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The Bank of England is not a customer of Ripple. Their fintech accelerator used Ripple for a proof of concept, which "was a useful exercise to develop the Bank’
by andr 9y ago
The Bank of England is not a customer of Ripple. Their fintech accelerator used Ripple for a proof of concept, which "was a useful exercise to develop the Bank’s understanding of synchronisation and possible technical solutions.".
No bank would use such a volatile currency for payments, for obvious reasons. If someone ends up using a technology based on the Ripple codebase, that's another story, but it is more like company X hiring the people behind Ripple for a consulting gig, then company X betting their fortunes on XRP.
IOTA also claimed to have a partnership Microsoft, when in fact it turned out they used Azure for hosting. The lack of any journalistic standards in cryptocurrencies is a huge issue.
- shepardrtc 9y agoHow many other cryptos did they do a Poc with? Ignoring BoE, Ripple's customers that are using XRP in production are: Moneygram, Cuallix, Mercury FX, and IDT. There are also 100 customers using xCurrent (the pre-XRP product that's used to transfer fiat). Upgrading to xRapid would increase the speed and decrease the costs of such transfer, so I imagine there will a conversion of some of those 100 customers to using xRapid, and thus, XRP.