Ripple Partners – November 2017
- 77 Bank (七 十七 銀行)
- AEON Bank (イ オ ン 銀行)
- Ainslie Bullion
- Akita Bank (秋田 銀行)
- Al Rajhi Bank
- ANZ Bank
- Aomori Bank (青森 銀行)
- Ashikaga Bank (足 利 銀行)
- ATB Financial
- Awa Bank (阿波 銀行)
- Axis Bank
- Banco Bilbao Vizcaya Argentaria (BBVA)
- Bank Indonesia
- Bank Leumi
- Bank of America Merrill Lynch
- Bank of America
- Bank of England
- Bank of Iwate (岩手 銀行)
- Bank of Nagoya (名古屋 銀行)
- Bank of Okinawa (沖 縄 銀行)
- Bank of the Ryukyus (琉球 銀行)
- Bank of Tokyo-Mitsubishi UFJ (三菱 東京 UFJ 銀行)
- Bank of Yokohama (横 浜 銀行)
- Banquecorp Physical Gold
- BCS Information Systems
- Bexs Banco de Câmbio S / A
- Bill & Melinda Gates Foundation
- BMO Financial Group
- BNP Paribas
- Cambridge Global Payments
- CBW Bank (Citizens Bank of Weir)
- Coast Capital Savings
- Commonwealth Bank of Australia
- Credit Agricole
- Credit Suisse
- Cross River Bank
- Crypto Facilities
- Currencies Direct
- Daishi Bank (第四 銀行)
- Daiwa Next Bank (大 和 ネ ク ス ト 銀行)
- DBS Bank
- Deloitte Touche Tohmatsu
- DH Corporation (D + H)
- Ehime Bank (愛媛 銀行)
- Expertus Technologies
- Federal Reserve System
- Fidor Bank
- FlashFX flash
- Fukui Bank (福井 銀行)
- global iD
- Gold Bullion International
- GSR Markets
- Gunma Bank (群 馬 銀行)
- Hachijuni Bank (八十 二 銀行)
- Hiroshima Bank (広 島 銀行)
- HOKURIKU BANK (北 陸 銀行)
- HYAKUGO BANK (百 五 銀行)
- Chiba Bank (千葉 銀行)
- Chiba Kogyo Bank (千葉 興業 銀行)
- Chugoku Bank (中国 銀行)
- Infocomm Development Authority of Singapore
- International Foreign Exchange (IFX)
- Intesa Sanpaolo
- Iyo Bank (伊 予 銀行)
- Japan Post Bank (ゆ う ち ょ 銀行)
- Jurok Bank (十六 銀行)
- Keiyo Bank (京 葉 銀行)
- Krungsri (Bank of Ayudhya)
- Macquarie Group
- Michinoku Bank (み ち の く 銀行)
- Mitsubishi UFJ Trust and Banking Corporation (三菱 UFJ 信託 銀行)
- Mizuho Financial Group (ず ず)
- Monetary Authority of Singapore
- Musashino Bank (武 蔵 野 銀行)
- National Australia Bank
- National Bank of Abu Dhabi (NBAD)
- New Forest Capital
- NISHI-NIPPON CITY BANK (西 日本 シ テ ィ 銀行)
- Nomura Trust and Banking Company (野村 信託 銀行)
- Nordea Bank
- Norinchukin Bank (農林 中央 金庫)
- North Pacific Bank (北洋 銀行)
- NPCI (National Payments Corporation of India)
- Oita Bank (大分 銀行)
- ORIX Bank (O’Brien)
- Overseas-Chinese Banking Corporation
- Paycase Financial
- Persistent Systems
- R3 CEV
- Rabobank Nederland
- RAKBANK (National Bank of Ras Al-Khaimah PJSC)
- Reserve Bank of India
- Resona Bank (り そ な 銀行)
- Royal Bank of Canada
- Royal Bank of Scotland
- SAN-IN GODO BANK (山陰 合同 銀行)
- Santander Bank
- SBI Holdings
- SBI Remit
- SBI Ripple Asia
- SBI Sumishin Net Bank (SBI ネ ッ ト 銀行)
- Senshu Ikeda Bank (池田 泉州 銀行)
- Seven Bank (セ ブ ン 銀行)
- Shanghai Huarui Bank (SHRB)
- Shiga Bank (滋 賀 銀行)
- Shikoku Bank (四 国 銀行)
- Shimizu Bank (清水 銀行)
- Shinkin Central Bank (信 金 中央 金庫)
- Shinsei Bank (新生 銀行)
- Shoko Chukin Bank (商 工 組合 中央 金庫)
- Siam Commercial Bank
- Singapore Exchange
- Skandinaviska Enskilda Banken (SEB)
- Smart Token Chain
- Sony Bank (ソ ニ ー 銀行)
- Standard Chartered Bank
- Star One Credit Union
- Sumitomo Mitsui Banking Corporation (三 住友 銀行)
- Sumitomo Mitsui Trust Bank (三井 住友 信託 銀行)
- Suruga Bank (ス ル ガ 銀行)
- TAS Group
- Tata Consultancy Services (TCS)
- The PAR Foundation
- The Royal Mint
- Toho Bank (東邦 銀行)
- Tochigi Bank (栃 木 銀行)
- Tokyo Star Bank (東京 ス タ ー 銀行)
- Toronto-Dominion Bank
- Towa Bank (東 和 銀行)
- Tsukuba Bank (波波 銀行)
- UAE Exchange
- Union FX
- United Overseas Bank
- Volante Technologies
- Western Union
- Westpac Bank
- Yachiyo Bank (八千 代 銀行)
- Yamagata Bank (山形 銀行)
- Yamaguchi Bank (山口 銀行)
- Yantra Financial Technologies
- Yes Bank
Associated Ripple (Ripple Affiliated Organizations) – November 2017
- BAFT (Bankers Association for Finance and Trade)
- CFDR (Consumer Financial Data Rights)
- CFSI (Center for Financial Services Innovation)
- Conference of State Bank Supervisors (CSBS)
- Faster Payments Task Force (FRB)
- Global Payments Steering Group (GPSG)
