Crypto-currencies are in need of a boost at the moment as markets plummeted on Wednesday. Bitcoin led the fall by dropping almost $500 back below $8,000, but nearly all other cryptos suffered as well as bearish sell-offs pushed trade levels lower.
Only a few of them appear to have survived the week without heavy losses, and one is Ripple’s XRP.
That Ripple has so far survived the market downturn may be connected to the San Francisco-based blockchain company on Wednesday announcing that Bill Clinton will be the keynote speaker at its “Swell” conference.
The 42nd POTUS will address Swell – “where the world’s leaders in policy, payments and technology connect” – because, according to Ripple, Clinton has worked towards shaping the internet and “established programs that bridged the digital divide.” These learnings, says Ripple, are “perhaps more relevant now than ever before.”
The Ripple announcement goes onto compare the early growth and adoption of the internet to the current status of the blockchain and crypto-currency industry. “Like the internet boom of the ’90s, we are at an impasse: digital assets and blockchain technology offer a way for value to be exchanged as quickly as information – creating more financial inclusion and economic opportunity.”
Ripple has continued to forge global partnerships across the fintech industry as the firm rolls out a suite of blockchain solutions for faster and more cost effective cross border payments. Its RippleNet system allows payment providers to leverage blockchain technology in a standard format for faster transactions between them. The company now has a number of key financial industry global partners and in Asia this includes major banks in Japan and South Korea.
The Swell conference, held in San Francisco in October, will also feature “financial services companies using blockchain technology in production, new market opportunity in remittances, e-commerce and corporate marketplaces and frameworks for regulating digital assets across Europe, Asia and the Middle East,” according to the post.
After the Swell keynote address, Gene Sperling, National Economic Council Director and Advisor under presidents Clinton and Obama, will moderate a Q&A session with Clinton.