Can Ripple Become World’s Largest Payment Protocol?

Ripple is without doubt, so far, the most successful blockchain project that focused on building the platform for transactions. Every day new financial institutions are joining the network to test what the blockchain can do for the industry of transaction processing.

Ripple Transaction Protocol is built upon a distributed open source Internet protocol, consensus ledger and native currency called XRP. It does not only support cryptocurrencies, but can be used for fiat currency or any other asset, commodity to be sent through the protocol. The basis of the protocol is a public ledger with a consensus process that allows for transactions in a distributed process.

The advantages that the protocol brings, are mostly focused on speed and cost per settlement, while also enabling security of a traditional financial payment protocols.

Average daily payment volume of XRP ledger is already around 500 mio USD, and the market is growing rapidly. Imagine that Ripple could some day become the new foreign exchange market, which today amounts to $ 5.3 trillion of daily volume.

The number of gateways in RTXP is increasing rapidly. Gateways enable users to put money into and take money out of Ripple’s liquidity pool, and with growing number of gateways, there is a growing need for connectivity of those numerous entry and exit points.

There is a real need for a market maker between those points and that is where we as a market maker come in play.

Bellow you will see the example of only two gateways (Bitstamp — Gatehub), where, at its peaks, the users had to take 15% and even 25% haircut for USD dollar to USD dollar transaction.

By positioning ourselves on different gateways we can create liquidity for the users and earn a fraction on every settled transaction. Of course, the total market consists of many more gateways and 15+ crypto and fiat currencies. The potential is unprecedented…