- High Level Advisory Group on FinTech (IMF)
- Interledger Payments Community Group (W3C)
- IPFA (International Payments Framework Association)
- JS Foundation
- NACHA (The Electronic Payments Association)
- Post-Trade Distributed Ledger Group (PTDL)
- Web Payments Interest Group (W3C)
- Web Payments Working Group (W3C)
- Whitechapel Think Tank
Ripple (RTXP) is a payment protocol and a network for sending and changing names and money. It represents the fastest way to transfer money abroad – across the planet within 2-10 seconds. The project was launched in 2012 and California is behind its creation and development.The goal of Ripple is to create an online payment network that allows people to send and exchange money without unnecessary fees and without delays. At the moment everything suggests that the project is on the right track. The Ripple protocol has shown interest in more than 100 banks and online payment providers around the world.
What is Ripple?
Although Ripple and its XRP names are often referred to as cryptomena, it is not entirely true. It is rather an open payment system with its own digital currency that can be seen in those common “fiat” currencies. Like Bitcoin, Ripple uses a distributed database and has its own Ripple Transaction Protocol. It has some features of decentralization, though on a smaller scale than, for example, Bitcoin.The Ripple project was launched in 2012 under the ISC C ++ license. The authors of the Ripple project are A. Britto, D. Schwartz, R. Fugger, whom we will be hearing about in the next ten years just like Bill Gates or Steve Jobs.
Ripple is a shared network with open source (open source). The network is decentralized so that it is made up of individual users’ computers. There is no central server on the network through which all information (or payments) would pass and which would record all payments. Instead, the so-called verifiers are in the network. They are users who have a special program connected to the Ripple network on their computer. Verifiers share a set of files (so-called Ledger), which is something like a book on the entire network. The Ledger contains records of all payments in the network and updated every 5 seconds. Updates are handled by verifiers who record all payments in the network and then add them to Ledger.
Ripple is also a digital menu designation created and used within the Ripple network. The currency is referred to as XRP, it is interchangeable with other cryptoms or traditional currencies (fiat currencies) and is among the most capitalized cryptomenias . The currency is divisible to 6 decimal places, so the minimum amount in the network is 0.000 001 XRP. The network was created to make it easy, cheap and fast to transfer money over the Internet in any currency or between different currencies. This is not limited to the XRP menu, but also allows payments with other names and cryptos. (Source: www.ripple.com )
Ripple payment network
While Bitcoin Network monitors Bitcoin currency information, Ripple allows you to monitor any information. It can also monitor payments with different currencies. Ripple for other currencies is not as competitive as a supplement for faster and cheaper payments.
The Ripple network, as well as the networks of the best-known cryptomenias (Bitcoin, Ethereum, Litecoin), is decentralized and works on the principle of public accounting (Ripple uses Ledger, Bitcoin uses a blockchain or a Slovak bookmark ). With Bitcoine, transactions are being processed. mining cryptoms . This is a complex process where users, with the help of a special program, process records of new transactions. The mining process takes about 10 minutes and is constantly repeated. Ripple uses a different approach that makes the network faster and more energy efficient than Bitcoin.Payments on the Ripple network are confirmed by consensus, which lasts for seconds.
