Self proclaimed the "Global Settlement Network", Ripple (XRP) has demonstrated over the last six months that it is a contender in the digital currency space. XRP recently was successfully tested in the UAE's largest bank, known as the Al Rajh. This is a significant development because Al Rajh is one of the largest banks in the Middle East with assets totaling around $80 billion usd. The XRP technology will allow Rajh, as one of the largest remitters to make transfers across borders in the Middle East within in seconds, significantly delaying the amount of time it takes to make transfers, and at a much cheaper cost (www.zawya.com).
The biggest question is, should I invest? Do your research and make sure you understand international regulations associated with the largest markets (Middle East, Europe etc). I am looking at XRP as a long term hold and for a small investment now. At thus price the return can easily be 100x and beyond etc. XRP is a game changer in the financial industry and within the next five years I think we will see an impact in the United States and across Europe as the blockchain technology plays a more direct role in the financial sector Banks will save money on remittance fees and will have the capability to transfer funds at a more efficient rate.
As always, only invest with what YOU are willing to lose. The good news is with XRP, if you cut back one coffee a day for a month you can almost have 500 XRP coins at current market price!
Happy hunting!
Ripple has demonstrated also that it will issue as many units of itself as it feels like, even if they are "locking up" excess shares for a temporary time.
I'm wary of a digital crypto currency that emulates the fiat world -- haven't we learned enough from their mistakes? Apparently not.
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Agreed. This is definitely a good argument and something cryptos should consider. The other factor I think a lot of people are not thinking about is security. Yes, the xrp platform is secure but is an instant transfer going to pass the test of security standards in Europe and the United States?
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The price is much low now.
The expectation of a value is difficult. Correspondence is necessary for adaptation to circumstances by the situation.
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