WOOOOOOOOOOOOOOOOOAAAAA
what an article....wow
https://www.linkedin.com/pulse/international-banking-flocks-ripple-chandan-maddanna?published=t Published on
April 9, 2017chandan maddannaVice President, Automation, Global technology, JPMorgan heres one tiny bit for you ripplers to sink your teeth into
Salient features of ripples native cryptocurrency XRP 🠴
Liquidity providers can bridge any currencies directly through XRP, saving them from having to maintain accounts with each counter party for each currency ( Ex: A 'Bank' or 'Remittance Operator', having to maintain an account in every regional currency they operate in, often with 'trusted' custodian and/or partner institutions acting as intermediaries: aka: nostro/vostro accounts).
Apart from guaranteeing acceptance ecosystem wide, XRP Enables usage of advanced functions like escrow and paychan.
Conversion between exotic currency pairs, might involve multiple internal currency conversions ( Ex: INR to MXN might actually go through INR->USD & USD->MXN ), bridging XRP directly, can avoid and save such convoluted costs and settlement delays associated.
Also, XRP does not require bank accounts, service fees, counter party risk, or additional operational costs, and hence XRP is the true protocol enabler on the RCL, which is a public good, open for one and all.
Lastly, in a more complex setup, involving trust and/or swap lines between multiple parties, your 'compound transactions' can avoid having to depend on others 'IOU liability' and entirely eliminate risk of IOU failures, by making sure all the interconnected transactions clear in XRP, a liability free native currency, through and through.
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It is also striking to note how much of Bitcoin's life cycle resembles dynamics of mined Gold, dragging similar mobility & performance constrains, to the digital world. This makes it unsuitable for everyday liquid use, especially in a globally inter-connected economy.
XPR on the other hand, is a protocol enabling asset, with the purpose of fulfilling ecosystem wide acceptance & guaranteeing trust. it is built for transaction and made to scale.
Hence, XRP Carries negligible transaction costs making global micro payments possible & provides great vehicle for as a transaction currency instead. I believe it is world class at that. In short it unlocks the full potential of the ripple ecosystem that we have mentioned above, enabling true realization of IOV (Internet of Value).
