CRYPTOCURRENCY

Shocking reasons why Ripple is probably not what you think

Ripple is dominating

For a long period of time Ripple has been among the top cryptocurrencies with the second biggest market cap – $128 billion USD. Surprisingly, Ripple is considered to be the most successful altcoin of 2017,with an increase of around 35 000% from January 2017!

1. Ripple is not XRP

Ripple is widely associated with its native coined XRP. Normally all platforms and their released cryptocoins are “in one boat”. For example, Ethereum has its crypto ETH.

Ripple was officially registered in 2012 and was called Opencoin, the rebranding and the change of name to Ripple was only in 2015, Currently Ripple is located in the USA and sells banking software that uses blockchain. Ripple has 3 platforms – xCurrent (money transfers), xRapid (deals with liquidity on the new markets), and xVia (finance industry, but the project is not involved in XRP).

Thus, Ripple is not always about XRP. Sometimes they go hand-in-hand and in the other cases they are completely different entities.

2. XRP is not the future of all the currencies

XRP is not digital money! It is more about banking and financial institutions and its decision-makers do not have future plans to change the scope and specialization of the company. They are way too successful in financial sector and make good money out of it.

3. XRP is not disruptive technology

Ripple is not a unique company, working in the banking industry.

There are many other companies that are successfully working with finance – R3, SWIFT, VISA, etc. All of them can create their own cryptocurrency at some point of time and develop blockchain-based platforms. Only God knows what will happen to Ropple then.

“If it makes sense to build it into our global payments innovation offering over the next few years then we will. That is why I don’t see this as a disruption. I see these as constructive technologies that can be examined and adopted and used.”

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CRYPTOCURRENCY


Shocking reasons why Ripple is probably not what you think

Published by blockchain, ICO, bitcoin, ethereum, mining