Ripple
Global real-time Settlement
Basic facts
Ripple provides a payments protocol for (international) interbanking settlement. Ripple´s goal is to enable banks to increase efficiency in their existing payment processes and create differentiated products and services for their customers.
Founded in 2012 Ripple up to Nov 2016 „…has raised $93m venture capital including earlier investments from Google Ventures, Andreessen Horowitz, IDG Capital Partners and Jerry Yang’s AME Cloud Ventures, a figure that makes it one of most-funded blockchain firms…“ (Source: Coindesk).
Why Blockchain?
Ripple´s solution is built around an open, neutral protocol (Interledger Protocol or ILP) to power payments across different ledgers and networks globally. It offers a cryptographically secure end-to-end payment flow with transaction immutability and information redundancy. Architected to fit within a bank´s existing infrastructure, Ripple is designed to comply with risk, privacy and compliance requirements.
Source: Ripple website
Additional sources
Note
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