The prime aim for the development of ripple is to make some improvement in the transaction speed for financial purposes, especially in international banking. This is because traditionally, it would take about 3 to 5 days for the transactions to clear if one sends money abroad. The goal of Ripple is to reduce transaction times globally to a few seconds.
Comprised of 150 people in total, Ripple’s team is led by CEO Brad Garlinghouse. He previously worked in high authority positions in organizations such as Hightail, and Yahoo. Ripple was launched back in 2012 and over the years, it has had rather slow growth.
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The researchers of the Ripple concluded that the currency XRP is a much safer and faster option than other fiat currency.
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