Blockchain

Ripple raids Google for VP of Products role

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.

Critical mass

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.”

Scott Thompson

Scott has been working in technology and business journalism for nearly 20 years, with a focus on FinTech, retail, payments and disruptive technology. He has been Editor of such titles as FStech, Retail Systems and IBS Journal and also contributed to the likes of Retail Technology Innovation Hub, PaymentEye, bobsguide, Essential Retail, Open Banking Hub, TechHQ and Internet of Business.

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