It’s that time of the year again and the rumors are flying as SIBOS 2019 is approaching. Is Ripple being at SIBOS really a big deal like people are making it out to be? Let us dig into it.
We dated back to the past 2 SIBOS events and Ripple was in attendance for both. The 2017 SIBOS event really stands out to us and Ripple was not only in attendance at the 2017 event, but they took over a venue about a mile away for its own program which opened with a chat between Gene Sperling, the White House economic advisor to presidents Clinton and Obama and Ben Bernanke, former chairman head of the Federal Reserve. Sterling directed questions to Bernanke and they chatted about their meetings during the economic crisis. Ripple ran shuttles back and forth from SIBOS in 2017 to there venue. The reason for Ripple renting their own venue was because they wanted more floor space at SIBOS but were not granted the extra room.
As we looked into SIBOS 2018, we were not surprised to see Ripple in attendance as well. Ripple had a large space at SIBOS 2018 where they were able to showcase the future of cross border payments. At SIBOS 2018, Ripple was showing off how they use their technology to send money globally using blockchain technology. Ripple did not have any key speakers at SIBOS 2018, but they did get to show off their products in a showing of “Enabling the Digitial Economy”.
So as SIBOS 2019 approaches, just a couple weeks away the twitter rumor news is starting to pick up and the hype is out in full force. So back to the original question – Is Ripple being at SIBOS 2019 really a big deal? Yes and No. Let me explain. This is not the 1st or the last time Ripple will be present at SIBOS. Sibos, after all, is an annual banking and financial conference so it only makes sense for Ripple to be in the present as they are trying to solve a trillion-dollar cross border payments problem. At this year SIBOS Ripple will host a presentation in the South Exhibition hall speaking on the future of cross-border payments.
In today’s digital age, consumers expect more from their tech and demand experiences that are fast, convenient, and frictionless. Yet, in an era dominated by connectivity, cross-border payments have struggled to meet customer expectations and financial institutions are scrambling to address the unmet needs of today’s consumer. Managing Director of MENA and South Asia for Ripple, Navin Gupta can discuss the future of digital assets, and innovations in cross-border payments that are revolutionizing the payments industry by making transactions faster and less expensive. Specifically, Navin can speak to Ripple’s partnerships with companies such MoneyGram to turn on on-demand liquidity for cross-border money transfers, and how these partnerships solve fundamental issues with liquidity management for business and payments—today and in years to come.
So at the end of the day yes this is great news, but this isn’t the 1st time that Ripple is has been invited to SIBOS and nor will it be the last. If anything, the bigger story would have been if Ripple wasnt invited.