Ripple is Considered a New Solution for the Financial Crisis

In a recent post, cryptocurrency researcher SMQKE highlighted previous references to Ripple as a systemic solution to global financial instability. The supporting images are sourced from the presentation at the IV International Scientific and Practical Conference organized by the Russian Academy of Sciences, specifically by the Institute of World Economy and International Relations named after EM Primakov. The conference theme "The Era of Cryptocurrency Economy: New Challenges and Regtech in this Field" focuses on financial innovation and global regulation within the fintech ecosystem. A presentation by Dr. IA Kopytin, a senior researcher at the Energy Research Center, outlined the context of the development of cross-border interbank remittance services, highlighting the need for modernization after the financial crisis of 2008. His article titled "The Fintech Ecosystem and Increasing Competition in Cross-Border Interbank Money Transfer Services" has ranked Ripple among some of the emerging solutions that have appeared after the collapse of the traditional financial system over a decade ago.

The Role of Ripple in the Post-Crisis Financial Infrastructure According to the conference documents, the global financial crisis of 2008 spurred the development of new cross-border interbank payment systems. Dr. Kopytin stated that after the economic crisis, the demand for improved mechanisms began to emerge. Some technologies have been identified as solutions to this demand, and Ripple is among them. Specifically, the document refers to the "Ripple financial technology system" along with other initiatives such as IBM's Blockchain World Wire and JP Morgan Chase's interbank information network. SMQKE emphasizes that Ripple has been mentioned not just once but twice in academic literature, both as a key response to the failures of the financial architecture prior to the crisis, and as a modern tool to ensure stability in commercial finance. The focus is on the shortcomings of outdated infrastructures like SWIFT and the emergence of blockchain-based alternative solutions designed to minimize systemic risk. Transparency and Protection Against Excessive Derivatives The third image shared by SMQKE, an excerpt from a related publication, details how blockchain-based systems, such as Ripple, can support a safer financial ecosystem. The quoted article supports the implementation of Ripple in commercial finance, citing the ability to enhance transparency through a digital ledger. The author argues that this transparency helps prevent excessive derivativeization, one of the fundamental issues that led to the financial crisis of 2008. The text states that traditional financial instruments, such as off-balance-sheet debt obligations (CDO), can contribute to systemic risk. The text also asserts that the use of digital ledger technologies, such as Ripple's technology, can mitigate these risks by providing detailed visibility and simplifying complex financial risks through verifiable transactions. Blockchain in Financial Reform SMQKE's tweet indicates that Ripple's technological framework has been mentioned in official economic studies and academic presentations as a viable solution for post-crisis. This aligns with Ripple's public positioning as a blockchain infrastructure focused on real-time payments, specifically designed for the use of institutions, especially in international payments. Although the documents do not suggest that only Ripple can prevent future crises, they present the company's system as part of a broader effort to modernize the financial industry after the 2008 crisis. The highlighted documents reinforce the argument that the transparency and programmability of blockchain provide safeguards that old systems lack, which have failed under the weight of complex instruments and lack of transparency. The recognition of Ripple in academic circles and organizations as a systemic solution further reinforces the narratives surrounding its utility in the global financial sector. According to SMQKE, this level of documentation affirms the importance of Ripple not only in the cryptocurrency space but also in the broader efforts to build a more flexible and transparent financial infrastructure.