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A comment on Ripple co-founder fifth richest person in US, rivaling Zuckerberg. Parent comment

Re:Ripple co-founder fifth richest person in US, rivaling Zu... by justboxing on Sunday January 07, 2018 @09:19PM (#16094166)
Yes. From what I understand researching this company and currency for a couple of months, ripple's technology eliminates the middle-man banks that are involved in cross-border payments , thereby eliminating the fees they all charge, and also reduces the time taken for the funds to reach destination from 3 - 5 days or more, down to 3 seconds.

They use XRP, the ripple crypto currency to hold the sender and receivers funds during the transaction.

See also this video that explains it really well => https://www.youtube.com/watch?v=Q2YHhLkOO9g

and this one, which is more technical and explains their blockchain technology / xCurrent software. https://www.youtube.com/watch?v=bU79HunxJp8

[ Parent | on HN ]
Re:Ripple co-founder fifth richest person in US, rivaling Zu... by flashmob on Monday January 08, 2018 @04:52AM (#16095714)
In the video that you have posted, they do not seem to transfer XRP, but USD. In fact, XRP is not needed to use their products (Assuming the video was about 'Ripple Connect')

Source: https://www.reddit.com/r/Ripple/comments/6jd9w6/this_is_the_...

[ Parent | on HN ]