{"id":40163,"date":"2019-04-20T11:15:17","date_gmt":"2019-04-20T09:15:17","guid":{"rendered":"https:\/\/ethereumworldnews.com\/?p=40163"},"modified":"2019-07-16T12:45:20","modified_gmt":"2019-07-16T10:45:20","slug":"heres-why-ripple-xrp-is-perfect-for-the-unbanked","status":"publish","type":"post","link":"https:\/\/ethereumworldnews.com\/heres-why-ripple-xrp-is-perfect-for-the-unbanked\/","title":{"rendered":"Here&#8217;s Why Ripple (XRP) Is Perfect for the Unbanked"},"content":{"rendered":"\n<p>One of the primary reasons for\ncreating Bitcoin is to reach people in the unbanked and under-banked areas.\nHowever, one cryptocurrency that is achieving that goal is XRP, with its\ncross-border remittance practically available in all parts of the world.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">XRP Helping Drive Crypto Adoption<\/h2>\n\n\n\n<p>Ripple and its cryptocurrency, XRP,\nhave been at the forefront of cryptocurrency adoption to the unbanked and\nunder-banked regions of the world. Ripple continues to release solutions that\nhelp banks and other financial institutions carry out faster and cheaper\ncross-border payments.<\/p>\n\n\n\n<figure class=\"wp-block-embed-twitter wp-block-embed is-type-rich is-provider-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">By slashing cross-border remittance times to minutes, <a href=\"https:\/\/twitter.com\/hashtag\/blockchain?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow noopener\" target=\"_blank\">#blockchain<\/a>-enabled services are attracting users who typically aren\u2019t banked. <a href=\"https:\/\/t.co\/dNjCxahdNJ\" rel=\"nofollow\" target=\"_blank\">https:\/\/t.co\/dNjCxahdNJ<\/a> <a href=\"https:\/\/t.co\/t2kEgeZ3Gy\" rel=\"nofollow\" target=\"_blank\">pic.twitter.com\/t2kEgeZ3Gy<\/a><\/p>&mdash; Ripple (@Ripple) <a href=\"https:\/\/twitter.com\/Ripple\/status\/1118912708152180736?ref_src=twsrc%5Etfw\" rel=\"nofollow noopener\" target=\"_blank\">April 18, 2019<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p>Roel Wolfert, a Managing Partner at\nVGRIP, <a href=\"https:\/\/twitter.com\/Ripple\/status\/1118912708152180736\" rel=\"nofollow noopener\" target=\"_blank\">says<\/a>&nbsp;\n\u201c<em>By slashing cross-border\nremittance times to minutes, #blockchain-enabled services are attracting users\nwho typically aren\u2019t banked.\u201d <\/em>He made this statement in a blog post about\nthe contribution of blockchain technology in the Middle Eastern financial\nlandscape. <\/p>\n\n\n\n<p>The adoption of Ripple and XRP by\npayment service providers in various parts of the globe is an important reason\nwhy cryptocurrencies are getting more attention. A few hours ago, Wietse Wind,\nan XRPTipBot developer, announced that Google and Apple App Stores accepted their\nXRPayments app. <\/p>\n\n\n\n<p>According to his <a href=\"https:\/\/twitter.com\/WietseWind\/status\/1118850687545303041\" rel=\"nofollow noopener\" target=\"_blank\">tweet<\/a>,<\/p>\n\n\n\n<p>&nbsp;\u201c<em>Right\non time! <\/em><em>?<\/em><em> <\/em><em>?<\/em><em> <\/em><em>?<\/em><em> Our XRPayments app was just accepted by Google and Apple. You can get\nthe app now from the Apple iOS or Google Play store, and start accepting $XRP\nfor payments in your physical store! Visit https:\/\/setup.xrpay.com to download\nand activate the app<\/em>\u201d<\/p>\n\n\n\n<p>In addition, Wind <a href=\"https:\/\/twitter.com\/WietseWind\/status\/1118900578178957313\" rel=\"nofollow noopener\" target=\"_blank\">says<\/a> that the app converts the funds, so\nit gives the recipient the exchange rate for their currency. \u201c<em>It doesn&#8217;t handle actual currency\nconversion: it&#8217;s XRP to XRP payments<\/em>,\u201d he added. <\/p>\n\n\n\n<figure class=\"wp-block-embed-twitter wp-block-embed is-type-rich is-provider-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">P.S. It converts the *amount*, so it can fetch the exchange rate for any currency in the world. It doesn&#39;t handle actual currency conversion: it&#39;s XRP to XRP payments.<\/p>&mdash; WietseWind { independent-developer-1 } (@WietseWind) <a href=\"https:\/\/twitter.com\/WietseWind\/status\/1118900578178957313?ref_src=twsrc%5Etfw\" rel=\"nofollow noopener\" target=\"_blank\">April 18, 2019<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\">Financial Entities Push Ripple Adoption<\/h2>\n\n\n\n<p>Ripple collaborating with several\nfinancial bodies across the world, and they are helping drive adoption. In the\nfirst instance, the partnership between Ripple and crypto exchanges, Bitstamp,\nCoins.ph, and Bitso is crucial to XRP adoption. These three all play essential\nroles for Ripple. Bitso carries out crypto transfers between Mexico and the US.\nLikewise, Coins.ph serves a similar function between the US and the\nPhilippines. Meanwhile, Bitstamp is in charge of USD conversion using xRapid.<\/p>\n\n\n\n<p>Another product of Ripple that is\nhelping drive adoption is the InterLedger Protocol. The ILP is an open protocol\nsuite designed for sending payments across several ledgers. Consequently, the\nILP will usher in the age of the internet of value (IoV) as it will close the\nbridge between fiat and crypto and allowing fast, efficient, and interoperable\nexchange to take place. <\/p>\n\n\n\n<p>The interoperability nature of the\nILP is crucial since it has the potential to speed up adoption of XRP and other\ncryptocurrencies across the globe. For example, a <a href=\"https:\/\/twitter.com\/warpaul\/status\/1114553142132105216\" rel=\"nofollow noopener\" target=\"_blank\">demo transaction<\/a> was carried out using the ILP and\nfunds were transferred from XRP to ETH within seconds. However, the general\nopinion is that Ripple\u2019s ILP is the technology to help the internet of value\narrive and thrive in the financial landscape.<\/p>\n\n\n\n<p>While XRP micropayments are possible\nvia Twitter and Reddit, XRPTipBot launching a similar service on Gmail will\nhelp boost crypto adoption in regions lacking banking services. Google\u2019s\ninternet mail service is the most widely used in the world, and allowing users\nto send funds via the platform will play a significant role in pushing\ncryptocurrency adoption. <\/p>\n\n\n\n<p>The XRP community is working to\nensure that Skype integrates the service. While it might not be new, Skype\nallowing XRP transfers via its platform will help boost the chances of crypto\nadoption. In general, Ripple and XRP\u2019s innovations are helping crypto adoption,\nallowing people in unbanked areas to carry out fast and cheap transactions. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ripple (XRP) is the perfect cryptocurrency for the unbanked areas of the world due to its role in the adoption and the speed, and low-cost transaction on the network. Ripple and some XRP payment platforms have solutions that are helping the areas that lack access to bank services.<\/p>\n","protected":false},"author":34,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[3852,3899,3851,6492,6507,84,6530,6590,6957],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/40163"}],"collection":[{"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/users\/34"}],"replies":[{"embeddable":true,"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/comments?post=40163"}],"version-history":[{"count":0,"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/40163\/revisions"}],"wp:attachment":[{"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/media?parent=40163"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/categories?post=40163"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/tags?post=40163"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}