Ripple has already managed to get increased interest from various institutional investors. This is due to its solutions for cross-border payments which aim to eliminate the flaws that have been plaguing the traditional payments system, SWIFT.
Ripple’s solutions offer a more secure transaction, cheaper, and much faster compared to SWIFT.
Smartereum notes that Ripple’s use cases are not only limited to the financial sector.
They write that Frank Muller who is a Pioneer luxury watchmaker has announced that it would soon use XRP, ETH and more cryptos in its crypto wristwatches.
XRP stored on a crypto watch
The very first model of the watch is called Encrypto, and it’s Bitcoin enabled.
The online publication mentioned above writes that Today’s Gazette noted that the watch is “embedded with two deep cold storage sets and a unique public address.”
The address is etched on the dial, and the dial has been reportedly made “using the same QR code Satoshi Nakamoto used to create the Genesis Block address.”
The watch also has a sealed USB that keeps the private keys. It seems that in the future, the company will also add XRP and more coins.
Supporting crypto adoption
The cold storage is exceptionally secure, and this means that users will not have to be bothered by thoughts about it getting hacked.
Smartereum writes that this watch will be another catalyst that will boost crypto adoption.
The device will definitely bring more awareness of crypto, and a lot of crypto enthusiasts will probably purchase it because we all know that cold storage is the best in terms of safety.
We’ll just have to see the price tag attached to such a device.
In other news, Ripple’s CEO Brad Garlinghouse said that the company is working on expanding xRapid, and this is expected to trigger more adoption for XRP.
Ian Kennedy is the newest contributor to Crypto Daily Gazette. He enjoys running, practicing minimalism and cooking. Ian is a graduate of Wesleyan University in Connecticut where he studied journalism, Arabic and international affairs. Ian mostly covers stories concerning emerging blockchain technology.