transfer agent MoneyGram has adopted the RippleNet because of its on-demand liquidity and faster transaction rates with trustable security.

In the present day, many financial sectors and banks are adopting the technology of Blockchain and the power of cryptocurrency hic is yielding the surplus results. In the recently held event by World Economic Forum, Davos 2020, the secretary of the Treasury, Steve Mnuchin, shared his thoughts on the global adoption of Blockchain.

He mentioned that Blockchain has directly provided useful results to the companies which have adopted them and has proved efficient than the previously used technology space. The critical result obtained is the faster transaction rate with lesser cost per transaction due to the Blockchain technology.

The global adoption of Blockchain started in 2019 as a broad spread movement, which added much value to the digital assets as well as to the Blockchain itself through which the transaction occurs, with its secured peer to peer transaction.

The ending of the previous year has seen remarkable growth in the derivatives based on digital assets, and their performance is staying in the stronghold, which is sufficient enough to add value to the maturing technology of Blockchain and cryptocurrency.

The increased use of derivatives of digital assets is making the market more stable and is increasing the liquidity in numbers with no sign of reversing back. This advancement was realized by the Ripple community, and the community shared in a blog post.

Ripple’s Blockchain network RippleNet is being adopted by the banks and infrastructures due to its simplified use of its Blockchain, which can be used to leverage on-demand liquidity used in cross border payments with peer to peer security.

The money transfer agent MoneyGram has adopted the RippleNet because of its on-demand liquidity and faster transaction rates with trustable security. RippleNet is making it possible to connect different financial institutions, which are also helping in creating networks upon networks for increased security and transaction rates.

If the network continues to grow and expand, the market becomes more stable and improves liquidity. With the global adoption rates increase, the market values of cryptocurrency are failing to do the same.

XRP is gaining popularity with its rate of adoption and preference give over the other Blockchain networks. The community expects that the market value of their token to increase in the same manner.

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