Introduction to Ripple and XRP

evo

Site Admin
Apr 2017
Seattle
#1
Ripple is a company offering solutions for faster and more secure payments through blockchain technology.

Last year, they partnered with the SBI Group, a large Japanese banking consortium. The solution targeting banks consists at the core of Ripple Connect (messaging layer) and the Interledger Protocol or IPL (the settlement layer).

The IPL works with both fiat currencies as well as XRP. The reason customers would choose using XRP is that it is 60% cheaper compared to using fiat. The current cost of using XRP to send a payment is $0.0007 and is completed in 4 seconds.

There is $27 trillion in float around the world to facilitate payments at the moment. With the solutions Ripple presents, that amount of liquidity wouldn't be needed anymore.

 

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