ECB tells Banks to embrace instant payments to beat Bitcoin at Conference – Ripple in Attendance!

http://www.ThinkingCrypto.com European Central Bank and Banca d’Italia joint conference held on November 30th and December 1st in Rome, Italy. “Digital transformation of the retail payments ecosystem” Yves Mersch, a member of the ECB’s executive board, was dismissive of these digital tokens but he urged commercial banks to provide an alternative. “Banks need to implement instant payments as soon as possible and provide an alternative narrative to the ongoing public debate on the alleged innovation brought by virtual currency schemes,” Private digital currencies are a source of worry for central bankers because they threaten their control of the banking system and money supply, which could undermine the monetary policies they use to manage inflation. Ripple had representation at the conference, Marcus Treacher, Global Head of Strategic Accounts at Ripple was in attendance. He was part of a panel discussion. No other crypto was in attendance, this shows Ripple is being aggressive with getting banks onboard and banks are warming up to them.

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ECB tells Banks to embrace instant payments to beat Bitcoin at Conference – Ripple in Attendance!

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