Although Ripple has has been around since 2012, it and XRP Ledger are doubling down on their global payments journey. At the same time, it also aims to become the go-to enterprise infrastructure provider, company president Monica Long said on TechCrunch. Chain Reaction Podcast.
Unlike the Ripple network and protocol, the XRP Ledger It is a decentralized public ledger with an open source code base that anyone can contribute to or use, Long said. And there are thousands of developers around the world who do it, she added.
“The original creators of the ledger saw that this could be a modern system for moving securities that is as fast and free as email,” Long said. “So instead of the post office versus email analogy, we have the current banking system versus what can be achieved on a blockchain with a decentralized exchange.”
When the ledger first launched in 2012, he envisioned it as a version of bitcoin that would achieve faster confirmation times with a lower-cost system, Long said. "Developers thought of blockchain and a public ledger as a great way to represent, move and transact value around the world."
Blockchains, by default, are transparent through on-chain data, which shows the journey of a transaction, from start to finish.
"Forex is pretty concentrated in terms of the players that actually have enough capital to provide liquidity for those transactions," Long said. "And then, when there is a lot of concentration, there is a lack of competitiveness in terms of prices."
