Ripple Cryptocurrency Aims to Make Global Assets Liquid 💰💰💰


Ripple is another cryptocurrency in an ever-growing list of fledgling products, hoping to earn a place in the wider world of business and finance. While the value of Ripple's currency, XRP, is well below $1 per unit, making it a mere fraction of the value of Ethereum or Bitcoin, Ripple nonetheless sports the third-largest portion of market capitalization as compared with the rest of the cryptocurrency industry. But aside from its growing position as a currency, Ripple is drawing more and more attention from banks and financial institutions around the world for another crucial reason, too: the blockchain technology behind the currency itself.

Ripple Aims to Build an "Internet of Value"

A recent profile on Ripple by American Banker reveals that the San Francisco-based startup has its sights set on creating an "internet of value," a worldwide network system for financial transactions. Ripple's goal is nothing less than the ultimate freeing of monetary value, allowing assets to flow instantly and seamlessly between mobile systems, public blockchains, and bank ledgers. The goal is a massive one, and yet Stefan Thomas, Ripple's chief technology officer, stands behind his company's ability to enhance banking around the world. "We're not the disruptors, we're not the guys who come in and tear everything down," he stresses.

But in the Meantime...

For the time being, though, Ripple seems to occupy at least two different spaces. First comes the cryptocurrency side, and success in that area has not come as quickly as some would have liked. John Light, a consultant working with multiple startups that have integrated Ripple's technology into their systems, indicated that Ripple has "had something of an identity crisis about who their customer is, and what problem they are trying to solve."

First, the company aimed to build a new currency that would improve upon Bitcoin. This was a key component of the instantaneous transactions goal, as Bitcoin has been racked with problems relating to the system's processing capacity which has left some users waiting for days for their transactions to clear. Beyond that, though, Ripple differed from Bitcoin and other digital currencies further, even at its earliest stages. Ripple's leaders disagreed with other cryptocurrency enthusiasts who suggested that the new currencies could replace banks or even government currencies. Rather, Ripple aimed from the beginning to work with banks to make global assets even more liquid.

With roughly 60 financial institutions around the world sporting Ripple technology, the company is seeing its vision begin to take shape. However, the fact that the currency itself has not gone away makes the list of offerings that Ripple presents somewhat confusing. If banks and investors around the world are to continue to gain interest in Ripple, it seems that the company will be best served by streamlining its offerings further into the future.

Read more: Ripple Cryptocurrency Aims to Make Global Assets Liquid | Investopedia

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Thank you for the post. More people should know this info


You are welcome @rlavie985!
Yes, we need to share awareness about crypto currencies, bitcoin or other altcoins so that more people can know about it and take informed decision.

Thanks for the write up. And indeed, the Ripple's "currency future" is a confusing topic. IIRC XRP is implemented - as a platform - by Japanese banks. I think they even build their own cryptocurrency for inside transfers on top of Ripple tech. So why not to use XRP directly? And more importantly... where XRP should be actually used by common folk? Or is that what XLM is for? (Not that I have anything agains XRP. Just trying to understand it.)


Thanks for you valueable inputs @mrakodrap. Yes, right now things are confusing and we are not certain where XRP will be used by common people. For that we have to wait and watch.
I am not aware about what Japan has done regarding XRP so I won't be able to comment about that. Though, thanks for your heads-up, I will research further about that.


Here are some articles about Ripple tech @ Japanese banks:

So for now, the Pilot program is using Ripple, however on second url they state:

Aside from using Ripple, the banking group is also considering the possibility of creating a new virtual currency used exclusively by the participating financial institutions for the test. Details of any other digital currencies under consideration are currently scarce.


Yes, your first comment makes perfect sense as per the links shared by you. If they are adapting Ripple then they should not be making another currency. But we are small players, we can't understand their big plans may be ☺️

This sector is just getting started, hard to even guess the potential of how high we can go.
I penned this article on Ripple moving higher you may find interesting pertaining to the cryptos, money, etc.


You are right @motowngold. It is just getting started and currently we can't assess the potential of this new technology and currencies. But surely it will be mainstreamed in future. I wil go through your post. 👍

There's still so much room for growth. I like that Ripple's proposal has realistic use-cases.


Yes, that's right. There is still much room of growth for many crypto currencies. But I am worried that the number of altcoins being introduced in market may spoil the growth! Let's see how high Ripple goes!

Great post. I think that XRP has the potential for some consistent growth in the future, especially in such a lucrative sector.


That's right. Many are betting on XRP but it is not fully stable yet. The prices keep crashing and some news are spread that people are loosing confidence in it. Let's see how things turn out for XRP in future. It would be great if it dominate the market.


Good point, I wonder if it has something to do with SWIFT and their course of action. I had two good articles on Ripple and SWIFT on my blog:
You might have already read or heard of these, but if not then I recommend checking them out. I also hope that Ripple wins the race because I think that their system has a lot of potential.


That's good. Thanks for sharing your article. 👍

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