RIPPLE: Old Economy’s Crypto-Future?

Ripple (XRP) is a payment network for banks to make international payments between them more efficient and cost-effective. The project is primarily dedicated to payment transactions between different currencies and tries to make inefficient payment corridors more efficient.

Banks or payment service providers face two problems when conducting transactions across national borders (in different currency areas): On the one hand, liquidity must be available in all currencies involved, and on the other hand, it must be ensured that the payment works.