Swell, a two-day blockchain event hosted by Ripple starts today, Oct. 1, in San Francisco. The highly anticipated event will concentrate on the insights that Ripple’s existing customers will share about its remittance products.
President Clinton’s Speech at Swell Attracts Attention
The event opens with CEO Brad Garlinghouse’s remarks on Ripple’s latest developments, followed by the keynote speech of the most notable attendant, President Bill Clinton, who will share his political views over cryptocurrencies. Swell will also host speakers from the fintech and banking sectors, including Ed Metzger from Banco Santander, Tokunboh Ishmael from Alitheia Capital, and Colin Dinn from Siam Commercial Bank. Also speaking at the event are representatives from regulatory bodies like Ross Leckow, the deputy general counsel at the International Monetary Fund, and Ben Lawsky, the former superintendent of Financial Services for New York.
The event will cover a wide range of topics, spanning from cheaper and faster payments through RippleNet to the mass adoption of cryptocurrencies in the financial service industry. The Swell by Ripple event will be covered by Ripple’s Insights, Twitter, LinkedIn, and Facebook pages, while video recaps will be available on Ripple’s YouTube channel.
The RippleNet Committee Meets Before Swell
Swell follows the meeting of representatives from MUFG Bank, Bank of America Merrill Lynch, WestPac, Standard Chartered, Banco Santander, Siam Commercial Bank, American Express, and SBI, who make up the RippleNet Committee. As RippleNet is still nascent, the committee members gather several times per year to set the rules over the network’s growth and outline a common framework that ensures operational consistency, faster onboarding, and legal clarity for every transaction. According to Ripple:
“These rules are critical to ensuring standardization across the network as it scales rapidly.”
XRP Price Expected to Rise After Swell
The advent of xRapid, a cross-border remittance solution, has spread enthusiasm across the Ripple community. The excitement was also reflected on the XRP token’s price, which surged a few days ago when it momentarily replaced Ethereum (ETH) at the second place of all cryptocurrencies by market capitalization. According to an executive of Ripple, the xRapid will go live in October, and many Ripple enthusiasts expect its announcement during the Swell event. At the time of writing, XRP is trading at $0.57, and it is not far from passing ETH in market cap for the second time. Unlike past Swell events, it remains to be seen whether Swell will meet expectations this year and push the XRP to new highs or not.