TLDR
- Patrick Bet-David described SWIFT as outdated technology during his popular PBD Podcast episode.
- Bet-David praised XRP as a next-generation payment solution for global financial transactions.
- Crypto analyst Ripple Van Winkle highlighted that Bet-David’s comments deserve more industry attention.
- The SWIFT network was established in the 1970s and relies on legacy infrastructure.
- XRP provides instant settlement without requiring intermediaries or expensive wire transfer fees.
Entrepreneur Patrick Bet-David called SWIFT outdated during his podcast and praised XRP as the future of payments. Crypto analyst Ripple Van Winkle shared Bet-David’s comments, noting that they deserve more attention from financial communities. The discussion highlights XRP’s growing role in transforming cross-border transactions worldwide.
XRP Offers Speed and Cost Advantages Over SWIFT
Bet-David described the SWIFT network as obsolete technology that no longer meets modern payment needs. He emphasized that XRP provides instant settlement without requiring intermediaries or expensive wire transfer fees. The SWIFT system was established in the 1970s and relies on legacy infrastructure that delays transactions.
Van Winkle explained that Ripple’s blockchain eliminates inefficiencies present in traditional banking systems. XRP enables real-time global transfers, significantly reducing costs compared to conventional methods. More than one hundred financial institutions now use or test RippleNet for international payments.
The network operates as a scalable infrastructure rather than an experimental technology. Financial organizations have adopted XRP because it solves persistent problems in cross-border settlement processes. Transaction speed and lower costs make XRP an attractive alternative to existing payment rails.
XRP Powers Real-World Transactions Through RippleNet
Each transaction on RippleNet uses XRP as a bridge currency for instant liquidity between different markets. Van Winkle noted that XRP serves practical functions rather than purely speculative purposes in financial systems. The digital asset facilitates the transfer of actual value across borders on a daily basis for businesses and financial institutions.
RippleNet’s performance has validated blockchain solutions as viable replacements for traditional payment networks. Van Winkle stated that this represents a foundational shift in how global money transfers work. XRP adoption continues to expand as more institutions recognize its utility for international settlements.
Bet-David’s endorsement reflects broader industry recognition that blockchain technology can redefine financial infrastructure. Traditional networks maintain dominance currently but face increasing competition from efficient blockchain-based alternatives. XRP demonstrates that digital assets can deliver measurable improvements in speed and cost for payments.
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