- Ripple has no entered the top 100 clubs of cross border payment companies which also includes companies like UBS and PayPal.
- Ripple became the only cryptocurrency company to be able to make it to the top 100 list.
Ripple has no entered the top 100 clubs of cross border payment companies which also includes companies like UBS and PayPal. Ripple, a blockchain company based in San Fransisco, is now recognized as one of the most significant companies which offer cross border payment in the finance sector, the financial data company FXC intelligence.
Ripple became the only cryptocurrency company to be able to make it to the top 100 list. The list also included the biggest banks such as the Bank of America, Deutsche Bank, City, UBS and also the world’s biggest publicly traded companies like Visa and PayPal. Some of the names on the list were the partners of Ripple, such as MoneyGram and TransferGo.
Ripple is a real-time gross settlement system and the currency exchange system. Ripple Labs, based in the United States, is the technology company that has created Ripple.
Ripple is built on a protocol that is distributed and can support tokens representing flat currency and cryptocurrency and even commodities. Ripple even supports variable units of value like frequent flier miles, etc.
Ripple was initially released in 2012, but the stable release had taken quite some time as it came out on the 15th of May 2018. Ripple is written in C++ by the authors Arthur Britto, David Schwartz, and Ryan Fugger, but was conceived by Jed McCaleb.
The trio is not the only author though, and they were the original authors that started it from scratch.
A research done by Stanford and Stockholm University students had revealed that the energy consumption of Ripple’s one server was equivalent to that of running an email service server.
The CEO of Ripple Brad Garlinghouse predicted that the $10 billion company would go beyond cross border payments and hinted at the fact that the E-commerce giant Amazon had started by just selling off books.