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Following the Ripple network’s integration with PayString, there is almost flood of speculation from the community about the outcome of this approach.
A pseudonymous enthusiast of Ripple network and its native token XRP and crypto analyst came up on Twitter and shared his vision about the ID development’s role following the strategy of Ripple. Crypto experts have shared that the integration of Ripple network with digital payments solution Pystring was an indication of the network’s serious and sole focus on putting on digital ID solutions.
Further the crypto analyst recalled the general manager at RippleX, Moica Long who named decentralized identity as the most important use case among all the decentralized solutions ever. He also recalls the efforts of Ripple network made towards building and forming an ecosystem around digital payments that would be compatible with human-readable IDs.
It was on 1st April 2021 when Ripple network integrated the protocol of digital payment solution firm PayString into its core RippleNet mechanism. Apart from this, the solutions also included payment ID advancements that were from the winners of a grant initiative of Ripple network’s University Blockchain Research Initiative (UBRI).
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At the end it was in 2021-2022, former and existing employees and colleagues of Ripple released a number of papers in order to cover the design of payment identifications solutions perspective. The fact as such is that the payment ID developments are in the spotlight of Ripple and it’s obvious to the experts because they think that Ripple is working on the identity solutions on both sides be it internally and also through the UBRI.
As reported earlier, starting from the day earlier, 10 June 2022, holders of Ripple native token XRP became able to open and sign in to their respective XUMM wallets with only their XRPL account addresses. The originality of solutions is set to bring advancements in the usability of the payments system of Ripple network and make it further more attractive for those who are new into the crypto space.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
