The former head of eBay products, R. J. Pittman (R. J. Pittman), announced its support for Ripple and its development. At the conference Swell 2018, held in San Francisco, Pittman shared the opinion that technology Ripple will play a key role in the development of e-Commerce.
“We are talking about the importance of payment systems in the future. While we are far from critical mass. Do we have the solution for scalability? Is there any infrastructure? Ready cost model? Those are the things that need to consider because the competition will be very high when all transactions will be done digitally”.
According to Pittman, technology and Ripple xCurrent xRapid can become a solution to convert global payment systems of companies such as eBay.
“Buyers are interested in, sent them the order. The seller interest is paid whether the goods by the buyer. Where the money was kept? PayPal is available in most countries but not all. And it’s kind of a guessing game. We in the contact center were thousands of people who had to answer strange questions about the goods and the functioning of the payment system. When a buyer makes a payment, this does not mean that the seller received the money, and it’s done”.
“Of course, the use of technology Ripple is a step in the right direction for companies like ours. We cooperate with many buyers and sellers from 190 countries, so we need new, more effective solutions. We need to focus on getting rid of all sorts of “irregularities” to make full use of the revolutionary potential of this technology. The blockchain is able to completely rebuild the financial architecture eBay”.
Pittman believes that people are afraid of change. However, it encourages e-Commerce sites and payment systems to recognize the progress made with the development of cryptocurrency and the blockchain.
“Traditional payment systems are imperfect. Simple calculations on loans and cross-border payments are inefficient, expensive and slow. There is a place for innovation,” concluded Pittman.
It should be noted that the opinion of Pittman on the future of Ripple is largely in line with the vision of the company. So, in a recent interview with Techonomy, head of business unit market strategies Ripple Cory Johnson (Cory Johnson) said that Ripple XRP will become the basis for a new dedicated payment layer of the Internet.