16 Dec 2020


“A name indicates what we are looking for. An address indicates where it is. A route shows how to get there. The internet protocol focuses on addresses. It is up to a higher level (i.e. application protocols) to establish the assignment of name to address. Ripple now has more than 200 banks, startups and payment companies in the United States, Brazil, Europe, the Middle East, North Africa and the Far East in its RippleNet user network, most of which use xCurrent software to make cross-border payments. In commercial financing, where large quantities of goods sit in ports while buyers wait for them, the ability to make payments in minutes will make a big difference in some places, Bright said. Several euro Exim bank customers are “almost desperate to make sure it works,” he said. As bitcoin, ether and hundreds of other cryptocurrencies try to disrupt traditional financial institutions with blockchain technology, Ripple offers a solution that could revolutionize existing services. The ILP is an alternative to blockchain.

In addition to maintaining the security and verifiability of transactions, it also promises to provide scalability, data protection and interoperability that traditional blockchain technologies face. An overview of the website xrparcade.com shows that more than a third of the largest banks control Ripple`s technology or already use it in normal activity. Ripple`s cross-border payment technology has been launched by more than 250 banks in more than 50 countries, including international payments giant MoneyGram. Bright, of Euro Exim Bank, considers XRP to be a digital currency that should be regulated by central banks. “Making international money prices as close to zero as possible will drive down the revenues of banks in this sector,” Sokolin said. According to Ripple`s latest ads, 300 companies use RippleNet in 40 countries, 24 use the ODL solution, including MoneyGram, in which Ripple has invested. The second edition of XRP deals with points 3 and 4 of Howey`s test questions regarding a joint venture and Ripples` control over XRP. Ripple the company has too centralized control over XRP. The following table shows the top 10 banks, Regarding managed assets, already with or pilot ripple technology: Last year, several XRP investors who made a splash when the price of XRP dropped in early 2018 Ripple sued, said that XRP is a guarantee and the company violates state and federal law by not registering xRP at the Securities and Exchange Commission before they sell it to retail investors. For Sokolin, XRP is “just the ghost show of a lot of people on the Internet.” However, he is not concerned about the appeals against XRP; it justifies that with each investment, there will necessarily be a part of the people who will complain.

RippleNet is not a constellation of different technologies, non-standardized communications and centralized networks, but a unique global network of banks that send and receive payments via financial technologies distributed by Ripples – and enable real-time messaging, clearing and settlement of transactions. — Ripple`s Whitepaper Ripple is a company that manufactures financial technologies that are supposed to be used by financial institutions and banks to enable immediate transactions.

Comments are closed.