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Siam Bank will not be using XRP for its operations in the future?

SCB partner XRP

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TL;DR

The sheer number of tweets regarding Ripple have plagued the social media platform for quite a while now. The tweets were mostly referring to the implementation of XRP in the world’s largest banks across numerous countries.

One such bank was supposed to be Siam Bank in Thailand, but they denied their participation in the blockchain system and mentioned that such a feature was never in development.

This came in as a big surprise to the XRP community, simply because the bank had already teased its involvement with XRP in the future, through a tweet they published on January 5th.

Some traders are now saying that the bank is not competent enough to manage its Twitter account, therefore it’s not competent enough to manage something as serious as a blockchain platform. Many are saying that it’s simply a method to adhere to the non-disclosure agreements in the future.

What’s most likely though, is the fact that the social media manager at the time, that denied the bank’s involvement in the blockchain industry, was simply unaware of the partnership overall. It’s not like the higher-ups delegate this information to the employees, so it’s understandable.

The bank has then tried to calm down the community as much as possible, reassuring the fact that the official partnership is well on its way. And it’s believable, simply due to the fact that the trial transaction has already been made and all the arrangements are prepared.

There is absolutely no reason for the bank to back down now.

All in all, most agree that it was a simple misunderstanding and that the issue has been resolved.

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Giorgi Mikhelidze

Georgian-born blockchain enthusiast Giorgi leverages his software development background for on point market commentary and analysis. A brief stint with Finance Makers and he's now covering crypto news for high authority websites with the tip learned from past experience, "Whenever you see people talking about the weakness of your idea, don't see it as criticism."

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