Ripple Wants to Beat Bitcoin in India, Initially Planned to Giveaway Billions
Ripple (XRP), the largest bank-targeted blockchain protocol, is attempting to take over 50 percent of India’s finance sector by processing payments with low fees and efficient systems. At the Scaling and Digital Disruption in Fintech conference, Ripple Vice President Asheesh Birla, said that the company envisions surpassing the adoption rate of bitcoin to ensure XRP becomes the dominant cryptocurrency in the region. Birla revealed that Ripple planned to giveaway two billion XRP to the entire population of India, to streamline the process of introducing XRP to the nation and encourage the usage of the cryptocurrency. Birla said:“We looked early on at India, and we looked at two billion people – a huge market. And we decided, how do you get two billion people onto Ripple? Do we give the currency away to every Indian, that’s like two billion – just give it away?” Ripple is the 3rd largest cryptocurrency by market cap size. It is up 1.68% over the past 24 hours and is currently trading at $0.442015. It can be bought with fiat dollars, credit cards, or debit cards on cryptocurrency exchanges such as CEX.io and Changelly.