This article was first published on: Insights – Ripple --

SBI Holdings, Japan’s leading financial services group, is betting big that blockchain technology will become a fundamental force in the global banking system.

In the company’s latest investor update, Mr. Yoshitaka Kitao, executive chairman, CEO and president of SBI Holdings, Inc. spoke passionately about the role of digital assets and, more specifically, XRP.

Ripple Insights got a unique opportunity to connect with Kitao-san after the meeting to learn more about his views.

Why are you so positive about blockchain?

In my opinion, we are bracing for a social revolution with blockchain that’s even bigger than the Internet. Using blockchain for global payments is central to this revolution, and by dramatically reducing transaction costs, financial institutions and all users of the financial system will benefit greatly.

Based on Ripple’s estimate, a bank can reduce the cost of processing remittances by 33% using Ripple’s technology, and by 60% if we couple it with XRP.

What do you think i...

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