Shidan Goran, President and COO of Global Blockchain, the investment company that bought all the Kodak Coin tokens during the presale, said that large banks are not competitors of payment services like Ripple and Bitcoin. On the contrary, banks closely monitor the development of these technologies.
If big banks were to succeed in crushing one of these two currencies, Ripple would be it. The main reason for this is because Ripple is much more of a direct competitor to banks. Because it operates more like a transaction network than a currency, it’s a lot more plausible that they will be a target for banks to get tough with. Whereas because Bitcoin operates more like a currency, they don’t pose the same threat.
COO, Global Blockchain
Ripple too is now considered as an opportunity for banks rather than a threat.
I believe Ripple offers a viable blockchain solution and an enormous amount of utility to banks. As such, I do not believe that big banks will necessarily crush either Ripple or Bitcoin for that matter. While banks are actively investing in and working to develop blockchain-based solutions, it’s going to take a bit more time for banks to come around to the idea of relying on a cryptocurrency and for the industry to become more established. I believe banks are keeping a close eye on Ripple. This isn’t going to happen overnight.
Chief Executive Officer, CrowdfundX
As experts believe, in spite of the increasing adoption of the blockchain technology behind BTC and XRP by the big banks, it does not constitute a direct connect to the price of the two cryptocurrencies.