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Cryptocurrency Ecosystem => Other Popular Cryptos / Coins => XRP - Ripple Forum => Topic started by: Geey on May 13, 2020, 04:03:41 PM

Title: Ripple Seems to Be Developing a Blockchain-Based Working Capital Loans Product
Post by: Geey on May 13, 2020, 04:03:41 PM

A recent job listing at blockchain-based payments firm Ripple indicates that it is working on a working capital loan product.

(https://images.cointelegraph.com/images/960_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS9zdG9yYWdlL3VwbG9hZHMvdmlldy80YWEyMWE4YmJjMWM0MzAwNGQzODQ5N2Q2OTYxYjAzMi5qcGc=.jpg)

The blockchain-based payment network Ripple recently added a job opening on its official website for a “Director of Product Management, Loans.”

The description indicates that Ripple is working on a new loan product to help its customers with working capital loans.

Working capital loans are loans companies take to financially support their everyday operations in the short term.

A blockchain-based loan product could potentially shorten the time for companies to avail capital loans, reduce paperwork, and improve transparency and accountability between the involved parties. Considering Ripple’s wide reach across major financial institutions, this could be a huge benefit for companies seeking working capital loans. Read More (https://cointelegraph.com/news/ripple-seems-to-be-developing-a-blockchain-based-working-capital-loans-product?utm_source=Telegram&utm_medium=social)

Title: Re: Ripple Seems to Be Developing a Blockchain-Based Working Capital Loans Product
Post by: damsix on May 15, 2020, 09:57:43 AM

It's great if Ripple wants to create something like this because it certainly has good goals and functions for Ripple in the future.

Creating a lending business is the same thing as a Conventional Bank and this is definitely a little connection for Ripple's profits.
Like Ripple, all systems will be the same as conventional banks and this has been stated since 2017.