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- Ripple partner private airline Tapjets has come in favor of XRP, explaining how it has helped the platform speed up transactions.
- Tapjets also stated how cryptocurrency is more suitable and faster than any traditional bank.
- CEO of Ripple said that SEC is not only against XRP, but it is also against the blockchain industry
Another Ripple partner came forward to support the company in the Case filed by U.S Securities and Exchange Commission(SEC). Private airline Tapjets have come forward and joined the Case. Private airline Tapjets is the world’s first True Hail-A-Jet service. It is the world’s first and only platform that allows its customers to book private jet operating companies instantly.
Private airline Tapjets have explained to authorities how XRP, the native cryptocurrency on the Ripple network, has helped the platform speed up transactions. Tapjets stated that the airline platform started using cryptocurrency payment XRP because the platform customers could easily book their private jet using the cryptocurrency at the same time when they tried to do the same with the traditional banking they used to face delays in the payments.
According to the statement
“Tapjets call this the “Friday Night Problem” because the limitation in fiat currency and the banking system become most problematic when a traveler wishes to book weekend travel,such as on friday night.”
The same goes for other cryptocurrencies. They are also faster than traditional banking, but in the Case of XRP, it is faster and, at the same time, offers cheaper transactions than any other cryptocurrencies, and that’s the reason that Tapjet, as well as its customers, consider XRP as a trusted payment method.
There was one survey that was held on Twitter in the year 2018. According to that survey’s records, 43% favored XRP as the most convenient fiat alternative over other cryptocurrencies; there were 57,054 votes, and 43.9% favored XRP.
The Case was filed on 22 December 2020 by U.S Securities and Exchange Commission (SEC) against Rippleclaimingg that Ripple has raised around $1.3 billion illegally. And when SEC filed a case, Ripple was already trading in more than 200 exchanges.
As per the site SEC, “the complaint alleges that the defendants failed to register their offer and sales of XRP or satisfy any exemption from the registration provisions of the federal securities laws.”
The reports suggested that Ripple labs did not respond to the SEC complaint for almost 39 days after the complaint was registered. And after that, the CEO of Ripple, Brad Garlinghouse, said that SEC is not against just Ripple but it is against the whole blockchain industry.
Garlinghouse stated, “We are not only on the right side of the law, but we will be on the right side of history.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
