The following article is the last part of the scientific treatise, our guest author and takes the Ripple Ecosystem under the magnifying glass.
Ripple Labs is a company. This company provides banks with technology, with the help of which you can Intercontinental money exchanged in seconds. Use of the banks of this SWIFT.
If you are the social Trading channels followed, in which small investors hope, with Ripple to become rich, then you emphasize again and again that yet another Bank somewhere in the world, a Proof-of-Concept with Ripple Labs . The technology, however, these Proof-of-Concepts to be used, in most cases, the product xCurrent. But xCurrent requires no Ripple.
How does xCurrent?
xCurrent is a replacement for the SWIFT Protocol. But xCurrent uses exchange any Ripple which the banks together and transfer money from Tokyo to London.
The company Ripple Labs is benefiting as a company, when banks xCurrent to the SWIFT method to replace. However, this product has today, with no apparent relation to the RippleToken with the symbol of XRP on the stock exchanges for huge sums traded.
If banks such as Stan chart or Axis Bank , the technology of Ripple Labs to use transactions in US dollars, euros or Yen, you can use obviously, no Ripple, but the technology of Ripple Labs to buy. That Ripple later, benefit, could, however, is the desire of Ripple Labs. Because Ripple would be an Inter-currency created by the recipient banks in your local currency calculator will convert exchange rate would have to. The product, the Ripple with xCurrent connects, it’s called Ripple Labs xRapid. According to the CEO of Ripple Labs, Brad Garlinghouse, it takes a long time, until banks xRapid in a big way. There are Tests, but a wide use is still to come.
In March 2018, Ripple Labs announced that they, along with 61 of mainly Japanese banks, an App called Money Tap for the cashless society to the market. The customers of the 61 consortium banks should be able to perform with the App faster payments. It’s not enough to have a Bank account at one of the banks, and then you can pay by using the telephone number and a QR code. However, here obviously again, no Ripple , but the only Ripple Labs SWIFT replacement by the name of xCurrent.
Investing in Ripple (XRP) has only an indirect relation to Ripple Labs and the many banks, the technology of Ripple Labs to use SWIFT to replace. By the way, such as Ripple Labs and their technology is documented and at the same time in the market occurs, suggests that the mixing of its various successful products such as xCurrent with the crypto-currency Ripple in the Public conscious of nebulous is held, so that the price of the digital currency Ripple increases.
According to Bloomberg, every day, be transferred to around 76 billion US dollars internationally via SWIFT. Ripple Labs would like to see this 76 billion dollars on their products. The business idea is unique: Instead of SWIFT, the international payments faster and more cost-effective processed via a Blockchain. Unfortunately, banks have little interest in, for example, the funds in Euro to their customers in the crypto-currency Ripple trade, then in two seconds from Frankfurt to New York to send, where they, in turn, of the Ripple in U.S. dollars be exchanged must. According to Bloomberg, only a very low probability that this is accepted by the Bank market. The reason is that Ripple as a crypto currency is not regulated by the banking Supervisory authorities is still not accepted as a financial construct.