By
Temitope Olatunji
April 24th, 2024
Being known as a company developing payment solutions, Ripple may soon enter the gaming industry, as its CEO mentioned games build on the XRP Ledger.
Ripple is definitely one of the companies that never stop making headlines. It is actively expanding its products and services making them available and interesting for new audiences.
Today the world is speaking about Ripple as it has announced its plans to enter the gaming industry. For the payment company that used to be associated with the financial industry, it’s quite an unexpected scenario.
XRP Ledger Games
Last week, speaking at the World Economic Forum in Davos, Ripple’s CEO Brad Garlighouse mentioned that the XRP Ledger is currently accommodating the creation of games on the network.
The announcement was made in the framework of the panel discussion devoted to a number of topics from payment solutions to games on the blockchain. Garlighouse took part in this discussion together with Brian Behlendorf of Ethereum and Joseph Lubin of ConsenSys.
After the question of the role of blockchain in the gaming industry, the discussion was switched to the concept of building games powered by blockchain.
Garlighouse stated:
“I think this is one area where blockchain use is underhyped… it is incredibly interesting in terms of which underlying blockchain is most efficient… I think there’s a couple being built upon the XRP Ledger and I think it’s gonna be a very interesting space to watch in 2019.”
Though for the majority of the audience it may have sounded really surprising, there are some facts to prove that Garlinghouse had all grounds to say so. It is just needed to analyze the history of the company a little bit.
Strategic Partnerships
Ripple established a partnership with Microsoft in 2015 that has already its Azure Blockchain as a Service in effect. It focuses on payments which seems to have some obvious connection with Ripple’s Interledger Protocol.
Moreover, there is an enterprise blockchain software firm known as R3. It has more than 300 partners and Microsoft is one of them. R3 offers its customers an opportunity to use their Corda Network and CorDapps to build an ecosystem for instant and absolutely easy payments.
Another partnership that can prove the reality of the plans announced by Ripple’s CEO is their cooperation with GSR, a firm that deals with electronic trading of digital assets.
Cristian Gil, GSR’s CEO, has already expressed his interest towards the gaming industry, explaining that blockchain technology could revolutionize it. He also noted that at the moment there are no platforms for making in-game purchases that gamers could fully rely on.
He added:
“I guess it was a natural next step to use Ripple protocol to allow the users, the citizen of Beach Head to trade these different digital assets.”
More Regulation
It’s also worth mentioning that Brad Garlighouse spoke not only about gaming. He also noted that blockchain-related companies need more regulation and clarifications involving crypto and their tech.
Moreover, he made a prediction for 2019, saying that traditional banks would become more involved in the crypto sphere.
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