XRP Adoption Through Financial Institutions
The mass adoption of XRP does not require billions of people to interact with its ledger directly. Financial institutions can use the Ripple protocol behind the scenes while customers continue using their existing banking services.
According to a research document shared by crypto researcher SMQKE, financial institutions serve as gateways, providing access for funds to enter and exit the network. They handle the complexity on the backend, so their customers never interact with the ledger directly.
The Ripple protocol is designed to transfer any virtual liability anywhere in the world within six seconds. Those liabilities can represent Euros, Dollars, Pounds, barrels of oil, hours of electricity, or services. XRP itself is the exception as Ripple's native cryptocurrency.