Ripple has appointed Amir Sarhangi as Vice President of Products.
He joins from Google where he had been working on the roll-out of a new wireless messaging system. He will now head up the development of global payments network, RippleNet.
The adoption of blockchain-based global payments is reaching critical mass this year, and organisations worldwide are already looking to incorporate digital assets into payment flows.
That was a key takeaway from Ripple’s first Blockchain in Payments Report, unveiled at the Swell 2018 conference last month. “There’s a lot of money at stake,” commented Cory Johnson, Chief Market Strategist at Ripple.
Data from The Boston Consulting Group (BCG) puts the size of the global market for cross-border payments volume at $27 trillion. Another $20 trillion in growth could be up for grabs between 2018 and 2026. Combine this with recent data from the World Bank suggesting global remittances alone will reach $642 billion this year.
Johnson added: “The world is used to getting things, right now, on-demand. They aren’t waiting for anything. When we look at blockchain and the solutions it offers in cross-border payments, we have an opportunity to address their needs.”