why its correct time to invest in ripple

The predecessor to the Ripple payment protocol, Ripple pay, was first developed in 2004 by Ryan Fugger, a web developer in Vancouver, British Columbia. Fugger conceived of the idea after working on a local exchange trading system in Vancouver, and his intent was to create a monetary system that was decentralized and could effectively allow individuals and communities to create their own money. Fugger's first iteration of this system, RipplePay.com, debuted in 2005 as a financial service to provide secure payment options to members of an online community via a global network.

This led to the conception of a new system by Jed McCaleb of eDonkey network, which was designed and built by Arthur Britto and David Schwartz. In May 2011, they began developing a digital currency system in which transactions were verified by consensus among members of the network, rather than by the mining process used by bitcoin, which relies on blockchain ledgers. This new version of the Ripple system was therefore designed to eliminate bitcoin's reliance on centralized exchanges, use less electricity than bitcoin, and perform transactions much more quickly than bitcoin. Chris Larsen, who had previously founded the lending services companies E-Loan and Prosper, joined the team in August 2012, and together McCaleb and Larsen approached Ryan Fugger with their digital currency idea. After discussions with long-standing members of the Ripple community, Fugger handed over the reins. In September 2012 the team co-founded the corporation OpenCoin, or OpenCoin Inc

More than 75 banks are now on Ripple's blockchain network

Ripple, which offers a blockchain-like rail for faster settlement of international payments, and has nothing to do with bitcoin, has added 75 banking clients already.

Ripple announced on Wednesday it has signed 10 new banks from all over the world, including BBVA in Spain; MUFG in Japan; Akbank in Turkey; SEB in Sweden; and Axis Bank and Yes Bank, both in India. Add those 10 to the 47-bank consortium in Japan that implemented Ripple in March. And add those 57 to existing big-name clients like Bank of America, RBC, Standard Chartered and UBS, and Ripple starts to look like it’s gaining traction very quickly.

“Our pace [of signing new clients] has dramatically increased,” says Ripple CEO Brad Garlinghouse. “I also think people are getting more comfortable with blockchain technologies. It’s no longer a science experiment. It’s not theory, it’s very real.”

The bitcoin blockchain is a decentralized, public, permissionless ledger that records every transaction and trade done in bitcoin. But now all manner of companies, from “blockchain as a service” startups like Ripple and Chain to established tech giants like IBM, are developing all manner of blockchains for areas like food shipment tracking, smart contracts, and agriculture. In many cases these applications of blockchain are closed and permissioned, which is a very different proposition than the spirit of the anonymized, open-to-all bitcoin blockchain. In banking, for now, the main appeal is to improve the efficiency of their transaction processing.