Fidor Becomes First Bank to Use Ripple Payment Protocol

[tokeweed]

Fidor Becomes First Bank to Use Ripple Payment Protocol

by Pete Rizzo

San Francisco-based decentralized payment network provider Ripple Labs has announced that German Internet direct bank Fidor is now using the Ripple protocol as part of its transaction infrastructure.

With the announcement, Fidor has become the first bank to integrate Ripple’s payment protocol, allowing its customers to instantly send money in any currency in any amount through the bank’s money transfer products at a lower cost.

The move is significant as it will allow Ripple to showcase how its unique open-source approach to payments can be used by banks to replace many of the common intermediaries in the industry, thereby passing on savings to partner institutions, and by extension, their clientele... continued

source:  http://www.coindesk.com/fidor-becomes-first-bank-to-use-ripple-payment-protocol/

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[atoni]

I dont write much but I read a lot.

I am long term holder of BTC (longer then most of you probably as my avg price is bellow USD 1 and I am still holding - I sold only a portion on first run to 260 USD) and I am also a long term holder of Ripple too. Why? Because both of these technologies could be extremely disruptive.

I am sad that this forum turned from supporters of technologies into people that just talk shit about things they dont even understand.

Ripple is extremely powerful technology and its the one that could disrupt financial system and force it to change (other technologies will come along too in the future). Anyone who has used Ripple knows exactly what I am talking about.

That being said, I will still hold both of those currencies and I am 100% sure that success of Ripple can only help bitcoin and hopefully Ripple Labs manages to get some more financial institutions aboard as that is one of the ways for cryptocurrencies to enter mainstream and thus change the world a bit. (Dont even start with bank hating speeches because most of you cant wait to profit on bitcoin to withdraw to fiat and into the banks you claim to hate that much)

Instead of hate speeches try to find new ways to use those currencies for what they are supposed to be used (transfer of money, buying selling stuff etc).

[MargaretsDream]

I am sad that this forum turned from supporters of technologies into people that just talk shit about things they dont even understand.

Your right, I dont understand what Ripple is good for or how can it be used. I guess much better simple guides on ripple mainpage how to even use it in real examples is necessary before I consider giving it a try

San Francisco-based decentralized payment network provider Ripple Labs has announced.

Is Ripple really decentralized 

[cryptos]

ripple is btc 2.0!

[atoni]

Fidor is pretty inventive bank, they are big supporters of bitcoin, take a look at this article about it (http://newsbtc.com/2014/05/05/fidor-bank-bitcoin-ripple-whats-next/):

A bank in Germany that goes by the name of Fidor Bank AG is truly differentiating itself even further from your grandparents’ bank. You may have read that Fidor became the first bank to utilize Ripple’s payment protocol, so why is this bank so different?

Fidor is not your traditional bank. Just take a second to digest all the features Fidor’s smart checking account offers besides the trite bank/bank card “perks” that every bank offers.

Fidor’s smart checking account enables users to:

    Have no account fees
    Borrow money from friends
    Buy precious metals
    Buy foreign currencies
    Buy alternative currencies (BTC and some AltCoins)
    Send payments to e-mail addresses, twitter handles or phone numbers
    And much more.

Fidor has partnered with the German bitcoin exchange bitcoin.de all the way back in July and more recently announced it’s Bitcoin derivatives market back in January.

Fidor will begin using Ripple for intra-bank payments in its’ German branches and with their international partners. If this does bring down the cost of doing business, as planned, more banks may soon follow.

Fidor is bucking the trend for what a modern bank could become, using technology to bring down the costs of banking and giving customers more freedom over their money.

[evoked22]

Ripple is a shitcoin scam... stop spreading info about this crap.

+1

My brain receptors have evolved to not see it when i go to coinmarketcap

[balu2]

who cares about ripple? I buy doge before i buy ripple.

[bibbit]

Is Ripple really decentralized 

Yes. Why not take a look at the PeerFinder Readme in the the Ripple source code (open source)? After digesting the overview contained in the Readme, take a look at the actual code for the PeerFinder and Overlay network implementations to see the nitty-gritty.

[nextgencoin]

It don't like Ripple personally, it's a pain to use for the average user, trust stuff etc...


But I accept it's power was anyways as a kind of mainstream Bitcoin protocol that could be built upon like banks. While I don't like it, it is the mainstreams acceptable face of Crypto. I personally don't care about it but I wouldn't be completely surprised if the bank I use in 20 years is based on it.

[Burninj]

Take a look at this

https://bitcointalk.org/index.php?topic=224365.0