Ripple
Fff 1

Juniper Research: B2B Cross Border Payments to Boom on Blockchain

November 6, 2019 | Digital Assets, Investments, News

A new report suggests mind-blowing growth on blockchain payments.

Juniper Research predicts that B2B cross-border payments on Blockchain platforms like Ripple will boom over the next five years. The report suggests that these payments will boom from $171 billion this year to $4.4 trillion by 2024.

“The implementation of blockchain is part of a wider strategy for financial institutions to digitally transform operations,” said report author Dr. Morgane Kimmich. “Blockchain will enable stakeholders to reduce operational costs in a competitive market that is becoming increasingly commoditized”.

The report also suggests that Blockchain systems will save banking institutions at least $7 billion through 2024. The report also conducted a study of 15 blockchain vendors and scored these firms’ marketing, customer solutions, and general experience.

Juniper Research ranked the following companies in the top five.

  1. IBM thanks to its diverse blockchain products and strong client base;
  2. Infosys Finacle for its financial solutions and global partnerships;
  3. Guardtime;
  4. R3; and,
  5. Ripple

Juniper Research Talks Ripple

The report states that Ripple has been the leader in cross-border blockchain payments since 2012. It now has more than 200 financial institution partners this year.

The report comes the same week that Ripple CEO Brad Garlinghouse made a major prediction about cryptocurrencies and blockchain. Garlinghouse said that 99% of all cryptocurrencies will be worthless in the future.

“There are more than 3,000 different digital assets that are traded daily,” he said. “I have said before that I think 99 percent of all crypto is likely to go to zero, but there is that one percent that is aimed at solving real problems for real customers and can do that on a scale, and that will be groundbreaking.”

Related: Ripple’s Blockchain to Support Finastra’s Cross-Border Payments

Authored by

Garrett Baldwin

Garrett Baldwin is an economist, financial writer, and mathematician. He has an extended history of financial analysis, journalism, public relations and consulting experience in hedge funds, private equity, blockchain, housing policy, supply chains, an …

Garrett Baldwin Read More »

More by Garrett Baldwin

Fff

DailyAlts Newsletters

comment-dollar
Subscribe to DailyAlts Newsletters. Get breaking alternatives investment news, insight, and commentary right to your inbox.

Other Articles by Author

No items found

Latest Investment News

Digital Assets: The Digital Dollar Foundation and Accenture Launch the Digital Dollar Project
January 17, 2020     Digital Assets, News

J. Christopher Giancarlo, former Chair of the Commodity Futures Trading Commission (CFTC), along with Charles Giancarlo and Daniel Gorfine, have joined hands with Accenture on the digital dollar, or US…

Digital Assets: In Reforms Push, China Mulling Rules for New Digital Banks, Including by Foreigners
January 17, 2020     Digital Assets, Regulations

China is working on guidelines for the establishment of online-only banks. Chinese regulators are pushing for the establishment of new, 100% digital banks to reduce risk in the country’s financial…

ESG: Cerulli Report Says 2020 To Be “Pivotal” For Retail ESG Investing
January 17, 2020     ESG and Sustainability, Special Reports

New regulations, products, and money will make 2020 a banner year for ESG in Europe Sustainable and responsible investing around the themes of Environment-Social-Governance (ESG) will come into its own…

The DailyAlts Playbook: Short Strategies for Tesla and Apple, where Ken Griffin was on Wednesday, Kyle Bass’ Hong Kong Worries, and the GAO’s Statement on Donald Trump
January 17, 2020     Investments, News, The DailyAlts Playbook

Today, the DailyAlts Playbook talks about short strategies for Tesla and Apple,  where Ken Griffin was on Wednesday, Kyle Bass’ Hong Kong worries, and the GAO’s statement on Donald Trump.