Ripple, the US-based blockchain-powered payment solutions startup, has hired Kahina Van Dyke as the new Senior Vice President (SVP) for Business and Corporate Development role. Prior to Ripple, Van Dyke led the global financial services and payments partnership teams at Facebook. Ripple has also promoted David Schwartz to Chief Technology Officer (CTO) who previously served as the Chief Cryptographer.

Van Dyke, with more than 20 years of experience in banking and technology, will focus on driving new, strategic partnerships for Ripple across the global financial services industry. Schwartz, on the other hand, will be responsible for Ripple’s technical strategy and development. His work will focus on improving the reach and volume of transactions across RippleNet through enhancements to Ripple’s product suite.

At Facebook, Van Dyke managed partnerships with major companies such as Citibank, PayPal, TD Ameritrade, Visa, Western Union and others to give people easier access to their bank accounts and the ability to send payments on the platform.  She says, the companies and individuals today need a faster, cheaper and more transparent money transfer system through which they can move small and large amounts of money. "Together, with our partners, we can reduce friction and deliver better options for individuals, businesses and financial institutions," she adds. 

The new research from Imperial College London and eToro suggests that cryptocurrencies offer a viable evolutionary 'next step' for money and have the potential to become a mainstream form of payment within the next decade. However, challenges such as scalability, design, and regulation remain and will require Bitcoin and other cryptocurrencies to make progress on these fronts.