Ripple CTO Says XRPL Pivoting To RWA Like JP Morgan Chase Bank

➡ Ripple CTO discusses the current shift to Real World Asset (RWA) tokenization, notably utilized by major firms such as Morgan Chase and Bank of America, driving efficient and smooth banking transactions and asset tracking. The XRP ledger plays a key role in this progress by facilitating global transfers of these digital tokens, improving financial infrastructure. However, the focus is shifting more towards the XRP ledger’s capabilities rather than trading and holding XRP token itself.
➡ The text discusses the use of cryptos like XRP for facilitating liquidity and transparency among banks like Morgan Chase. It implies that XRP and Ripple Labs are developing a system for quick global money transfers, and banks might invest in it when they go public.

Let’s jump right in. Ripple CTO. Big announcement. Well, not big announcement. We’re going to talk about Morgan Chase bank. We’re going to talk about these RWAs. We’re going to define what an RWA is right now because banks are going digital. They’re going to tokens. They are exchanging your money for tokens. They’re actually not. But that’s been the clickbait for the last, I don’t know, few months. And Morgan Chase is now moving into a digital token.

I’m going to explain what that is in a second, but real quick. Real world asset tokenization is what RWA stands for. It offers benefits that reshape the financial landscape, transforming physical assets like land, artwork and commodities into digital. Tokens promotes increased liquidity by permitting fractional ownership and round the clock trade on blockchain based platforms. Let me explain this very simply. There’s been a ton of clickbait about Morgan and other banks.

I think what Citibank and other banks going to these tokens, they’re saying they are changing out your money without your permission. All right? That’s a ton of clickbait. And trust me, I get clickbait, I get it. I don’t blame them. But at the same time, it’s not like the nefarious thing that you’re thinking really what this is. Banks are using a blockchain to collateralize assets, but also to track these assets, all right? It’s a lot faster, a lot more efficient way of keeping track of where their money is or where the money is flowing throughout the bank.

Okay? If you go to the ATM and let’s say they’ve tokenized your account, you ask for cash, you’re going to get cash. This is how it works. It’s just a much smoother way, cost efficient way for banks to transact. I would love to just get millions of views on this video because I clickbaited the crap out of it, but that’s not how it works, okay? So people need to understand that.

Now, where does this play into XRP? XRPL and David Schwartz? Well, let me tell you that story and then we’re going to go and I’m going to do the Morgan story, chase bank story, so that you can see that I’m not pulling something out of my tukus. All right? Ripple CTO says XRPL is pivoting to RWA tokenization, pursued by firms like Morgan and B of A says Ripple CTO David Schwartz has revealed your Schwartz is as big as mine.

Tell me what movie that’s from. Sorry, I couldn’t tell myself. Has revealed that the XRP ledger sorry, David. Come on, you like you haven’t heard it before. He’s watching. Is moving towards real world asset or RWA tokenization. A scene pursued by prominent firms such as Morgan and bank of America. Schwartz made these remarks while discussing the journey of XRPL. In a recent interview, he expressed his satisfaction with the fact that the technology behind the XRP ledger is getting more attention these days.

Instead of an all in obsession with XRP, its gas token. Let me explain. For people that don’t know, there’s a Thanksgiving special, thanksgiving special, black Friday special on the XRP 1oz silver coin, commemorative coin. If you want. Check it out. It’s in the top line description. All right? The XRP Ledger set up really in a sophisticated way through Ripple Labs, a private company that’s going to go public one of these days.

XRP is used as gas. Let me give you an example of how gas is best. Example, people don’t know crypto. They’re like, what? When you go to move? Well, Walmart, one of their biggest money makers in their entire corporation, is through sending money. Was it Western Union? They send money, all right? People come into bank of America or Walls Walmart, and they go, hey, I want to send money to my family in Mexico.

And they go, okay, how much you want to send? $100. Copy. That’s going to be $110. And I’m just making up numbers. And they’re like, okay. And so they give them $110. Well, that $10 was the fuel. That’s what you put into the truck or the car at stupid high prices. Thanks, biden, and you get somewhere, right? Well, that $10 was the gas for the Western Union or Walmart to push that money over to Mexico.

Ola Mexico. I’m all over the map. Point being, is that’s what it took? So XRP the digital I want to say token all the time. I’m always tokens in my mind, but there’s so many lawsuits everywhere. It’s like, what do we say it is? Everyone’s going to yell and scream at me. My point being is that that’s what it takes. They go, hey, I want to send this token from B of A to another place in the world, okay? It’s going to eventually you’re going to launch, going to take XRP, and that XRP is what runs that XRP Ledger, okay? XRPL, and that is being built up.

