Ripple Welcomes Former Facebook Executive as the New Senior VP

Ripple Welcomes Former Facebook Executive as the New Senior VP

Ripple News
July 13, 2018 by Editor's Desk
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According to an official proclamation on July 11, Kahina Van Dyke was welcomed as the new senior VP of business and corporate advancement of Ripple which is the organization behind the third biggest cryptocurrency by market cap. With over 20 long years of experience in finance and banking, Van Dyke has held notable positions at
Ripple

According to an official proclamation on July 11, Kahina Van Dyke was welcomed as the new senior VP of business and corporate advancement of Ripple which is the organization behind the third biggest cryptocurrency by market cap.

With over 20 long years of experience in finance and banking, Van Dyke has held notable positions at Mastercard and Facebook. For over two years, Van Dyke had worked as Global Director of Financial Services and Payment Partnerships at Facebook where she was developing new installment arrangements and financial solutions, as stated on her LinkedIn profile.

At the new position, Van Dyke will be in charge of furnishing Ripple with vital partnerships for universal financial administrations, concentrating on the advancement of “a new global technology solution for international payments. In an official statement, she said ” Van Dyke has joined Ripple to “[eliminate] the contact in cross-fringe installments” by “setting up associations and applying innovation to change an industry.”

Van Dyke said that the current worldwide installment framework, which was fabricated just about 40 years back, “no longer meet[s] the constant needs of business today.”. There should be arrangements made for agile and hassle-free cross-border payments.

At the point when asked what is “the most challenging issue in payments today,” Van Dyke noticed the obsolete arrangement of cross-fringe exchanges, guaranteeing that it is “one of the most complex and multifaceted problems in payments.”

Van Dyke focused on the need to give organizations, and people, with a method for executing “small and large amounts of money faster and at lower cost,” expressing that the framework should be “more nimble and transparent” than the one produced for huge corporate exchanges “decades past.”

Referring to low scalability and protection issues, Ripple chief cryptographer David Schwartz asserted that banks are probably not going to utilize the cryptocurrencies underlying innovation of Blockchain to process international payments.

According to a press release on July 9, a joint report by Imperial College and U.K. trading platform eToro expressed that crypto money like Bitcoin (BTC) can possibly turn into a standard method for payments, especially in light of their capacity to enhance the cross-border payment system.

Professor William Knottenbelt from Imperial said – “The world of cryptocurrency is evolving as rapidly as the considerable collection of confusing terminology that accompanies it. These decentralized technologies have the potential to upend everything we thought we knew about the nature of financial systems and financial assets.” Adding to which he said- “In this context, we wanted to get back to basics: clarifying the nature of cryptocurrencies as a new kind of asset class, contrasting them with traditional forms of wealth, and classifying the main challenges that need to be overcome in order to drive their success forward. There’s a lot of skepticism over cryptocurrencies and how they could ever become a day-to-day payment system used by the man on the street. In this research, we show that cryptocurrencies have already made significant headway towards fulfilling the criteria for becoming a widely accepted method of payment.”

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