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So is there a good explanation of why banks would use Ripple and why it's better than their existing options?
by ikeboy 9y ago
So is there a good explanation of why banks would use Ripple and why it's better than their existing options?
- 0b01 9y agoRipple is a scam to round up as many Bitcoins and Ethers as they can. When bitcoin is $200,000, Ripple will still be $2-3.
- justboxing 9y agoYes. From what I understand researching this company and currency for a couple of months, ripple's technology eliminates the middle-man banks that are involved in cross-border payments , thereby eliminating the fees they all charge, and also reduces the time taken for the funds to reach destination from 3 - 5 days or more, down to 3 seconds. They use XRP, the ripple crypto currency to hold the sender and receivers funds during the transaction. See also this video that explains it really well => https://www.youtube.com/watch?v=Q2YHhLkOO9g https://www.youtube.com/watch?v=Q2YHhLkOO9g and this one, which is more technical and explains their blockchain technology / xCurrent software. https://www.youtube.com/watch?v=bU79HunxJp8 https://www.youtube.com/watch?v=bU79HunxJp8
- flashmob 9y agoIn the video that you have posted, they do not seem to transfer XRP, but USD. In fact, XRP is not needed to use their products (Assuming the video was about 'Ripple Connect') Source: https://www.reddit.com/r/Ripple/comments/6jd9w6/this_is_the_difference_between_xrp_and_ripple/ https://www.reddit.com/r/Ripple/comments/6jd9w6/this_is_the_...