Ripple
It is a technology company that makes it possible to send money to all corners of the world at any time and at a very cheap price using block chain technology.
The team describes itself as "Today we are the only corporate block chain company with commercial products", which is a very important finding.One of the criticisms directed at the cryptographic money market is the lack of real-life use. We can easily say that Ripple has overcome this problem.
RippleNet, the project's global payments network, works with over 300 financial institutions in 40 countries and six continents, and regulators, governments and central banks are also included in the system for further development.
What is RippleNet?
This is a confusing topic. The asset, which we also call Ripple in cryptographic exchanges and whose symbol is XRP, is the project's digital currency. A unit that anyone can easily buy and sell or transfer anywhere in the world.
RippleNet, on the other hand, is a system that allows financial institutions to send money as fractions, even as small as a fraction of a cent, thanks to APIs and block chain technology, and solves these three basic payment problems:
A-Speed and accuracy
B-Liquidity management
C- Transparency
With RippleNet, customers can quickly access new markets, expand their services and have the best customer experience in global payments today. It is also possible to pay in over 40 currencies.More than 300 financial institutions include MoneyGram, American Express and Santander.For example, you can send money to nearly 334,000 locations in 200 countries with MoneyGram.
American Express is famous for its credit cards and traveler's checks for tourism used by the largest companies in the world.Santander, based in Spain, is also one of the world's largest banks.
Yes, Ripple is a company and the product most of us know and use is the XRP. XRP is a digital asset open to everyone and price movements are quite volatile. The company is obviously not interested in items like buying, selling, shipping or wallet, especially the price of this product.
Because XRP doesn't represent any ownership shares for the company Ripple and buying XRP doesn't mean investing in Ripple.The biggest concern of those who have investments in XRP is that the company will release the XRP into escrow at the beginning of each month.
The company held XRP 55 billion in its security portfolio at the end of 2017 and created a programme that released XRP 1 billion at the beginning of each month.The purpose of this program is to ensure that the company will never sell all XRPs at once. While the intention is good, XRP prices generally decline after each sale and investors rebel.
Ripple is an extremely successful project. The agreements signed with financial institutions around the world are also indicative of this; however, being a company goes against the spirit of "decentralization" of the block chain.
XRP is very efficient as a payment system thanks to its transfer time of less than 5 seconds and its low commissions.Ripple is in a very good position in terms of awareness. The number of followers on Twitter is 950,000. This is a rare case for a cryptocracy company that has massive followers.
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