Ripple could be the future of banking. It is currently trading around $.225 with a market cap of almost 9 billion USD. Ripple is not like most crypto currencies in the way it is actually centralized and it actually is an established company in the united states that is currently operating.
Ripple and why it will one day be worth over 20 billion usd. Todays payment rails just don’t cut it. We live in a world today where more than 3 billion people are connected online, cars drive themselves even appliance talk to each other now, but yet global payments are still stuck in the 60’s. This is because the payment system and infrastructer was built before the internet with few updates to date.
RippleNet will finally us finally update the banking infrastructure for global payments? The old system was slow with 3 to 5 days to settle a payment, very expensive at over 1.7 trillion annual costs.It is even unreliable with more than 4 % of payments actually failing.
RippleNet connects payment providers, banks, digital asset exchanges and corporates threw RippleNet to provide one friction less experience to send money globally. Its fast Acces connecting payments across networks, amazing speed with instant on demand settlement, real-time traceability of funds and low-cost operations and liquidity costs.
Growing a global network
Ripple currently has 90+ customers worldwide and 75+ deploying commercially. A few names already using ripple, are RBC, BMO, CIBC, ReiseBank, SBI Remit, UBS, UniCredit, this is only a few.
xCurrent-Banks use xCurrent to process global payments for their customers. xCurrent is Ripple’s enterprise software solution that enables banks to instantly settle cross-border payments with end-to-end tracking. Using xCurrent, banks message each other in real-time to confirm payment details prior to initiating the transaction and to confirm delivery once it settles. It includes a Rulebook developed in partnership with the RippleNet Advisory Board that ensures operational consistency and legal clarity for every transaction.
xRapid-Payment providers use xRapid to source on-demand liquidity.
xRapid is for payment providers and other financial institutions who want to minimize liquidity costs while improving their customer experience. Because payments into emerging markets often require pre-funded local currency accounts around the world, liquidity costs are high. xRapid dramatically lowers the capital requirements for liquidity.
xVia-Businesses use xVia to plug into RippleNet to send payments.
xVia is for corporates, payment providers and banks who want to send payments across various networks using a standard interface. xVia’s simple API requires no software installation and enables users to seamlessly send payments globally with transparency into the payment status and with rich information, like invoices, attached.
Ripple can be bought on almost any exchange I personally use Bitfinex and I do hold onto Ripple as i see it one day being very big, the more banks that jump on board the higher the demand will be, the higher the demand the high the price of ripple, it’s almost like buying stock in a bank in its early years, If only you could go bank and do that. Well you don’t have to now all you have to do is buy ripple and at the price of $0.225.
I suggest you take your extra money this week and hold onto some Ripple. Crypto currencies are here to stay, centralized, or decentralized.
Please leave comments below of any cryptocurrency you would like to know about or have questions on.