The company behind Ripple, the San Francisco-based Blockchain start-up, is seeking to expand into China, which will not be easy, much less when Ripple wants to do so without help from local Chinese partners. Obviously, this ends the rumor, at least for the moment, involving the giant Alibaba with Ripple. Despite discarding, I repeat, for the moment, the possibility of entering into Alibaba Chinese market or any other company in the country, (Chinese companies often cling to themselves, and are not easily associated with outsiders), Ripple has Intentions to enter it, and it is news more than hopeful. Emi Yoshikawa, director of Ripple stated:
China is a key market for a global payment network, so we are looking to build a presence there, “The total b2b payment value that concerns China is $ 5 trillion annually, and China’s large e-market currently lacks a solution Highly efficient and low cost.
The exposure of a trade in Asia is invaluable. In addition, given the great interest, China has had in Blockchain, it is normal for some companies to try to make a name there. Ripple is definitely on that list, although they are not taking the easy path. The country has a volume of US $ 5 billion in cross-border B2B payments as well. If the company were to make a small fraction of that volume, things would become quite promising. More importantly, Ripple does not seem to have major competitors in this regard. China does not have an efficient and low-cost B2B payment solution at the moment.
An expansion into China, despite the difficulty of the kind we saw in previous articles, would significantly increase world competition in crypto-currencies. And Ripple is one of the great and that could make a difference, Ripple has become one of the main players in the scene of cryptography after an impressive first half during which the price soared almost 4,000 % Up to $ 0.263. And we are talking about the third largest crypto-currency in terms of capitalization and certain financial institutions such as MUFG in Japan, BBVA in Spain and SEB in Sweden plus 10 new financial institutions have started to collaborate with this great altcoin.
In this way they put an end to the rumors that, due to an image that saw a node operating in Hangzhou, China, directly associated with Alibaba, they linked the giant Chinese with Ripple, not leaving us bad flavor of mouth, because now we have recorded of the great plans that Emi Yoshikawa has in hands in the lands of the Asian giant.