has flooded the news over the past few months. The team have a lot to offer and XRP seems to be driving the entire system forward into a more easily accessible world of cryptocurrency integration.
Because of the sheer quantity of news and reports, YouTuber Thinking Crypto has uploaded a nice video summary that provides an excellent platform for re-orientation in terms of looking onto the playing field Ripple has set for itself. You can see the video here- https://www.youtube.com/watch?v=7SNYmOMqwrw&t=10s
As a result of the vast amounts of news, you can be forgiven for forgetting exactly where Ripple stands at the moment, so, let us rehash the news back out to you, in order to make sure everybody is at the same point, in time for any potential Ripple boom that could occur.
As discussed by Thinking Crypto, Ripple are working with 40-50 central banks internationally. This is something we have reported on recently. This is not a rumour, it is a statement from a Ripple spokesperson as the Bangkok Fintech Fair. This is a huge part in Ripple’s story as once they have the central banks onboard, Ripple can divide and conquer the smaller entities.
Integration with Cobalt within Ripples networks will improve the already impressive transaction time for transactions within Ripple.
The XRP ledger will become more decentralised than both Bitcoin
and Ethereum, this news again comes directly from Ripples own media channels. Ripple is often referred to as a centralised currency, this is something Ripple aim to stamp out by ensuring their decentralisation quality is higher than that of Bitcoin and Ethereum.
Ripple has had a positive cash flow as of 2017, they have smashed their goals and targets thus far in terms of cash flow, suggesting that their product is solving real world problems, in the words of Thinking Crypto.
As Thinking Crypto
Highlights, Ripple seems to be signing on average one bank a week onto their scheme, what was it I said before about divide and conquer? Some of these banks include the Bank of England, Santander and the National Bank of Abu Dhabi.
Both MoneyGram and Western Union will be running tests for the use of XRP as an international funds transfer option. American Express are already working with Ripple too.
Three payment apps that will be integrating with the Ripple network are currently live, with the most recent looking to be Santander’s new OnePay FX international money transfer app.
Finally, for now, 61 Japanese banking firms have agreed to use Ripple technology within their operations going forward.
Okay, this is not an in-depth report that discloses every aspect of the Ripple journey thus far, but I believe that this does highlight a number of the key revelations that have happened over the past few months (some slightly further afield).
With so much going on, it is really difficult to keep track of the news, if this article has helped to re-inspire some of your memories then it has done its job. Ripple is moving fast, put market values aside and look at the movements they are making in the real world and you will soon see why so many people are so passionate about this currency and its journey onto its next phase., whatever that may be.