San Francisco-based fintech startup Ripple has recently published a post explaining how customers can realize the Internet of Value through RippleNet. The Internet of Value is a new mission of Ripple. The company wants value to be exchanged as quickly as information, and with the Internet of Value, a value transaction can run very quickly. The Internet of Value is expected to enable the exchange of any asset that has value, including stocks, votes, frequent flyer points, securities, intellectual property, and more.
Ripple CEO Brad Garlinghouse announced the new Ripple’s mission at the Swell Conference, two-day annual event attended by global personalities from the financial space to discuss future prospects and growth.
— Ripple (@Ripple) October 2, 2018
The company explained how they are going to bring the internet of value to banking. People are “demanding global transactions that are seamless, real-time, certain, and cost-effective”, and RippleNet will meet their demands. To power up the Internet of Value, RippleNet brings together a robust ecosystem of players.
This network is generally made up of banks and payment providers that source liquidity and process payments, as well as corporates and FinTechs that use RippleNet to send payments. With RippleNet, banks and payment providers can realize the promise of the Internet of Value, meeting customer expectations for a modern, seamless global payments experience while lowering costs and opening new lines of revenue.
“It’s about the opportunity to be a builder — to partner with industry and enable something that hasn’t yet been seen: the dawn of another era in globalization.”
RippleNet provides network users with access to a standardized, decentralized infrastructure for consistency across the world, certainty in delivery, high speed of transactions, and lower costs.
As Ripple CEO stated, the company is unique, as it has real use cases for blockchain and real production flows due to focus on solving one problem, not many. He said:
“Too many companies have a peanut butter problem. They’ve spread themselves very thin, working on lots of different initiatives. By contrast, Ripple has gone deep in understanding how global payments problem can be addressed with blockchain technology and digital assets.”
This year, Swell Conference was attended by such figures as Bill Clinton and former White House advisor Gene Sperling. In his speech, Clinton focused on the potential the blockchain technology has, and warned lawmakers to not squeeze the development and innovation in this space with the burden of over-regulation.