Crypto Expert Panos Offers Crypto As Substitute To Banks

Coin Edition
Coin Edition

18 Sep 2023 11:01 AM

Blockchain expert Panos tweeted that Ripple can offer a substitute for present financial institutions that manipulate markets during weekend closures....

  • Anodos Finance founder Panos discussed the challenges posed by bank and market closures for businesses and individuals.
  • He highlighted blockchain and crypto as potential solutions, specifically mentioning Ripple's contribution to the sector.
  • Panos emphasized that banking and market closures disrupt cross-border payments and can lead to financial losses for businesses.
  • He also mentioned that banks can manipulate markets during closure periods, potentially disadvantaging retail investors.
  • Panos suggested that blockchain and crypto markets, which operate all year round, can process transactions beyond time restrictions.
  • He pitched Ripple's XRP as a major player offering this solution.
  • However, Ripple's CEO labeled the US as the "worst nation" for a crypto launch due to legal challenges from the SEC.
  • The company's primary hiring focus in 2023 will be on countries outside of the United States.
  • Ripple is working on revolutionizing decentralized finance (DeFi) with concepts like single-sided deposits within XRPL's AMMs.

The overall sentiment of the article is mixed. Panos highlights the challenges posed by bank and market closures and suggests blockchain and crypto as solutions. However, Ripple's CEO expresses frustration with legal challenges in the US.

Go to publisher site

You May Ask

What challenges do bank and market closures pose for businesses and individuals?How can blockchain and crypto solve the challenges caused by closures?Why did Ripple's CEO label the US as the "worst nation" for a crypto launch?What is Ripple doing to revolutionize decentralized finance (DeFi)?What concept did Neil Hartner unveil for XRPL's AMMs?

Suggested Reads