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Ripple News and Price Overview: Ripple Hires Facebook Executive, Appointed A New CTO. Saturday, July 14

14 july 2018, 11:55 by Jofor Humani

Important Ripple News

Ripple Hires Facebook Executive, Appointed A New CTO

Ripple announced on Wednesday that it has hired Kahina Van Dyke, who was a veteran of the banking industry. Van Dyke, who recently worked as Facebook’s global payments director is joining Ripple at a time the digital payment platform plans to convince the banking industry to adopt the new cryptocurrency cross-border payment.

Van Dyke in an interview with Fortune said that the rate at which new innovations are adopted by the banking industry is traditionally low, citing her role in getting the industry to adopt radically disruptive innovations such as banking apps and SMS communications.

Meanwhile David Schwartz has been appointed as the company’s chief technology officer. Schwartz, the company’s cryptographer replaces Stefan Thomas who was instrumental in the development of most elements of the Ripple platform.

Ripple, in the release said that the Schwartz and his team have been mandated to work at further decentralization of the network which has come under the scrutiny of SEC due to the platform’s structure.

Ripple Executive Said the Company’s First Client Didn’t come Easy

Asheesh Birla, the Senior VP for Product at Ripple in an interview said that the company didn’t find it easy getting their first major client. According to him, the platform that was launched in 2012 couldn’t get a business until in 2014 when the German online bank, Fidor signed up with the team in May of 2014.

Birla said that in those days, the situation was that no one wanted to be the first to sign up with the platform due to regulatory fears. He also said they looked towards Asia when they realized that the first clients wouldn’t come from the United States.  “We realized that like the United States isn’t going to be the first adopter. The regulation in the United States is too tough, the banks were not incentivized to take any risk” he said.

XRP Price

XRP/USD Price Chart, Saturday July 13th:

Ripple News and Price Overview: Ripple Hires Facebook Executive, Appointed A New CTO. Saturday, July 14

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