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The Ripple Affect

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Ripple, otherwise known as XRP, was created in 2012 which makes it one of the oldest cryptocurrencies. It sets itself apart from other major digital tokens by working directly with the established financial services sector. It doesn’t work on the same blockchain platform as Bitcoin. Instead is uses a distributed consensus ledger using a network of validating servers and crypto tokens called XRP. “Ripple is a payment settling, currency exchange and remittance system intended for banks and payment networks”[1] It allows for swift and cheaper alternative than using traditional exchange systems. Although there are many positives, the platform is largely unregulated and is highly speculative.[2]

Ripple’s cryptocurrency is far more accessible at $0.50 per token than its other two main counterparts, Bitcoin and Ethereum. The current value of Bitcoin is over $6,000 per token, while the current value of Ethereum is close to $300. Ripple’s market capital has risen to $22.2 billion, slightly beating Ethereum’s $22.1 billion.

Ripple has garnered a lot of interest this year with recent additions and investments. So far this month, “…investors bet it will become the defacto way the world’s established banks and financial service firms move money across borders.”[3] Ripples’ creator, Ripple Labs, is launching a product that could help banks speed up transactions. The Ripple network is able to facilitate transfers of money between different currencies. This allows for a real-time transfer to take place and negates the extra fees. [4] This would mark one of the key moments in the integration of cryptocurrency in every day public usage.

Another way that Ripple is placing itself ahead of its competitors is by being more user friendly and playing towards a younger demographic. Some of the internet’s biggest sites, that include Youtube, Twitch, and Wikipedia, will have an option for content creators to receive Ripple payments through a browser extension.[5] A widely discussed issue with Youtube is its ad payment system for its content creators.  By using the Ripple extension app, content creators could potentially eliminate all advertisements on their videos, and only accept voluntary Ripple payments for their work.

The big advantage is that Ripple is able to bring cryptocurrency into practical use. Through its involvement with the world’s largest banks and financial service companies, it will continue to integrate and simplify the world of cryptocurrency. By being accessible to the younger demographic through Youtube and Twitch, they will soon be able to blend in to everyday currency.


[1] Marr, B. (2018, February). What Is The Difference Between Bitcoin and Ripple? Retrieved from Forbes: https://www.forbes.com/sites/bernardmarr/2018/02/28/what-is-the-difference-between-bitcoin-and-ripple/#63f53d566118. Accessed on September 27, 2018

[2] Ib.

[3] Bambrough. B. (2018, September). Ripple (XRP) Overtakes Ethereum As Second Largest Cryptocurrency On CEO’s Bullish Bet. Retrieved from Forbes: https://www.forbes.com/sites/billybambrough/2018/09/26/ripple-xrp-overtakes-ethereum-as-second-largest-cryptocurrency-on-ceos-bullish-bet/#7c45430f1c22. Accessed on September 27, 2018

[4] Op. n.1

[5] Bambrough, B. (2018, September). Ripple (XRP) Could Be Boosted By Exciting New Payment Options. Retrieved from Forbes: https://www.forbes.com/sites/billybambrough/2018/09/24/ripple-xrp-could-be-boosted-by-exciting-new-payment-options/#b3813c44a4d7. Accessed on September 27, 2018

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