Ripple is not a Cryptocurrency like Bitcoin or Ethereum. Ripple seeks and is achieving revolutionizing financial services, while Bitcoin and Ethereum seeks to displace them.
In a mess of hundreds of cryptocurrencies and other digital assets, there is a question for investors, which of them will crash and burn and which will stand to make fast moving investors a fortune. Of course there is some speculation excess and random enrichment but the main question we should ask as an investor: is the particular digital asset going up because of speculation or because it has some intrinsic value and its going to work on the real world.
Ripple(XRP) is such a disruptive digital asset with genuine intrinsic real world value and with a lot of space to increase in value in near future. Ripple is the only digital asset specifically designed for financial institutions.
Internet of Things and Internet of Value
It is estimated that by 2020 there will be 50 billion connected devices, including cars, fridges, thermostats… this is INTERNET OF THINGS and happening right now with an accelerating speed.
Your connected fridge will soon know when you are out of milk and automatically order you some more. For banks the most intriguing aspect of this connected experience is the tsunami of monetary transactions estimated globally worth of trillions of dollars that will happen with things talking to each other, and this is just a first wave in what will be a tsunami of micro payments powering the INTERNET OF VALUE.
Foreign Payment Transactions is an area where banks should completely embrace blockchain derived technology like Ripple, which will allow banks to move away from batch-and-file to smooth real time transactions.
For the INTERNET OF VALUE to become a reality, industry standardization must be adopted in order to homogenize the worlds different financial systems.
This is why RIPPLE along with a growing community of financial institutions and payment providers support Interledger Protocol (ILP) which standardize how to instantly settle transactions across different ledgers and networks. ILP can be thought of much like the protocol HTTP used in web address that become a global standard for online information exchange.
The point is that the value to be exchanged through the internet as quickly as information. (Internet of Value).
Although information moves around the world instantly now, a single payment from one country to another is slow, expensive and unreliable. There are $18 Trillion of cross-border payments made every year with a combined cost of about $1 trillion a year.
Ripple solution through its blockchain technology allows assets to be transferred from one party directly to another without a middleman, validated, permanent, completed instantly, irrevocably. At last, value can move around the world as information does. And not just money, because The Internet of Value will enable the exchange of any asset that is of value to someone, including stocks, votes, securities, music, and much more.
And this is Ripples vision for second era of the internet. Making cross border payments faster, cheaper, and reliable will bring major benefits to consumers, businesses, banks… It will also connect billions of people around the world to transact, give rise to entirely new businesses and industries, increase financial inclusion for millions under banked consumers… In Cryptocurencies like an investor, you either missed the boat or you were the early adopter and made money out of it.
Ripple(XRP) is the future and its just a question of when, not if the banks and other financial institutions begin using this digital asset in their day to day business.
Ripple is not a mined digital asset, as every single unit of the currency that exists has already been created, so its extremely more sustainable than mined digital assets and operates at a scale and speed far greater than other.
Through its holdings of XRP ripple is now one of the most valuable startups in the US, after UBER, AIRBNB, PALANTIR, WEWORK… So we think that in near future Ripple can effectively rival Bitcoin and Ethereum in terms of success through its grand vision to enable The Internet Of Value (IoV) to move money like information’s move today.
New Features and Improvements
Introduction of new features in Ripple increase XRP ledger transactions throughout to same level as VISA.
RippleNet – Frictionless blockchain solution for global payments.
xCurrent – Enterprise software solution that banks and other financial institutions currently use to instantly send and receive cross-border payments with end to end tracking and bidirectional messaging across RippleNet. Interledger Protocol (ILP) is the backbone of the solution making it possible for instant payments to be sent across a variety of different networks.
xRapid – Uniquely uses XRP to lover the liquidity costs of payments in emerging markets.
xVia – Is also a new product in RippleNet which enables users to even attach to payment many information’s like invoices etc. Now Ripples growing global payments network has 90+ customers, and recently 47 Japanese Banks move toward commercial phase of using Ripple.
As we see Ripple is the force to be reckoned with.
Image Source: CoinTelegraph