Although the ripple has It has been around since 2012, and is working with XRP Ledger to double down on its global payments journey. At the same time, it also aims to become an enterprise infrastructure provider, the company’s president, Monica Long, said on TechCrunch. Chain Reaction Podcast.
It is distinguished from the Ripple network and protocol in that XRP Ledger “It’s a decentralized public ledger that has an open source code base that anyone can contribute to or use,” Long said. She added that there are thousands of developers around the world doing this.
“The original creators of the ledger saw that this could be a modern value movement system that was as fast and free as email,” Long said. “So instead of likening the post office to email, we have the banking system today versus what you can achieve with blockchain through a decentralized exchange.”
When the ledger was first launched in 2012, Long said, it was envisioned as a version of bitcoin that would achieve faster confirmation times with a less expensive system. “Developers have believed that blockchain and a public ledger are a great way to represent, transfer, and transact value around the world.”
Blockchains are, by default, transparent with on-chain data showing the journey of a transaction, from start to finish.
“Forex is very much concentrated in terms of players who already have enough capital to provide liquidity for those transactions,” Long said. “So when you have too much concentration, you lack competitiveness in terms of pricing.”