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Most people are unaware that the Ripple payment protocol was first developed way back in 2004, by a man named Ryan Fugger. He wanted to create a monetary system that would allow users to create their own money. RipplePay was launched in 2005.
In 2012, OpenCoin was formed and the organisation began developing RTXP or the Ripple Transaction Protocol. The purpose of this venture was to find a way that one party could transfer funds to another instantly and without being charged. A common ledger was created, for accurate transaction records. This is when XRP was first launched.
Since 2014, the team at Ripple have been focusing on the banking market. Many of the major banks have since adopted Ripple and the company is regarded as being a serious organisation that they can do business with.
Current partners include MoneyGram, Mercury FX, SBI Virtual Currencies, Fleetcor, Currencies Direct, IDT, Western Union, Cambridge Global Payments, Americas Companies, Cuallix, Zip Remit, Banco Stander, Scotia bank, Nordea, Natixis, Macquarie, Banca Intesa Sanpaolo, ESTAC, NAB, BMO, Barclays CIBC, RBC Bank, Asia MTM, Selly, Bichip and FlashFX. Many others are likely to follow, in what promises to be a very exciting time for Ripple and holders of the XRP coin. Some even believe that it is only a matter of time before Ripple replaces conventional fiat money and becomes the new global currency that people and businesses use.
Not everybody in the crypto community is supportive of XRP. Some regard it as a centralized entity that is a threat to the decentralized revolution that they would like to take place. If it is possible for there to be an ‘establishment’ crypto currency, then XRP is the one that looks most likely to become it. Ripple wants to work with the major financial institutions and seeks transparency. The company aims for evolution, rather than revolution, although the changes that XRP could well make to our lives could well be seismic. Industry insiders increasingly believe that Ripple’s rapid system, which is expected to utilize XRP, will replace the aging and cumbersome SWIFT for bank transfers.
The CEO at Ripple is Brad Garlinghouse. His various roles at search engine Yahoo! included Senior Vice President. He has also been employed at senior level by Hightail, AOL and Dial pad Communications. Garlinghouse is the face of Ripple and regularly appears in televised interviews, or at conferences as a speaker or panelist.
Ethan Beard is the SVP of Ripple’s Xpring project. He has previously worked at MTV and Bank of America. Asheesh Birla is SVP of Product at Ripple. His resume includes a stint at Thomson Reuters, where he was VP of Global Technology.
Kahina Van Dyke is SVP of Business and Corporate Development. She’s held high-profile roles at Mastercard and Citibank. Cory Johnson, who has spent time at Kingsford Capital Management, Bloom berg and CNBC, is Chief Market Strategist. The team has great depth and a wealth of experience in both high-finance and the media. These are serious people who do not fit the stereotypes of those working in crypto, many of whom have never worked for or done business with a major company.
Chances are, you have stumbled across our site because you are either a holder of XRP, or are considering investing. We must make clear that we are not financial advisers and merely seek to show relevant content to those who may be interested in XRP. Buying crypto currency will always represent a huge risk and anybody who does so is essentially gambling. Please take great care and do plenty of research, before getting involved in these markets.
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