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- Derailing economic barriers to unlock an ocean of opportunities for all.
- Working towards a sustainable global financial system.
- Aiming to target the untapped market
Finance is the lifeblood of a business. It is, indeed, the backbone of a nation’s economy. Since the establishment of the world’s first bank in 1791, the banking system witnessed many leaps and bounds. It has become the primary place for depositing and withdrawing funds. Here is a company that has leveraged its complete potential to facilitate a global financial system.
Why does the banking system need a push?
According to research, our current global financial system struggles to cope up with the needs of 1.7 billion unbanked people. This leaves them vulnerable to moneylenders that offer credit at high interest rates. Apart from this, Digital assets and distributed ledger technology (DLT) are a ray of hope for unbanked and underbanked populations. These elements will unlock their access to basic financial services like the exchange or transfer of money across borders.
The role of Ripple
Ripple has been striving for a long time to make financial services more accessible, affordable, and secure. Ripple has partnered with fintech, leading universities, NGOs, foundations, and social entrepreneurs to foster economic fairness and opportunities. This has resulted in a more inclusive, participatory, and sustainable global financial system is a truly collaborative endeavor.
Going beyond the traditional way
Ripple has discarded the traditional norms by coming up with out-of-the-box ideas for financial inclusion. It takes advantage of blockchain and digital asset technology to provide the unprivileged population access to banking facilities. This has brought a radical change in the lives of these common individuals who are now a part of the mainstream financial community.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
