The Ripple company, led by its head Mr. Brad Garlinghouse, has developed plans for the further development of the XRP token as one of the tools in making payments. According to the head of the company, this token is more suitable for payment transactions than Bitcoin or Ethereum, since it has a high speed of transactions, as well as a low level of energy consumption.
At a video conference summarizing the first quarter of 2020, the head of the company said that the company plans to continue working on improving the XRP token as one of the payment instruments.
In the same place, he said that it is a good trend for central banks to introduce digital currency in all countries for making payments.
Ripple CEO statistics note that RippleNet transactions have increased by 85% since the fourth quarter of last year. At the same time, over the same period, the demand for ODL (On-Demand Liquidity) also increased by 190%.
The head of the company also plans to increase the number of full-time employees and by the end of this year the number of employees will be more than five hundred people. At the same time, he assured that the selection of employees will be carried out taking into account the economic situation.
Talking about the current economic situation in the countries, he mentioned Germany in the period from 1919 to 1933, which was then the Weimar Republic. In particular, he noted that the German leadership at that time made a mistake by turning on the printing press, which in turn led to hyperinflation and a massive hunger strike among the population.
He also expressed his opinion on the current situation in the United States. The economic crisis that appeared against the backdrop of a pandemic may continue for a long time and the risk of ending up in a situation with Germany still exists.
Official data for Q1 2020 shows a decline in sales of XRP tokens by 87 percent. And this is the lowest indicator in the history of the Ripple company. The reason for such a drop in sales could be a decrease in direct sales in the institutional market, as well as the current pause in the cryptocurrency market.
As the head of the company replaced, there could have been no profit before without successful XRP sales.