Ripple: Bahrain and Abu Dhabi are front runners in developing crypto-regulations, claims Dilip Rao

2019-5-7 17:00

Ripple continued its strong performance in 2019 after the organization recently conducted its final Ripple Regionals event in Dubai. The event was attended by over 100 ripple users from across the world, with the community coming together to share their ideas and experiences based around RippleNet.

On a recent episode of the Ripple Drop, Reindhard Cate interviewed one of Ripple’s senior employees, Amy Hirth.

Amy Hirth, Senior Associate for Global Events, Ripple, explained that the current Ripple Regionals event was inspired by a previous event organized by Ripple. The idea of bringing together localized people from the Ripple community gained a lot of traction and made the sharing of significant practices in organizations very exciting, she stated.

She added,

“The regionals have been just an incredible opportunity to build momentum for what I like to call the big dog which is swell.  We are gonna see corners of the entire globe coming together in one place.”

Reinhard Cate also spoke to Dilip Rao, Global Head of Infrastructure Innovation, to discuss Ripple’s current scenario with centralized institutions like banks.

Dilip explained that Ripple was communicating with central banks around the world because centrals banks were regulators of their own financial ecosystems and operated their separate payment systems in their respective countries. In order to develop new technologies such as RippleNet within the system, it was essential to interact and act as an catalyst to bring out innovation.

Dilip Rao added,

“I am more interested in getting central banks to interact with DLT [Distributed Ledger Technology] and with crypto assets and that makes a big difference in adoption of these technologies here.”

Finally, he concluded by saying that Bahrain and Abu Dhabi global markets were leading the world in the development of regulatory frameworks for the adoption of virtual currencies, each essential to the future of the crypto ecosystem.

The post Ripple: Bahrain and Abu Dhabi are front runners in developing crypto-regulations, claims Dilip Rao appeared first on AMBCrypto.

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