Transforming global payments is the mission of Ripple (XRP). They are continuing to build transformative stuff for the payments ecosystem. They are improving the global financial system by improving on economic inclusion.
Whether it is about pioneering blockchain applications, collaborating in a passionate culture, or helping the financially underserved they are setting the standards for excellence.
Cross border payments is important because more people are sending money to their loved ones back home. They are doing their best to reach out to the largely untapped markets.
Real-time payments are becoming important than ever. Several small tasks that were an everyday thing are becoming difficult. Instant and reliable means of paying and transferring money in small amounts is becoming a real need for small businesses. Payment that can happen in just a matter of seconds is becoming important. Instantaneous settlement finality is the need of the hour.
Blockchain technology has already proven that it is possible to permit businesses and financial institutions to transact and accept payments directly. This is made possible with RippleNet with their forward infrastructure layer in global payments. Cost effective cross border payments in just a few seconds is the current need. Since, financial institutions that make use of the RippleNet have access to On-Demand Liquidity services. With ODL financial institutions are able to avoid pre-funding.
However, users have stated that the only settlement that Ripple should now be considering is with the SEC. While some of the users have been stating that Brad should consider to pay the fine, there are other users who feel that it is fun to watch the SEC completely embarrass themselves, and fumble. They pointed to how SEC are calling XRP a security while trying to dismiss a suit against them by claiming it’s not a security. Many of them are keeping their fingers crossed for a huge future for Ripple though.
For those who are new to Ripple, there is an old video on how Ripple got started (2018) by Chris Larsen. He has explained about how Ripple actually goes back to 2004 and on how they started off as a seed project called the Ripple project by a smart engineer up in Canada.
He speaks about Ryan Fuger, who had this idea of creating a person to person exchange of kind of credits or personal credits or IOUs, and Ripple is now here it is!
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