In today's blog post we will be discussing the innovative cryptocurrency Ripple, that is disrupting the financial sector by offering frictionless transactions between different currencies.
In this article we will be discussing
- What Ripple
- Who created Ripple (Ripple Labs)
- What is the difference between Ripple and BTC
- What is our XRP valuation
- How to buy Ripple
From the post
The XRP token serves multiple functions, allowing individuals to send payments, provide instantaneous liquidity for otherwise illiquid assets and process payments for people all around the world. XRP functions as an intermediary between the various asset classes (different fiat currencies, stocks and options, etc) so that people can quickly and inexpensively transact between various currencies. In the past if you lived in the United States but wanted to buy something in the EU you would need to convert your US Dollars into Euros and then you could make your desired purchases. Ripple allows individuals to instantly and frictionless make a purchase using multiple currencies. The ripple protocol automatically searches for the most efficient and cost effective ways of converting currencies (using their XRP token as an intermediary) so that the purchaser can pay using their currency of choice while the service provider can receive payment in any currency they choose. This versatility will further open up the global markets while making expensive and slow bank fees (wire transfers, etc) a thing of the past! While Ripple can be used for interpersonal transactions, the company is focused on bringing on large scale clients like banks and multinational financial institutions.
To read more check out the full post over at ICOwatch.live
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