Ripple is providing money transfer solutions across the world at an unprecedented efficeiency unknown in the cross-border money transfer ecosystem. It is cheap, it is fast and it is safe.
The good thing is, big financial solution providers such as banks and money transfers agencies get to be the primary adopters. So that means most people don’t have to bother if transfers are done with Ripple or not.
Can Ripple be adopted in Nigeria? I feel its a matter of policy.
First, the Central Bank needs to churn out more support policies and recommendations to the National Assembly on cryptocurrencies and blockchain technology.
If the governing bodies in the country show more interest and some respect for the new industry, the banks will be freer to adopt new strategies that are already taking the rest of the world by storm.
Will it makes sense for Ripple to be adopted in Nigeria? Well, think about the millions of families with relatives abroad. The profit for both Nigerians and Nigeria will be huge.