Ripple Labs, the financial technology company behind the digital currency trading under the XRP symbol, is not showing any signs of slowing down their business development plans in 2019. As of March 12, Ripple Labs has managed to strike agreements with 19 financial services firm to integrate XRP into their operations; most of them intend to use the token for international payments and remittances, but one pending deal could actually involve XRP circulation for online retail payments.
Some of the biggest names using XRP are cryptocurrency exchanges such as Bittrex and Bitstamp; by taking advantage of the xRapid platform developed by Ripple Labs, international account holders and traders can enjoy faster withdrawals in their local currencies. Other xRapid customers are money transfer companies that compete against the likes of Western Union, a financial services giant that has already tested XRP. but one of the most interesting future XRP partnerships involves video gaming.
The Developments of Ripple Blockchain Integration
According to a recent announcement made by Ripple Labs, the time has come for a full integration of blockchain technology into gaming; for this reason, the company is setting up a $100 million fund for developers to create digital marketplaces within video games. The active partner in this project is Forte, a company recently launched by various video game industry executives interested in building actual economies within specific titles. It is important to remember that video games were handling digital currency transactions long before Bitcoin and even XRP came around; in 2003, the Korean massively multiplayer online role playing game “Maple Story” featured advanced in-app transactions with tokens created within the game. By the time World of Warcraft and its “Gold” currency came on the scene, game developers were already challenged to create virtual economies.
Ripple Labs will not be an innovator in the field of virtual gaming economies; the online trading game known as “Crypto Kitties,” which enjoyed significant attention in late 2017, actually ran on an Ethereum blockchain that was poorly implemented in some aspects, and this resulted in a congested ledger. Through its new Xpring platform and partnership with Forte, Ripple Labs seeks to create blockchains that can support complex in-game economies and even interact with other games. Something that has not been determined at this time is whether XRP should be used for gaming purposes; however, there are many signs pointing in this direction.