John Deaton, the lawyer representing over 75,000 XRP holders in the ongoing XRP lawsuit, has recently referenced a notable use case accustomed to all crypto assets, which XRP does better than others due to its transaction speed and scalability.
According to Deaton, the statement, “XRP was solving the Friday Night problem”, was made by TagJet, a private jet booking platform, in its amicus brief in the class action lawsuit between Ripple and the United States Securities and Exchange Commission (SEC).
TapJets is the “Uber of the skies.” If you need a last minute ✈️ somewhere, you can use the… https://t.co/oxAWWjpOf5
— John E Deaton (@JohnEDeaton1) September 17, 2023
On Sunday, 17th September, Panos, the Author of “Understanding the Crypto Economy”, took to X to highlight the top use case that places crypto, especially XRP, above traditional markets and banks.
According to Panos, Banks and all markets are closed on the weekends, creating a big problem for both individuals & businesses, also giving banks the opportunity to carry out their usual market manipulation. He stated that this is why the world needs blockchain without service interruption.
Panos also noted that one of the most significant challenges posed by banking and market closures is the disruption of cross-border payments, forcing people to receive their payments on the mandatory 5 working days. He said since many businesses rely on international trade, any delay in this process could cause losses.
“It’s Sunday. Almost all markets, banks, and services around the world are closed. In today’s interconnected world, this is a big problem for both individuals & businesses, and also offers banks an opportunity to manipulate markets. Here is how blockchain solves this.”
John Deaton References XRP’s Significant Use Case
This X thread shared by Panos reminded attorney John Deaton of a particular statement made by TagJets in its amicus brief filed in support of Ripple and XRP against the SEC.
According to Deaton, TapJets explained that XRP was solving the Friday Night Problem created by banks and market closures.
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Describing TagJets services, Deaton said TagJets is like the Uber of the skies. He said the firm renders its services to those who need to travel through the air due to an emergency, indicating that its services are needed on both weekends and weekdays. But when it’s Friday after 5 p.m. or over the weekend, the banks are closed.
“Before you can reserve a jet, you must prepay the fuel, the pilots, flight attendant, airport fees, etc. But the is closed: no cash, no wire transfer, no jet,” Deaton noted.
According to Deaton, TagJets, in its amicus brief as quoted earlier, explained how XRP solved this Friday Night Problem between 3-5 seconds by adopting payments in XRP that knows no boundary.
In conclusion, the pro-XRP lawyer said the statement was significant because Ripple had nothing to do with TapJets and was completely unaware of the amazing XRP use case.