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@ripple14-blog
Experimenting (publicly known)
Aeon Bank
Australia and New Zealand Banking Group (ANZ)
Bank of England
Bank of Yokohama
Commonwealth Bank of Australia
North Pacific Bank
Royal Bank of Scotland (RBS)
Sony Bank
Tokyo Star Bank
Tsukuba Bank
Western Union
Partnerships (publicly known)
Akbank
American Express
ATB Financial
CGI Group
eZforex
Fidor Bank
Mitsubishi UFJ Financial Group (MUFG)
National Australia Bank (NAB)
National Bank of Abu Dhabi (NBAD)
ReiseBank
Royal Bank of Canada
Reception
Ripple protocol has received a fair amount of attention in both the financial and mainstream press.
Ripple has recently been mentioned in industry articles by The Nielsen Company, the Bank of England Quarterly Bulletin, NACHA, and KPMG, with many of the articles examining Ripple's effect on internationalizing the banking industry.
2015, American Banker asserted that "from banks' perspective, distributed ledgers like the Ripple system have a number of advantages over cryptocurrencies like Bitcoin
2013, Ken Kurson said that "the big financial-service brands ought to feel about Ripple the way the record labels felt about Napster
The New York Times website Dealbook points out in 2014 that “[Ripple] is winning something that has proved elusive for virtual currencies: involvement from more mainstream players in the financial system.
In August 2015, Ripple has been awarded as Technology Pioneer by World Economic Forum.
link : https://www.youtube.com/watch?v=PYxFYA4sMmI
credit to : America Ru
XRP are currently divisible to 6 decimal places, and the smallest unit is called a drop with 1 million drops equaling 1 XRP.
There were 100 billion XRP created at Ripple's inception, with no more allowed to be created according to the protocol's rules.
XRP is the only currency in the Ripple network that does not entail counterparty risk, and it is the only native digital asset.
Users of the Ripple network are not required to use XRP as a store of value or a medium of exchange.
Each Ripple account is required, however, to have a small reserve of 20 XRP. The purpose for this requirement is discussed in the anti-spam section.
Ripple Design Features
Gateways
any person or organization that enables users to put money into and take money out of Ripple's liquidity pool
Consensus ledger
relies on a common shared ledger, which is a distributed database storing information about all Ripple accounts
Use as a payment
allows users or businesses to conduct cross-currency transactions
Privacy
While transaction information on the ledger is public, payment information is not. It’s thus difficult for anyone to associate transaction information with any specific user or corporation
Market makers
offering an arbitrage service such as providing market liquidity, intra-gateway currency conversion, rippling, etc.
Open API
Ripple Labs built the protocol to be friendly to the developer community, and resulting features include an API for its payment network, based on the popular REST API standard.
Ripple History
Focus on banking market (2014–17)
2014, Ripple Labs was involved in several development projects related to the protocol,
Ripple Labs proposed Codius, a project to develop a new smart contract system that is “programming language agnostic.
Fidor Bank is an online-only bank based in Germany.
September, the New Jersey-based Cross River Bank and Kansas-based CBW Bank announced they would be using the Ripple protocol.
December, Ripple Labs began working with global payments service Earthport, combining Ripple’s software with Earthport’s payment services system.
Earthport’s clients include banks such as Bank of America and HSBC, and it operates in 65 countries.
December 2014, the XRP price value rose over 200%, helping Ripple surpass litecoin to become the second biggest crypto-currency, and setting Ripple’s market capitalization at close to half a billion dollars.
2015, Fidor Bank announed they would be using the Ripple protocol to implement a new real-time international money transfer network
Western Union was planning to "experiment” with Ripple
Bank of Australia announced it would be experimenting with Ripple in relation to intrabank transfers.
FinCEN fined Ripple Labs and XRP II US$700,000 for violation of the Bank Secrecy Act.
The year 2015 and 2016 marked the expansion of Ripple (company) with the opening of an office in Sydney, Australia and the opening of European offices in London, United Kingdom, then in Luxembourg in June 2016.
Many companies have subsequently announced experimenting and integrations with Ripple.
