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Ripple’s network is growing and thriving, with More than 200 Partner counts the RippleNet

Ripple’s network is growing and thriving, with More than 200 Partner counts the RippleNet

Home News Ripple’s network is growing and thriving, with More than 200 Partner counts the RippleNet

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Marcel Knobloch –
01.11.2018

In spite of a still-ongoing bear market and stagnant prices of the crypto market and block chain technology is developing rapidly. Ripple revealed at the Global Islamic Economic Summit in 2018 conference that the Kooperatioen will grow worldwide, and soon in every country in the world Bank, the technologies of Ripple.

Dilip Rao, head of the infrastructure innovations in Ripple, on the above-mentioned conference, almost 200 banks and financial institutions worldwide occur RippleNet beige and the software solutions of the company and the pilot (loosely translated):

So far, we have added nearly 200 financial institutions around the world, many of them from this part of the world.

We now have three banks in Saudi Arabia, two in Kuwait, one in Bahrain, one in Oman, a Couple in the United Arab Emirates here. And it really is our fastest-growing market.

This is the reason why Ripple will be opening the end of 2018, an office in Dubai in order to increase the presence and to all the participants of direct Support to offer. He sees the possibilities of Ripple’s block chain technology translated, especially in areas where the use of traditional payment platforms such as Swift to their limits (be free):

In some Parts of the world, for example, in South Asia, have abandoned the banks for the use of Swift and its own proprietary technologies developed in these corridors to intervene, so you can quickly and cost-effectively money, to meet the needs of customers in this high volume corridors.

If you want to send this money to you in particular, it is not clear how high the fees will be charged by the Bank on the other end. Therefore, you may receive substantially less than what you have sent. And if you send money for workers, this can often be a small amount of 200 USD, and the fees for these kind of small payments can amount to 5 to 10%. The harm to the people who can least afford it.

Ripple is particularly, but not only, to smaller-money move amounts to a low cost and at high speed across borders. Another sector in the Ripple may be used in the payment between the machine could be, however, he considers this statement to be relatively covered (freely translated):

We believe, therefore, that the core question is simple: “As we move to even smaller amounts of money? “

And that can form the basis for a digital economy. If you think that the machines talk to each other, make each year about 50 billion transactions. This is the height of the micro-payments – one-tenth of a Centes – and indeed, the existing infrastructure can’t deal with this very low volume of transactions of low value. We are of the opinion that the construction of new infrastructure is required to be able to this type of digital business support.

Dao, for the moment open, when and where Ripple as a payment network between machines can be used or already used. Probably we will hear in this sector in the future, further innovations and see. The complete lecture can be watched here:

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