Pittmann: Ripple’s software solutions will play a decisive role in the further development of E-Commerce


Ripple is a company, whose products find a wide application in practice. Angefgangen in the case of small to medium-sized companies, to large banks and financial institutions in the world – the use of xRapid or xCurrent are many and varied.

The ehemelige product chief of EBay, and R. J. Pittmann, on the last Swell Konference, Ripple, xRapid and XRP will play a crucial role in the future development of E-Commerce. Currently, only about 10 – 20% of all transactions take place in the USA online, so that the time will come to revolutionize this line of business (freely translated):

We talk about the importance of payments in the future. We are not in the vicinity of the critical mass … we Have the payment infrastructure? We have the scalability? We have the cost models? Because it is hard-fought, if everything is running each individual transaction, each kind of digital.

Pittmann describes, XRP, xCurrent could transform as auc xRapid the industry, since they could be tested as a potential Innovation engine on the planet and in the near future. This includes companies such as EBay, that cross-border payments processes in many countries (freely translated). Especially, it is often a mystery of where the payment is. Through the use of block chain technology buyers and sellers can see exactly how the Status of the shipment as well as the payment is (freely translated):

The buyer would like to know: Has the seller will ship the goods? The seller wants to know: paid by the buyer? Where is the money? Who holds it? In most countries there is PayPal in the middle, but not in all countries. And it is a game a kind of mysterious rate. And it was one of the greatest callers in the Call Center. We had thousands of people in the Call Center to answer the mysterious questions of where my Goods are and where the payment is made. And even if the buyer has paid, that does not necessarily mean that the seller had the money and it was settled. There was a whole other mystery about when exactly this would happen.

From a business perspective, it would be lock wrong the new technologies and opportunities, since in the E-Commerce operating companies in currencies through the use of Crypto and the Blockchain can grow very quickly. Especially the old financial system had become out of date and needs to be optimised through the use of modern technology (freely translated):

The inefficiencies in the processing chain for payments, no matter whether it is global payments across a border, or even credit card bills here in the United States – is it out of date incredibly. It is cost-intensive. And there are reasons for so much Innovation.

And all established companies should not fear to lose one of the eggs you had in the last few decades. Quite to the contrary. It is about the heritage and to open up extraordinary opportunities for growth, in which the size of the cake 5x, 10x will grow, if one penetrates the Numbers today, only online. We have so much room to Grow.

According to the Pittmann the use of innovative technologies, such as Ripple, irreversible, and a logical consequence of the current progress in the financial sector. The detailed presentation is there to see here on Youtube:


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