Payment network in the first place
First of all, we must realize that while the virtual name Bitcoin is the primary digital name, Ripple is a universal and decentralized payment network. In this network, it is possible to create so- tokens that can represent different currencies. Whether traditional (fiat) currencies such as the US dollar or the euro, or digital currencies such as Bitcoin or Ethereum . Tokens do not necessarily represent just currencies, but can represent, for example, loyalty points for purchases, air miles, gold, etc.
Ripple tokens and their use
Ripple gets the prize as a means to instantly convert any currency into another, without any intermediary. Unlike Bitcoin XRP, because of its unique structure, you do not pay for any store, but on the other hand, it has the potential to allow many more trades in a range of standard existing currencies. Ripple supports tokens that can represent almost any currency, including fiat names, such as dollars or lenses, or cryptomed as Bitcoin and special “names” such as air miles or loyalty points for purchases.
To get a menu into the Ripple Network, you have to redeem your real resources with special users called Gateways. They work like PayPal – send them dollars and they will allow you to send money over the internet. The difference, however, is that PayPal is a centralized body that pays considerable rewards and is much less flexible in what currency it is possible to trade.
Comparing the speed of individual payment systems
Consensus is the process in which verifiers attempt to agree on what transactions in the network have taken place. Therefore, when user A. executes the transaction, the entire network must agree that the transaction has taken place.
Ledger and Network Principles
Leadger is a file that contains information about all accounts, payments, account balances, etc. This file needs to be updated because there are constant changes in the network. Updating is done by taking the latest version of the file and adding the latest payment information to it.
Main Network Benefits
All users on the network do not care about validating and verifying transactions. Verified only by selected users – verifiers. The computers of these users are referred to as nodes and include a program connected to the network. If you send a payment, the information first comes to the node that shares it with the other nodes. But all nodes do not have records of the same transactions at the same time. Every 5 seconds, verifiers need to agree on which of the previously unrecorded transactions they confirm and which do not. The so-called “ Consensus Process – XRP Ledger Consensus Process .
Unique verifiers create groups (UNL – Unique Node List). In creating UNL, the emphasis is placed on making the group trustworthy and not conducive. Therefore, verifiers who are not expected to agree on joint fraud may be selected. Imagine, for example, two very competitive companies, including a hostile atmosphere. If these companies agree on something, then they will probably be the truth. At the same time, there is little likelihood that companies would cooperate. And it is precisely those verifiers who do not join in for cheating to form UNL.
Every 5 seconds, nodes compare each other to the information they get. If the vast majority of nodes agree that they received the same information (ie they recorded the same transactions), Leadger is updated and everything is repeated. The process is iterative, so if one of the nodes records a different payment, they try to unify the records with the other nodes. So they made it possible for all nodes to agree on the same accounting book at the end of the process. It may happen that sometimes a valid transaction is evaluated as bad, so it must be repeatedly processed for the next cycle. Therefore, the transaction confirmation time is 5 to 10 seconds.
Does this system have a future?
With centralized banking systems for speed and low payment prices, the speech can sometimes take 3-5 days or more. Perhaps because of the Ripple system, many banks have shown serious interest, and for example, the German bank Fidor or the American Cross River Bank and CBW Bank already actively use Ripple. Other banks (such as Santander, UniCredit, UBS, the Royal Bank of Canada and others), as well as some online payment providers, are also interested in the system.
Institutions that already use Ripple
It works by adding the Ripple protocol to your system to enable customers to take advantage of all the benefits. Payment service providers (banks, credit companies, etc.) Build their own platforms but are not compatible with each other. Ripple is designed to connect these platforms. In addition, Ripple allows you to create automated scripts. For example, you can easily program a Kickstarter similar: if the account A does not get at least $ 100 from the rest of the day (for example, 1 September), the money will be automatically returned by the sender.
Current Ripple Course (XRP / USD)
The history of Ripple
Ripple Lab, originally operating under the name Opencoin, is behind the project. The company was founded in 2012. In the same year, the Ripple project was launched, but its history dates back to 2004. At that time, Canadian Ryan Fugger published Ripplepay – the predecessor of today’s Ripple. There have been several years of development and improvement of the system. The Ripple concept was a parallel project for several other payment systems that were at the time.
Ripple currency value
The exchange rate of the XRP (Ripple) is most common against the US dollar (USD). You can also meet the exchange rate against the euro (EUR) or Bitcoin (BTC). The individual exchanges and exchange offices that Ripple promotes may have a slightly different course.
