The True Potential Of #XRP
Ripple was not just a currency; it was literally a global decentralized exchange. Already there were symbols to represent the US dollar, the Euro, gold, even other cryptocurrencies like Bitcoin, and just like the base currency XRP, these could all be
Ripple was not just a currency; it was literally a global decentralized exchange. Already there were symbols to represent the US dollar, the Euro, gold, even other cryptocurrencies like Bitcoin, and just like the base currency XRP, these could all be
traded or sent within seconds. The most immediate and obvious benefit of this technology is the near instantaneous transaction time.
But Ripple can do so much more than just send money quickly. These symbols that you create so effortlessly can represent anything, not just money. It is not just a payments protocol.
You can very much create a symbol that instead represents your company or shares you are trying to issue. In other words, the technology is there for anyone to IPO their own company, fund, or other financial vehicle without any bank or middleman right there with a few mouse
clicks. eliminating the concept of pre-market or afterhours. All of the benefits of a traditional IPO or stock offering can be had at virtually no cost, no time, and with no middlemen by literally anyone in the world
The same goes for any other form of borrowing or funding. It's an implicit credit rating, or in other words, a market-determined value, for every person, company, and financial instrument that gets listed.
And all of this can be done on the same global decentralized exchange.
You don't need to exchange money for shares or vice versa; you can directly exchange shares for other shares, commodities for loans, private equity for bonds, etc with again all the intermediary trades necessary to make it happen automatically occurring behind the scenes.
Anything can be traded, issued, and sent in real time anywhere in the world. Anyone can access and use the exchange directly with no one in between (besides your internet provider), and like the internet, the exchange itself is forever online,
fully automated with no manual human labor or involvement.Part of that is from the pressure on Ripple Labs to narrow their use case to just the settlement infrastructure for banks; it is unfortunate to see such powerful technology pigeonholed to a small fraction of its potential.
They're almost like the Microsoft of cryptocurrencies when it comes to marketing, where despite having a superior technology (such as the Surface), they let everyone else box them into a category that already exists until someone else rebrands it;
for Ripple here, their box is blockchain and bank transaction settlement. Yet public perception continues to be that they just facilitate payments like any other cryptocurrency, probably because that practically is the only thing they're doing with it at the moment.
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