Ripple (XRP) Evolving the Process of Frictionless Remittance Fairly WellSeptember 21, 2020
Ripple established in 2012, negligible energy consumption, all ledgers closed without issue since inception, and dedicated team of world-class engineers.
XRP has seven-year track record of a sustained and stable technology. Its governance makes it ready for institutional and enterprise use. The XRP Ledger is able to settle XRP transactions instantly without having to pay for energy costs and associated with proof of work or mining. This is indeed a green and sustainable option for money remittance.
Different events and hackathons are organized by Xpring. Further, the Xpring Meetups give developers a chance to network and collaborate on different projects.
For those who do not know Xpring, it is Ripple’s initiative facilitating an open developer platform for money. Ripple also builds software for the financial institutions to make it possible for frictionless cross-border payments. Also, Xpring provide support for the core technologies which power Ripple’s solutions while providing tools, services, and programs for developers.
Sydney Ifergan, the crypto tweeted: “Ripple (XRP) has been reducing the processing fee from days to hour in cross border transactions for less commission than with traditional payment providers. This is all the remittance industry needs!”
Several frustrating experiences in the cross border remittance industry are already getting done away with in an advantageous manner due to the On Demand Liquidity facilitated by Ripple.
This common language to be facilitated by ISO 20022 by 2023 will help financial institutions, banks and payments systems to streamline the cross-border payments processing by strengthening regulatory controls. Fresher approaches are also getting planned to increase adoption of ISO20022. The future of frictionless remittance is evolving fairly well.
Small businesses will be the major beneficiaries of high volume low value transactions become the global norm. The cost of low value transactions is currently high using traditional methods. If Ripple methods are adopted it is going to be far easier than before.
Ripple (XRP) UBRI High Quality Research
Several strong companies make the Ripple Ecosystem. These companies are with Ripple to either use or test products. Some of them have invested in Ripple, while others are making product integration possible. The UBRI provides for lot of high quality research which is going to facilitated break through innovations in the future.
Ripple have been keen about building a future-proof engineering team. They have known that it is critical to build teams which will encourage, inclusion, community and empathy. They have been contemplating on building a future proof engineering team. They are taking every step to make sure that XRP will be a global standard.