As part of the report’s key findings for payments, the WEF concluded that the greatest potential for “decentralized and non-traditional payment schemes” such as distributed ledgers “may be to radically streamline the transfer of value, rather than as store of value”—thus creating “competitive pressure for the value transfer rails to become faster, cheaper and more borderless.”
One unique feature of Ripple is the open nature of the network, which has numerous benefits for banks, market makers, regulators and ultimately consumers.
“It’s faster to send money overseas through a FedEx envelope than international wire.” —Ripple Labs Head of Business Development Patrick Griffin, speaking at the SAP Financial Services Forum in London, June 24, 2015. It may be hard to believe, but this incredible comparison is a fact in the current state of money transfers worldwide. Fintech … Continued
When boiled down to its most fundamental nature, market making is about “buying cheaply and selling dearly.”
Though oft criticized—by the likes of Aristotle to the Occupiers of Wall Street—our endless thirst for liquidity is the reason why we have market makers.
A good way to understand the state of payments is to consider the evolution of electronic communications technology.
A new Vancouver-based company that provides platforms and services based on the Ripple protocol for businesses officially launched earlier this month.
At this point, there’s an agreed upon consensus that the core infrastructure by which we move money around the world needs a serious upgrade.
The next wave of financial innovation “will deliver fundamental changes to the infrastructure and processes at the core of the financial services industry,” argues a new paper published this week by Santander InnoVentures.
Ripple Labs is honored to have Ryan Zagone, Head of Research on the Business Development team, elected to the Federal Reserve’s Faster Payments Task Force Steering Committee.