According to analysts, Ripple Inc. may be quietly working on an identity solution for digital payments.
- Is Ripple Inc. Focusing on Digital Identity Solutions?
- Decentralization of web3 and fusion of usability of web2
Pseudonymous Ripple and XRP enthusiasts using @WKahneman on Twitter, crypto analysts shared his views on the role of identity development in Ripple’s strategy.
Is Ripple Inc. Focusing on Digital Identity Solutions?
Cryptographic expert @WKahneman told Twitter that the integration of Ripple and PayString digital payment solutions is a sign that the company is taking digital identity solutions seriously.
Learn more about Ripple’s commitment to privacy, identity and paystring. (Remember?) A small weekend reading where I try to compose a story without having all the facts. It may or may not be accurate. But identity / privacy is a valuable internet loose end. 🧵 / 20 pic.twitter.com/T1UaKuAp1D
— WrathofKahneman (@WKahneman) June 11, 2022
He recalled that RippleX’s general manager, Monica Long, named distributed identity among the most important use cases for distributed solutions.
Next, recall Ripple’s efforts to build a payment ecosystem using human-readable IDs. On April 1, 2021, Ripple integrated the PayString protocol into the RippleNet mechanism.
The solution, including payment identity advances, was also one of the winners of Ripple’s University Blockchain Research Initiative (UBRI) Granted Initiative.
Decentralization of web3 and fusion of usability of web2
Last but not least, between 2021 and 2022, former and existing Ripple employees and their colleagues published a number of papers covering the design of future payment identification solutions.
Therefore, the fact that the development of payment IDs has attracted Ripple’s attention is clear to experts.
I think Ripple is working on identity solutions both internally and at UBRI.
As previously mentioned in U.Today, starting yesterday, June 10, 2022, XRP holders can sign in to their XUMM wallet using only their XRPL account address.
This novelty is set to improve the usability of Ripple’s payment system and make it more attractive to cryptocurrency beginners.