Ripple
It is a technology company that makes it possible to send money to every corner of the world at any time and at a very cheap price by using blockchain technology.
The team describes itself as "Today we are the only corporate blockchain company with products in commercial use", which is a very important finding. One of the criticisms directed to the crypto money market is the lack of real-life use. We can easily say that Ripple has overcome this problem.
RippleNet, the global payment network of the project, works with more than 300 financial institutions in 40 countries and six continents, and regulators, governments and central banks are also included in the system to further develop this.
what is RippleNet?
This is a confusing topic. The asset, which we also call Ripple on crypto exchanges and whose symbol is XRP, is the digital currency of the project. A unit that anyone can buy and sell easily or transfer to anywhere in the world.
RippleNet, on the other hand, is a system that allows financial institutions to send money in the form of fractions, even in a fraction of a penny, thanks to APIs and blockchain technology, and it solves these three basic problems related to payments:
A-Speed and precision
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, it is possible to send money to nearly 334 thousand points in 200 countries with MoneyGram.
American Express is famous for American Express credit cards and tourism travel checks used by the world's largest companies.
Spain-based Santander is also one of the largest banks in the world.
Yes, Ripple is a company and the product most of us know and use is XRP. XRP is a digital asset that is open to everyone and price movements are quite volatile. The company is obviously not interested in items such as purchase, sale, shipping or wallet, especially the price of this product. Because XRP does not represent any ownership shares for Ripple company and buying XRP does not mean investing in Ripple.
The biggest concern of those with XRP investments is that the company releases the XRPs in the escrow at the beginning of each month.
The company locked 55 billion XRP in its safety wallet at the end of 2017 and created a program that released one billion XRP at the beginning of each month. The purpose of this program is to ensure that the company will never sell all XRPs at once. Although the intention is good, XRP prices generally decrease after each sale and investors are rebelling.
Ripple is an extremely successful project. The agreements signed with financial institutions worldwide are also indicative of this; However, being a company is against the “decentralization” spirit of blockchain.
XRP is very effective as a payment system thanks to its transfer time under 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 thousand. This is rare case for a cryptocurrency company has massive followers.