The value of the XRP currency depends on users’ confidence. If there is an increase in demand for currency, its price increases. If, on the other hand, the Ripple menu is not interested and people sell it more than they buy, the price drops. If the creators loosened all the coins created at the same time, the currency would be devalued because the offer would exceed the demand many times. At this point (early 2017), a billion XRPs are released each month, to be repeated for 54 months.
Ripple price development
Ripple names XRP do not belong to cryptoscopes that break records. They prefer to be more stable, although speaking of digital sentiments about stability is a lot of courage. Since its admission to the stock, ripple remained in the shadows of the more famous cryptomenius, so its value was held in the thousands of dollars. At the beginning of 2017, the XRP was about $ 0.006. However, during the first half of the year, the XRP course began to grow steadily. It stopped in May 2017 at just under 0.4 USD / XRP. However, this value has not been maintained for a long time and has fallen by half over the next three months.
With digital currency, there is a considerable risk of cyber-theft, network hacker attacks, and various scams. XRP is a centralized name in the sense that most of the coins are owned by the founding company. Theoretically, this can significantly manipulate the value of the currency, which would jeopardize the existence of currency and the entire network. However, it is in the company’s interest that the value and credibility of the XRP be increased.
Why does the Ripple value increase?
Ripple owns about 61% of XRP, which at present costs about $ 12.8 billion (June 2017). Taking this into account in market capitalization, Ripple should be worth more than most US startups, with the exception of four – Uberu, Airbnb, Palantir and WeWork.
Investors into XRP are thus still confident that Ripple will decide to sell its huge stake and market it with this currency. Some traders, who put $ 94 million into this startup, would definitely welcome some reward. The last capital of $ 55 million was earned by the investor in September last year, when the XRP was just a fraction of what it is worth today. (Source: Roklen24.cz )
Since then, Ripple has gained momentum, explaining to some extent at least a fraction of the sharp appreciation of XRP. While Bitcoin has a much stronger position on the market today, it is quite often used by speculators today as an investment tool. In contrast, interest in Ripple and Ethereum has recently increased as the main means of enabling business transactions, and Ripple is emerging as the increasingly popular digital payment standard in the financial sector. Only in April 2017 Ripple has acquired 10 new financial institutions for its payment platform and its clients are already large multinational banks such as Bank of America, RBC and UBS. The current list of Ripple partners and organizations from the financial and non-financial sectors can be found at the bottom of this page.
Ensuring long-term stability of Ripple
In order to promote long-term stability and distraction of such concerns, Ripple announced, in early 2017, a structured sales plan for its currency. By the end of 2017, according to Coindesk’s information on the linked account, 88% of its XRP, or about 54 billion XRP, in the total value of about 11.3 billionUSD, sending a maximum of one billion each month for the next 4.5 years. “We have decided to remove this topic from the table,” said Ripple CNBC CEO Brad Garlinghouse.
Mining in the Ripple network
XRP, unlike other cryptoms, does not suffer. Ripple builders initially created 100 billion XRPs that are gradually releasing to the system. But all the coins do not need to get into circulation because some of them want to keep the creators. At this point, a billion XRPs are released each month. This step should be repeated for 54 months.
How to get Ripple?
The only way to get the XRP (Ripple) menu is to purchase or exchange for another menu . You can find a list of the exchangeable XRPs on the official Ripple site at How to Buy XRP . The XRP currency is unusable for common cases because you do not pay anywhere. Nevertheless, it is very important.For each network transaction, a small portion of XRP is irretrievably destroyed. You can understand this as a small fee for a transaction that you have to pay but nobody gets it. So each account on the network must have a balance in XRP. However, the fee is really small and ranges from hundreds to thousands of cents.
The fee is to prevent fake accounts and users who want to make millions of transactions at the same time. XRP is also used in cases where it is not possible to exchange two names at a certain point in time. XRP creates something like a bridge of transfer – the base name is first shifted to XRP and then changed to the desired destination menu.
Another option is online currency trading . Growth speculation, but also a fall in Ripple’s price in the short and long term, allow forex brokers. For brokers, you are investing in whether or not the XRP will grow or fall without you actually owning the menu. For example, trading on the Slovak market allows Plus500 broker, who can offer you free and risk-free trading on a demo account that the broker offers free of charge.
Banks love Ripple
Ripple was established in 2012 and has undergone tremendous development since its inception. By supporting tokens, which can actually be any menu, Ripple became a protocol that began to implement large bank houses. Its enormous resources have been released and as more and more banks use its clearing means and distribution network among its branches. Ripple because of its nature has no ambition to replace traditional currencies. The payment network that supports it has the potential to change the way of trading on a global scale