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Ripple is in for major reshuffling and rebranding

Photo of: Sangeetha Golchha
by Sangeetha Golchha

Ripple has made a huge announcement and this time it pertains to some important changes within the chain of command of the organization. The announcement came forth because Xpring’s Senior Vice President Ethan Beard has officially left the company. The Blockchain giant has announced that it will be rebranding two of its products Xpring and Ripple for Good to RippleX and Ripple Impact in one of its blog posts published on 5th October. The trademarks for the rebranding were registered last month. 

Ripple, the most popular decacorn while it got launched also has made some leadership transformation after Ethan Beard, its long-standing and valuable employee, left as the Senior Vice President of Xpring. The newly appointed General Manager of RippleX will be Monica Long who first joined Ripple as a director of communication way back in 2013. Xpring was originally the investment arm for Ripple but with the rebranding, it has shifted its focus to developing the XRPL ledger. Following the rebranding, it will now continue to provide the requisite tools and services for developers. 

Ethan Beard also took to Twitter to declare his new plans. He mentioned that he was leaving Ripple because he plans to start his own venture. He also cleared that theoretically speaking he will still stick to the XRP ecosystem. 

Source: Twitter

In the meantime, RippleNet, the blockchain-powered cross-bordered payment network has exceeded 300, last year and it will now be taken over by another Ripple veteran Asheesh Birla.  Birla had joined the blockchain company 7 years ago when it was nothing but a promising startup though not very big. He was one of the founding members there. In a recent tweet, he talked about how the organization has taken rapid strides and achieved impressive growth figures in the recent past. 

“7 years ago, I joined Ripple to build our network, RippleNet. It’s since grown to hundreds of FIs sending millions of txns, billions of $, and expanding with services like liquidity management and lending. Excited for what the next decade will bring!”

While the announcement of this major reshuffling was made, the CEO of the blockchain concern Brad Garlinghouse showcased that the company is currently hell-bent on building its existing ecosystem. It is sharply focused on generating more matter on the network instead of creating new ideas, concepts, and technologies that would be disruptive. 

“Ripple is evolving, but our core mission remains – we’re builders, not disruptors.”

Ripple seems very clear of its goals, and by the above comment, it wants to remain focused on what it does best. For now, the San-Francisco-based blockchain behemoth wants to strengthen its internal roots so much so that the users do not experience problems. 

By disruptor they mean to make new things happen not to break them. In June When Ripple was named for the first time on  CNBC’s Disruptor 50 list the 49-year old prolific executive clearly said that Ripple’s mission was to enable things not to shatter them.