Many years ago, I co-founded the first commercial crowdfunding company. It was a crazy period of growth and work and we ended up inventing our own financial systems and passed nine figures of transactions through our systems. I think we helped pave the way for the crowdfunding industry but got bought by another company and our name is no longer part of the crowdfunding landscape. Still, our concept had an impact in the financial world as billions of dollars now flow through crowdfunding platforms each year.
Ripple reminds me a little of this experience. It may become the defacto method used for currency exchange for years or decades to come, completely changing the ways banks and financial institutions send and receive currency and settle transactions. Or, like my company, it may innovate just enough to illuminate for another company the path that will ultimately become the defacto standard.
Who knows? Ripple sure looks well positioned to become the defacto standard but the world is full of stories of innovations that come and surpass industry leaders in short periods of time.
I’ll share XRP news I find interesting on this blog. Thanks for reading!
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