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Ripple partners with BPG Group for tokenization of precious metals (2018/04/04)
Santander: We’ll Launch Int’l Payment App With Ripple This Spring If No One Beats Us To It (2018-03-26)
How To Reach $10 per Ripple (XRP) And Possibly $20 (2018-03-25)
Everything You Need to Know About Ripple and Its Future Implementation With Banks (2018-03-16)
Ripple stresses ‘thoughtful regulation’ (2018-03-14)
amazon to start accepting ripple in 2018 (2018-03-13)
Bitit introduces global support for Ripple (2018-03-08)
South Korean ‘Big Five’ Bank Completes Ripple Remittance Trial (2018-03-02)
Cambridge announces the use of Ripple for faster global payments
Software is developed for global banks that allows interbank payments to take place very quickly and with numerous other advantages over conventional payment systems.
Designed to increase liquidity, lower spreads and drive payment volume through XRP, qualifying payment providers and exchanges can sign up for the following incentive programs.
Ripple offers a global real-time payment system that enables banks and financial institutions around the world to directly transact with each other without the need for a central correspondent. The company also offers foreign exchange Market Making, a solution enabling enterprises to gain access to cross-currency liquidity through a distributed network that allows foreign exchange to be externally sourced from a competitive foreign exchange marketplace or an internal foreign exchange trading desk. This minimises foreign exchange exposure thereby lowering the volatility and counter-party risk of trades. Ripple Insights features industry updates, insider perspectives, and in-depth market analysis.
Instead, an institution could just keep a pile of XRP. When they needed to make a payment to someone in, say, Hong Kong, they could just arrange to have someone who already has money in Hong Kong to make a domestic payment on their behalf. They would pay that person in XRP.
If they didn’t have XRP and wanted to pay someone in Hong Kong using dollars, they could just find someone in the US willing to trade XRP for their dollars and someone in Hong Kong willing to deliver funds domestically in exchange for that XRP.
This does however require a way to find such people, arrange the entire transaction, and ensure that either it all succeeds or all fails. This is what Ripple has been building.
The ultimate goal is to tie payment systems together with XRP (a settlement asset that can be transferred in a few seconds) and ILP (a protocol for discovering and coordinating transactions across multiple ledgers) so that money can move as easily as information does today.
XRP sits in accounts, not as unspent outputs. These accounts can have properties on the ledger. So, for example, you can
change your signing key without changing your receiving address.
The ledger supports native payment channels, escrow, multi-sign, a distributed exchange, and numerous other features aimed at secure asset issuance, transfer, and storage.
History is not needed to process transactions. A server running on XRP can process and verify transactions within ten minutes of being downloaded.
The network is currently handling between 10 and 13 transactions per second most of the time, with average transaction fees equivalent to less than a tenth of a penny. The network has closed over 30 million ledgers since it was opened to the public in late 2012. More transactions (half a billion) have been performed by the XRP network than any other public ledger system.
INITIAL COIN OFFERING (ICO)
20 billion XRP were retained by Creators, who were also the founders of Ripple Labs. The creators gave the remaining 80% of the total to Ripple Labs and as of March 2015, 67% of Ripple Labs’s original 80% was still retained by the company.
Ripple Labs also had a short-lived 2013 giveaway of under 200 million XRP (0.2% of all XRP) with some of the amount given to charities such as the Computing for Good initiative, which began offering XRP in exchange for time volunteered on research projects.
To alleviate concerns surrounding XRP supply, Ripple committed to place 55 billion XRP (88% of its XRP holdings) into a cryptographically-secured escrow. The escrow will allow them to use up to 1 billion monthly and return whatever is unused at the end of each month to the back of the escrow queue in the form of an additional month-long contract, starting the process all over.
The amount of XRP distributed and their movement can be tracked through the Ripple Charts website.
Pre-mined – XRP is built directly into the Ripple protocol and requires no mining.
Creators / Founders
Core Development Team
Chief Executive Officer
Brad is the CEO of Ripple and a member of the Board of Directors. Prior to Ripple, Brad served as the CEO of file collaboration service Hightail. From 2009 to 2012 he was President of Consumer Applications at AOL and prior to that he held various executive positions at Yahoo! from 2003 to 2009, including Senior Vice President.
Chief Technology Officer
Stefan Thomas is the CTO of Ripple. Stefan is also the producer of the popular “What is Bitcoin?” video and the founder of the largest website for novice Bitcoin users, WeUseCoins.com. He created a set of open-source Bitcoin libraries called BitcoinJS, which today are maintained and used by Bitcoin businesses of all sizes including BitPay, BlockChain.info, Bitaddress, Coinpunk and others.
David Schwartz is Chief Cryptographer at Ripple. David is one of the original architects of the Ripple consensus network. Prior to joining Ripple, David Schwartz was Chief Technical Officer for WebMaster Incorporated, a Santa Clara software developer. He developed encrypted cloud storage and enterprise messaging systems for organizations like CNN and the National Security Agency (NSA). Known as “JoelKatz,” he is a respected voice in the digital currency community.
VP of Product at Ripple
He first joined in 2013 to lead the development of their product suite. Asheesh is an industry expert on blockchain and is a frequent contributor, speaker, and advisor on blockchain and cryptocurrency. Asheesh started his career as an entrepreneur 15 years ago in Silicon Valley, where he founded a content management company that he later sold to Thomson-Reuters, becoming their VP of Global Technology in 2005. After leaving Thomson-Reuters in 2010, Asheesh advised and led product design at a number of startups in Silicon Valley.
Ken Kurson is Editor in Chief at Observer Media. He wrote Esquire’s “Green” column for 17 years, focusing on personal finance, financial investment and financial technology. He also founded Green Magazine and published a book entitled The Green Magazine Guide to Personal Finance (Doubleday, 1997). Ken used these platforms to take complex financial concepts and explain them in a way that is less intimidating to the average reader. Previously, he was a financial analyst for CNNFN, an editor at large for Money and the Executive Vice President at Jamestown Associates.
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