IDC Report Highlights Ripple as Banking Industry Solution




The International Data Corporation

A new report released by the International Data Corporation (IDC) presents research supporting Ripple, and placing our technology at the forefront of a developing shift toward distributed databases for financial institutions.

The abstract summarizes the IDC’s findings:

“IDC expects that payments through Ripple or similar protocols will grow exponentially in the years ahead. As such protocols supersede Bitcoin, the distinction between cryptocurrencies and new payment protocols will become clearer, and the banking industry will embrace the protocols. Thanks to the support of Ripple Labs and other interested parties, Ripple is currently best placed to take this market share. In the short term, more parties will undergo pilot and proof of concept projects, and domestic banks are likely to partner with counterparts overseas for the purpose. There will be an initial opportunity for banks or companies like Earthport to charge clients for the ability to make instant global payments, especially as IDC expects initially that Ripple will be adopted not as an industry-wide solution like UK Faster Payments, but by innovative banks.”

The abstract is available here. The whole article is available for purchase or to subscribers to IDC Financial Insights: European Banking IT Strategies.

The IDC is a provider of market research and advisory services on information technology and telecommunications. It is a wholly-owned subsidiary of International Data Group (IDG).

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