SBI Virtual Currencies, The Sleeping Dragon.
After what seemed a century-long wait since the early period of 2017's announcement and arguably a rather low-key build-up to the launch day, SBI Virtual Currencies has officially commenced trading for the first 20,000 or so pre-registered individuals who have been anticipating the successful release of SBI Virtual Currencies ever since Ripple joined forces with SBI Holdings Group around 2 years ago. Throughout this period, Ripple has managed to amass a whopping consortium of over 61 banks chained to SBI Holdings in hopes that XRP will become the staple payment protocol for cross-border transactions between these banks and as of now, Brad Garlinghouse's optimism towards this launch was reflected heavily in a recent interview where he stated by 2019 a majority of the world banks will be using XRP directly or indirectly through xRapid. A statement that powerful from such a heavily respected figure in the cryptocurrency industry should not be taken lightly, considering his reputation and business would be in clear jeopardy if this was just a price-pump message to the beloved XRP hodlers, something Ripple have prided themselves upon to never participate in and so far, everything Brad has promised has manifested into a reality.
With all of these exciting developments underway, it's only logical to understand why SBI Holdings Group decided to launch a cryptocurrency exchange with XRP as its initial asset for transfer with intentions to make this the staple for the entire exchange even after the next crypto - Bitcoin Cash will be listed. Whilst the media hype wasn't the greatest, this shouldn't take away from the revolution that's taking place beneath our prying eyes. Japan - the native country of SBI, is home to over 3.5Million crypto traders and investors, all hungry for a piece of the pie and an even easier platform and accessible route to buy and trade cryptocurrencies. SBI Virtual Currencies bridges this missing chunk in the market and is set to launch publically to this demographic in around 1 month from the time of the pre-registered launch for select individuals. What's important to note is this is not just another gimmick exchange opening up for trading, this is one of the first real professional and institutional level exchanges to open in the crypto market, which in itself is something remarkable to see, however, when you account for the banking partners nearing the 100's, the dead seriousness of XRP's utilisation and adoption, you start to understand that this is one of the greatest gateways for public acknowledgment of the XRP protocol and its power to revolutionise the market.
As more exchanges inevitably open over the next few years and banking partnerships grow, those who have chosen to leave behind technology like Ripple's and XRP's will be long-forgotten in comparison to those who have jumped onboard the train and adoption early. As more users begin using interfaces and platforms powered by Ripple and its technology, there will be no going back. Many companies will be forced to adopt the systems otherwise they face the consequences of slower transactions both internally and cross-border, potentially losing millions of customers in the process as payments averaging less than 5 seconds become a global standard. Times are changing and many are remaining ignorant to what lies around the corner in terms of revolutionary changes to society, financial sectors and the remainder of industries shifting to blockchain technology. Time will reveal all, but I most certainly have my bets on Ripple and XRP surpassing the majority of cryptocurrencies with adoption and longevity.
If you're invested in this and expected the overnight riches that have become attached to many altcoins, you're in for a bit of a reality check. Traditional banking systems are now prehistoric, but the issue is 99.9% of them still follow the old business model. Change isn't easy, it happens over time through trial and error, fortunately, Ripple has been working on this for several years and we're finally nearing the stages where a domino effect will initiate from the very first major public-adoption of XRP. This is a long-term play, if you're not comfortable waiting several years for the opportunity to be at the forefront of the global shift to blockchain technology and catch the goliath move that's slowly erupting from the ground-level, then I'm afraid you may be in for quite a shock when XRP propels and never returns to these levels again. Embrace these days of pennies and cents per XRP, they won't be around for long.