2017, XRP briefly became the second largest cryptocurrency, with a market capitalization of 73 billion USD.
Ripple History
Focus on banking market (2014–17)
2014, Ripple Labs was involved in several development projects related to the protocol,
Ripple Labs proposed Codius, a project to develop a new smart contract system that is "programming language agnostic.
Fidor Bank is an online-only bank based in Germany.
September, the New Jersey-based Cross River Bank and Kansas-based CBW Bank announced they would be using the Ripple protocol.
December, Ripple Labs began working with global payments service Earthport, combining Ripple's software with Earthport's payment services system.
Earthport's clients include banks such as Bank of America and HSBC, and it operates in 65 countries.
December 2014, the XRP price value rose over 200%, helping Ripple surpass litecoin to become the second biggest crypto-currency, and setting Ripple's market capitalization at close to half a billion dollars.
2015, Fidor Bank announed they would be using the Ripple protocol to implement a new real-time international money transfer network
Western Union was planning to "experiment" with Ripple
Bank of Australia announced it would be experimenting with Ripple in relation to intrabank transfers.
FinCEN fined Ripple Labs and XRP II US$700,000 for violation of the Bank Secrecy Act.
The year 2015 and 2016 marked the expansion of Ripple (company) with the opening of an office in Sydney, Australia and the opening of European offices in London, United Kingdom, then in Luxembourg in June 2016.
Many companies have subsequently announced experimenting and integrations with Ripple.
2017, XRP briefly became the second largest cryptocurrency, with a market capitalization of 73 billion USD.
Ripple History
OpenCoin and Ripple Labs (2012-2013)
OpenCoin developing a new payment protocol called the Ripple Transaction Protocol (RTXP) based on Ryan Fugger's concepts
enables the instant and direct transfer of money between two parties
To maintain security OpenCoin programmed Ripple to rely on a common ledger that is "managed by a network of independent validating servers that constantly compare their transaction records.
Servers could belong to anyone, including banks or market makers.
early investors = Andreessen Horowitz and Google Ventures.2
013, XRP Fund II, LLC (now called simply XRP II) was incorporated as a wholly owned subsidiary of OpenCoin, and headquartered in South Carolina.
The following day, Ripple announced its linking of the bitcoin and Ripple protocols via the Bitcoin Bridge.
The bitcoin Bridge allows Ripple users to send a payment in any currency to a bitcoin address.
Ripple developed early partnerships with companies such as ZipZap.
2013, OpenCoin Inc. changed its name to Ripple Labs Inc (Chris Larsen remaining CEO)
Ripple reference server and client became free software, released as open source under the terms of the ISC license.
Ripple Labs continued as the primary contributors of code to the consensus verification system behind Ripple, which can "integrate with banks’ existing networks.
2013, Ripple partnered further with ZipZap, with the relationship called a threat to Western Union in the press.
Ripple History
Early development (2004–12)
first developed by Ryan Fugger,
conceived of the idea after working on a local exchange trading system in Vancouver,
to create a monetary system that was decentralized and could effectively allow individuals and communities to create their own money.
2005, Fugger's first iteration of this system, RipplePay.com (financial service to provide secure payment options to members of an online community via a global network
led to the conception of a new system by Jed McCaleb
2011, designed and built by Arthur Britto and David Schwartz they began developing a digital currency system in which transactions were verified by consensus among members of the network,
to eliminate bitcoin's reliance on centralized exchanges, use less electricity than bitcoin, and perform transactions much more quickly than bitcoin.
2012, Chris Larsen (founded the lending services companies E-Loan and Prosper) joined the team
together with McCaleb and Larsen approached Ryan Fugger with their digital currency idea.
September 2012 the team co-founded the corporation OpenCoin.
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The video about ripple by our group
Ripple
requires 2 parties for a transaction to occur:
a regulated financial institution holds funds and issues balances on behalf of customers.
Second, "market makers" such as hedge funds or currency trading desks provide liquidity in the currency they want to trade in.
Ripple is a real-time gross settlement system (RTGS) , currency exchange and remittance network created by the Ripple company.