First thing first, when you think of 'Ripple'; rather, think of it as a 'Payment System', than bitcoin . Now Ripple has roped in more than 100 Financial Institutions , Lets see biggest takeaways from the ripples being made by Ripples
- Ripple is a 'payment system'.
- XRP is 'both' 'digital currency' and an 'payment network'.
- Possibly Financial Institutions may lose control over 'their' .
- Biggest beneficiaries are 'Banks' and 'payment providers'
- Ripple network allows transfer of 'any form of currency' , i.e dollars, euros, pounds, yen or bitcoins .
- Ripple is almost free(equivalent to ~1/1000th of a cent) transaction fees. However, PayPal , banks and credit cards collect fee from each transaction.
- XRP will replace old SWIFT technology(bank to bank money transfer (it takes 3 to 5 days and very pricey) with Ripple-block-chain technology (4 seconds, very cheap/free secure)
- On 16th October 2017, big announcements are expected!
XRPUSD Weekly chart 4400% upswing!
Daily chart: best level to buy XRPUSD $0.17 and best levels to sell $0.20
SIBOS and Swell Conference
SWIFT(est. 1973) holding 'Swift International Banking Operations Seminar' October 16-19 in Toronto, Speakers from BNY, HSBC , Earthport. Ripple scheduled its own Conference (Swell) for the same city and time frame of SIBOS. Keynote speakers former chairman of the U.S. System, Ben Bernanke, and the inventor of the World Wide Web, Tim Berners-Lee.
References and Further Reading
How online payments work?