Well, David Schwartz is talking about how they’re pivoting to these RWAs, right? The real world asset tokenization that bank of America is doing, that Chase Bank’s doing. And I’ve been saying this for a long time, for years, why I got invested in this along with others. This isn’t investment advice, but it’s because here’s a company that has figured out how to mold all of these countries digital currencies and build a platform to where these RWAs or real World Asset Tokens can move around the world from bank to bank, from government to government, okay? It’s really important that people understand how big of a deal this is, okay? Now, it’s not because I’m telling you should go buy it.

It’s not investment advice, but you see the entire world’s changing. So when they talk about gas costing, I got to tell you this real quick story. She doesn’t know who I am. There’s this lady that comes into the cul de sac all the time. I’ve been seeing her for years. I’ll wave. Yesterday, her windows rolled down and I pull up and I go, hey, I hope I don’t bug you, I’m going to go live.

And she doesn’t know what I do. And she goes, well, as long as you’re willing to say how this country is going to the crapper and our current administration needs to be changed out. And I’m like, okay, I’ll talk about that. And she’s like reciting this channel. I’m like, okay, I could actually do that. I could talk about that. It was really funny. So she doesn’t know that I have a YouTube channel.

We’ll just keep her in suspense. All right. Sorry. I digress. Point being is that XRP, Ripple Labs has been taking the XRP Ledger and just doing so much with it. That’s why I got invested in it. Okay? Now Ripple, the Ripple CTO emphasized that XRP remains a token that market participants can buy, hold and transfer. However, he stressed that the token itself is not as interesting as the core technology powering the XRP Ledger.

And I completely agree with that, but just that’s talk for buy our stock when it comes out, that’s what they’re doing, okay? They’re trying to get you really excited about the company stock and it’s going to be a blowout, you watch. I’m not saying it’s going to go up, I’m just saying the company is going to be valued at a lot, all right, because a lot of people know what’s going on.

And will I be buying this stock? No, I’m more interested in buying XRP tokens, as David Schwartz says, as the fuel and what’s going on with that than the that’s just, I don’t want to get into financial not, it’s not, I’m just saying that’s what I’m going to be doing. Now he further called attention to XRPL’s unique nature at the early stage of blockchain adoption, noting that the network was the first layer, one blockchain not built from the bitcoin technology during the 2011 to 2012 period.

It’s totally separate. See what he says. Also, it’s exciting to see more focus on the technology. You’re right. Institutional adoption of the XRP Ledger technology is growing. According to him, a part of the reason behind this growing interest in adoption is the heritage that the network was built around. He confirmed that the original architects, including him, built the XRPL for the ledger for enterprise finance applications across border payments.

That’s why I do not work for or know anyone at Ripple Labs. Now let’s do this. I’m going to Google the Morgan deal. So JP. Morgan Coin, this has brought up a lot of issues lately. People are freaking out because people know social media and the media are clickbaiting the crap out of them. So let’s put some things to rest, some theories to rest. What is the JP.

Morgan Coin and how do I buy it? This is a story, it’s a month ago. There’s a question among banking and fintech companies about how blockchain can help facilitate transactions better. JP Morgan has thrown in its hat into the ring with JPMorgan Coin. The coin is a blockchain powered stable coin pegged to the US. Dollar designed to facilitate instant payments. In 2023, the coin expanded to support eurotransactions with a reported 300 billion in transactions since its launch.

Says this isn’t a coin as we normally understand it because investors can’t buy it on the market. It’s currently limited to institutional users exchanging between crypto, the US. Dollar and more recently, the Euro. Let me explain this in very easy terms. This is not something you’re going to invest in. You’re going to want to invest in pegs the dollar, right? It’s for functionality inside not only Morgan Chase Bank, but also in other banks.

They’re going to move with this. Think of Tether, but different. I know it sounds crazy, but it’s nothing there other than a way for them to facilitate liquidity and transparency for themselves. Okay? It’s not like you’re going to figure out what happened to all that money on that island that we can’t talk about that we really are wanting. The list of all the clients. You guys know what I’m talking about.

Point being is this it’s for their functionality and them tracking where money flows. And that’s where XRP comes in. Because XRPL the ledger and Ripple Labs are building an ecosystem where banks like Morgan, you watch. And what’s going to be really interesting was when they go public, you’re going to find out what banks are buying stock in that now they’re going to be using third parties. But my point being is that you’re going to see them invest because they’re going to build that hub for financial institutions to be moving money around all around the world in lightning speed times.

All right, with that being said, if you guys want the Black Friday deal on the XRP coin, this 1oz silver coin while they’re still there, I’ll put Linked down below. All right? With that being said, the economic Ninja is out. .