Ripple’s Vice President of Strategic Accounts, Pat Thelen, was recently appointed as one of the new board directors of the U. S. Faster Payment Council. He was a part of a pre-list of people in the tech sector which were chosen as members of the council. Now, he will serve his role for a one year term before moving on.
All of the appointed directors generally received a very positive reaction from social media, The executive director of the council, Kevin Christensen, shared the enthusiasm of the people on the internet. According to him, the new board is more inclusive than ever and will be a very important part of such a big organization.
What Could This Mean For Ripple?
The main goal of this institution is to basically, you may have guessed by its name, make payments faster. Now, the representatives of the new council are expected to work towards this end goal. This obviously could be very important for Ripple as the company is focused exactly on this.
XRP was created in order to enable faster transactions. The transactions are so quick that even Bitcoin pales in comparison to them, so it is important that now that Pat Thelen is a part of the council, he will leverage his powers to give access to his company and several new doors might open for it.
Now that Ripple is together with the U. S. Faster Payment Council, some of the friction that exists between the company and the more traditional financial sector can finally be overcome, which would be great for both sides.
This will also be important to perhaps even open the doors to more cryptocurrencies, too. The organization is pretty new, so it will certainly have more openness than traditional groups in order to deal with innovations.