In a previous blog article I wrote, I had discussed the potential use cases of XRP which can increase it’s price through a rise in demand and utility and thus value. Since that article, MoneyGram has confirmed that they are now going to utilize XRP. This news has stolen the spotlight, but it is important to know that this is just the beginning for one (do not forget that two more money transfer institutions are still to be announced), and secondly, XRP is already utilized in diverse sectors!
So I had mentioned before that there is the potential for XRP to be eventually used for web payments. This meant that the utility of XRP is limitless, the sky is the limit. This can be me and you sending XRP to each other, or mom and pop stores and so on. This has already turned out to be true, as Selly, a small online retailer, has indeed officially begun accepting XRP for payments as of yesterday. Now this may not be a big company like Amazon, but the concept and the idea has already been put into real-world use – this is what is important. We are only two weeks into 2018, and the utility of XRP has already begun in the real world.
One of the hot use cases announced at the end of the last year was that Michael Arrington, founder of TechCrunch, was starting up a $100m investment fund denominated in XRP. This has now gone live. Another use case right there for XRP. What else can XRP be used for? Basically any business idea can potentially implement XRP. The sky is really the limit. You could decide to start a business today supporting XRP if you wished!
Future uses of XRP could include, but are not limited to:
- Non-financial businesses
- David Schwartz from Ripple has confirmed that they are working with non-financial companies that are household names. Imagine being able to use XRP to settle payments when you’re travelling around the world for work or backpacking for both Air BnB and Uber. Using XRP instead of the gazillion different currencies!
- Niche communities
- Recently, the gaming company Steam decided to drop Bitcoin for payments. It’s slow and has high fees. There may be a time in the future when various niche communities like gamers and such will use XRP to settle payments.
- Bank usage of course.
- To solve the trillion dollar liquidity issue, banks will require XRP, at a high value (to increase liquidity). This demand from large financial institutions will drive up the price.
- A store of value? If all the above lead to mass adoption of XRP, who knows…
- The sky is the limit for uses of XRP
Imagine how high the price of XRP can go by 31st December 2018? With all the above potential I mentioned above, does $20 or $50, or even $100 per XRP sound that ridiculous anymore? The future uses of XRP are there and XRP is looking like a shining star! This is owing to it’s groundbreaking technology – speed, scalability, low transaction costs. Spread the news, and if you’re already a big holder of XRP, or thinking of getting in, remember the value of XRP is increasing fast. So don’t forget to store XRP safely by using the popular and trusted Nano Ledger S Hardware Wallet. Also, Amazon has a range of cryptocurrency wallets, accessories, and tools, as well as books on cryptocurrency investing.
For information on how to buy XRP, click here. If you have been chatting with colleagues, friends or family members, or anyone that is on the fence or uncertain about XRP, direct them to this article: Ripple XRP – debunking the myths.
If you enjoy the content, don’t forget to subscribe (on the right-hand sidebar) to get the latest blogs by email.
Disclaimer: This post is my own personal opinion. I am not a professional financial adviser and am not responsible for your own investment outcomes.
Disclosure: At the time of writing this post, I hold units of XRP.
Categories: Ripple XRP