It is evident to anyone willing to educate themselves that Ripple is not targeting the traditional cryptocurrency industry. Instead, the focus on finance allows the company to explore different products and services, including a working capital loan offering.
Ripple attempts to bridge the gap between blockchain and traditional finance.
An Interesting Product by Ripple
So far, these efforts have been relatively successful, although there’s always room for improvement.
In order to do so, the company has now unveiled a brand new venture.
By leveraging blockchain for a working capital loan product, things are heading in an interesting direction.
While the product is far from finished, the company is hiring someone to help develop this service.
For companies, this new service can be of great value.
A working capital loan is a short-term loan to fund company operations.
During and following the coronavirus pandemic, those loans will become of even greater interest.
Whether Ripple can have a product in place before the end of 2020, remains to be determined.
Regardless of any internal timelines, this is still a very interesting route to explore.
The ongoing “revamp” of traditional finance with blockchain will require innovative services and products to be developed, including the ones by Ripple.