Ripple :- Things you need to know about Ripple.

Ripple is a private Blockchain (Cryptocurrency) created by banks for them to use and enter into blockchain technology. It can been as simple as transferring amount from bank A to bank B. Ripple is a permission-ed private Blockchain.

Why was Ripple Created ?

The banks own 70% of the ripple as it was created for them self. Ripple works with banks to transform how to send money around the world. For Example Ripple will act like a tunnel where from one end you invest money (that is to be transferred) to other region (or the other end of tunnel). The other end of tunnel will act like withdrawing the money which was invested. So Ripple helps to move value as we move information today.

Why should an individual use ripple?

1. Directly accessible by banks.
2. Speed (instant settlement).
3. Real-time traceability of funds.
4. Cost (lowest total cost of settlement).

Why should banks use ripple?

1. Banks can use ripple to lower processing costs and deliver better overall customer experiences.
2. Grow revenue through differentiated products and services.
3. Lowers your bank’s back-office costs through an efficient mechanism to process and settle international payments.

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