Isn't it closed source and run by a single corporation? What's the benefit of being tied to a block chain if for a centralized currency? Just copy the current visa/banking system and you're good to go.

No, its open source: https://github.com/ripple/rippled

> What's the benefit of being tied to a block chain if for a centralized currency?

https://ripple.com/insights/the-internet-of-value-what-it-me...

Ripple is interesting. If you're a true believer of the decentralized concept of crypto, you shouldn't like Ripple because it is controlled by a company (but is open source, similar to Java), and many financial institutions use it. So it's kind of towing the line between centralized and decentralized.

Not sure why you're downvoted. Thanks.