Real-time payments | Navin Gupta, Ripple | VOX Ep. 32

Today in many countries we can send a payment locally with just a phone number or email address – so why can’t companies do the same internationally?

Navin Gupta, MD of Ripple for South Asia and MENA, speaks with DigFin’s Jame DiBiasio about the technological and business race to solve this massive problem.

He talks about the challenges, the benefits of a blockchain-based solution, the impact if we see central-bank digital currencies appear, dealing with regulators, and Ripple’s progress.

• Timecodes:
• 0:00 – Navin Gupta, Ripple and his career in banking, startups, and tech
• 3:15 – Trends in global payments, demand for instant settlements for crossborder transactions
• 4:34 – Why do we need blockchain for this problem, benefits of decentralization, combing messaging with value transfer
• 6:44 – Ripple’s consensus mechanism, just how decentralized is it, its service offering, impact on liquidity
• 10:26 – Is there value for banks to retain their nostro/vostro correspondent accounts if they have RTGS?
• 12:13 – Does RTGS require a cryptocurrency to operate, how does this scale the network
• 14:40 – Impact on Ripple’s model if central banks issue digital currencies
• 16:47 – Aftermath of this year’s crypto meltdown on regulation, due diligence
• 19:31 – What’s “good” regulation mean? Examples?
• 22:16 – Bank adoption of RippleNet versus use by fintechs
• 24:23 – Ripple’s legal battle with the US SEC over XRP
• 25:33 – Asia markets where Ripple is gaining traction, or not
• 26:55 – How long until large crossborder payments are just one click?
• 29:40 – Reaching escape velocity