Ripple’s Chief Technology Officer, David Schwartz, has expressed growing dissatisfaction with the pace at which traditional banks are adopting innovative financial technologies. According to a video shared by crypto influencer Lord XRP (@Bitforcoinz), Schwartz revealed that while Ripple initially focused on forming partnerships with banks, the strategy has delivered underwhelming results due to their slow-moving nature.
Schwartz stated that banks are highly conservative and hesitant to embrace change. While dealings with banks get attention, these usually end without major advancements. He pointed out that Ripple’s initial strategy was based on making partnerships with major banks, but the results usually clashed with what the company wanted to achieve.
He noted that banks often do not fully employ Ripple’s potential because of their own inefficiencies. When XRP is used, the weaknesses are usually highlighted, which can lead others to resist more. Because of this, Ripple’s program to reform the remittance industry by using quick and streamlined methods has been delayed.
Instead of clinging to these traditional institutions, Schwartz confirmed that Ripple is now focused on practical adoption. The company has started prioritizing partners capable of moving large sums of money without delay. Schwartz noted that Ripple wants to drive real transaction volume, not just headline-worthy deals.
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Ripple Adjusts Focus to Real-World Use Cases and Scalable Growth
In his comments, Schwartz acknowledged that the desire for visibility drove the early focus on banks. However, the company’s vision has shifted toward scalability and measurable utility. Ripple is now seeking purpose-driven partnerships that support its mission to simplify global payments using XRP.
Even though some banks still work with the XRP Ledger, Schwartz demonstrated that Ripple does not depend on these partnerships as it once did. The organization is looking for people who can act quickly and are open to new ideas.
He discussed the idea that some XRP followers believe Ripple may be a better alternative to SWIFT. However, for such change to happen, well-established networks need to be more transparent and accountable, which is not yet the case for many.
The company is focusing more on getting its cryptocurrency adopted than on public relations. Schwartz explained that the company is looking for agile partners who are eager to partner, grow fast, and use all the advantages of XRP.
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