Ripple’s Monica Long on how businesses can weave blockchain technology into their way of working – and where cryptocurrencies fit in…
by Manoj Sharma for CNR
Though the value of major cryptocurrencies has greatly cooled off in 2018, the digital finance revolution is still in huge demand. Many businesses are jumping on the blockchain technology bandwagon, and many financial institutions are slowly taking interest in the cryptocurrency system as well.
The senior vice-president of Marketing and Communication for Ripple, Monica Long, has now sharedher thoughts on how companies can incorporate blockchain technology into their systems in a new interview. Long suggests in it that businesses should understand their target demographic and see if these technologies can help them or not.
She noted that “it’s important to remember that you don’t need the Blockchain for everything. While some may be tempted to jump in for the buzz, building a long-term and trusted brand means focusing on solving real-world problems for customers; not jumping on the latest bandwagon.”
Long suggests that businesses should get involved in the crypto community by placing dedicated resources on popular crypto-themed forums. She also suggests zeroing in on customers who wish to see their company offer crypto payment methods.
The Ripple VP also stated her belief that businesses should begin accepting digital currencies once they believe cryptos are the future. She does promote caution in ensuring that they select the right exchange for any such transactions. She also stressed the transparency between the platform and the users to create trust.
It’s interesting that she feels that not every business will benefit from adopting blockchain technology and cryptocurrencies.