Here’s How Ripple Faced Up to Questioning at a UK Parliament Blockchain Hearing

A UK government hearing was held yesterday aimed to inform regulators about the nature of blockchain and cryptocurrencies. Four panelists sat in front of the UK treasury committee, but it was Ripple’s Director of Regulatory Relations Ryan Zagone who took the most of the spotlight – and the accompanying heat. The committee and other panelists had a lot of questions and statements to make about Ripple as a company and the work being done with banks to create a cross-border payment solution. When asked how Ripple was making use of blockchain, Mr. Zagone stated the following: “We focus on cross-border payments where to date privacy was a painful process. Cross-border payment would take two days, you wouldn’t be able to track the payment and you wouldn’t know the fees upfront. So, it wasn’t until two days you’d find out how much was taken out as a fee. […] “You could…

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