Ripple To Advance Development In Web 3.0 Space

By Kevin • October 2, 2022 2:18 pm • Comments

Ripple has revealed that the company will continue its efforts to make significant progress in Web3 development as it shares that it will continue to hire new talent in this area.

Web 3.0 is a space that has recently received a lot of attention within the blockchain industry and experts believe that it will be another high-growth market in the near future.

Starting the beginning of September, Ripple is working with a design consultancy firm named Btrax where the two have recently announced a partnership.

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Together, both parties will work on a Web3 design lab that is based on the XRP ledger where it will provide platform to help Japanese businesses get involved in the Web3 space.

U.today reports:

Both parties will work together to create a Web3 design lab that is based on XRP Ledger as part of the agreement.

The new service is meant to aid Japanese businesses in accelerating the growth of their Web3 businesses.

The initiative centers on fostering the development of Web3 and teaching Japanese businesses the quse cases related to it.

In August, Ripple welcomed Fukuoka City Mayor Soichiro to the Ripple headquarters. Fukuoka is a leading city for Web3 initiatives in Japan. Ripple’s VP of Corporate Strategy and Operations, Emi Yoshikawa, tweeted about having high hopes for Fukuoka City, which is actively working on Web3.

A few months back, Ripple opened its first office in Canada, which will serve as the company’s “key engineering hub.” Ripple expressed its intention to go on a hiring spree in Toronto, aiming to hire “hundreds” of blockchain software engineers in the long run.

Ripple’s operations have also not been affected by the recent crypto bear market that has been so called another “crypto winter”.

Unlike other firms which have conducted layoffs or even faced bankruptcy during the recent market downturn, Ripple has continued to hire and expand their operations globally.

Ripple’s CEO Brad Garlinghouse has stated that the company plans to continue to hire new talent as the company has been able to maintain a strong cash balance.

This could be attributed to Ripple’s ongoing success outside of the US where institutional demand for its On-Demand Liquidity service has skyrocketed.

This is despite the regulatory roadblocks that Ripple has had to deal with in the United States.

Azcoinnews.com reports:

Ripple continues to set its sights on Web3 development. In a recent tweet, Ripple says it is looking for individuals passionate about Web3 to join its team.

It should be recalled that at the start of September, San Francisco-based design consultancy firm btrax announced a partnership with Ripple.

Ripple CEO Brad Garlinghouse said that the company would continue hiring, in contrast to other major cryptocurrency players that have slashed their workforce.

Ripple says it will be able to increase the number of employees even during the bear market after securing a “significant” cash balance. The slew of developments come amid the Ripple-SEC lawsuit, which has dragged on for almost two years, and most expect a resolution by 2023.

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