Note from the CEO: Ah, Ripple, I think I know. No, not a small wave on the water. No, not tight abs. Well, like everyone else I guess reading this short article on a hot topic would be the easy way to find out.
Great short read on a distributed financial technology know as the Ripple Protocol. It’s a super technology and is being adapted for cross-border transactions, and also the third largest digital currency by market cap, after Bitcoin and Ethereum. Read all about right here.
“Ripple is a distributed financial technology that helps in cross-banking transactions beyond international borders. All these transactions are essentially in accordance with the Ripple Protocol. The ripple transactions are completely secure, instant and nearly free with no chargebacks.
The Ripple Protocol ot the Ripple Transaction Protocol is a set of rules built over the Internet. It is a distributed,open-source consensus ledger technology and brings the native currency XRP into play. The protocol is currently being implemented by many banks and payment instutions such as UniCredit, UBS or Santander.
Ripple plays with fiat currency, cryptocurrency, commodity or any other unit of value as tokens. As of 2016, Ripple is the third largest cryptocurrency, after bitcoin and ethereum.
The protocol gets incorporated within the already existing system of FinTech companies, and therefore allow their customers to use the service. The transaction takes place between two parties:
- A regulated financial institution that holds records of transactions.
- Market makers or people who trade in the currency desk….”
Read Full Article at Itsblockchain.com