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Banks unlikely to process payments with distributed ledgers for now, says Ripple

June 13, 2018 / Anna Irrera

Banks are unlikely to use distributed ledgers to process cross-border payments for now because of scalability and privacy issues, according to Ripple, one of the most prominent startups developing the technology."I will concede, we haven't gotten there yet," Ripple's chief cryptographer David Schwartz said in an interview. Banks have been vocal about taking steps toward deploying the technology originated from cryptocurrencies to make processes like international payments faster and cheaper.