The word Ripple is known more frequently as by the name of digital currency XRP which is a network to transfer money. Well, the word Ripple represents the name of this private company which holds this open payment network. The aim and motive of the company on which it is built and work are to create a more suitable, secure, fast and easy global network of financial institutions that can lower the cost of international payments for everyone. The company owns their very own software which is known by the name of the internet of value.
Well if you think about this whole idea the company is bringing you can see a revolution in the payment industry. For a person living in India who has to send some money to her Grandmother in America might have to face more loss because of the low-income value of India. So, the company is trying to obtain and provide people the technology we have left so far behind that should be used in the 21st century. The financial institutions also are making trillions by charging fees and other charges but the traditional system is totally against it.
Why is and Ripple should be centralized as a new financial institution:
The whole idea of the company is based on improving and lowering the financial charges one has to face during international sending and receiving of money. It is better than before in so many ways. You get low charges, you get more money and you also get to have a perfect record of the sending and receiving of your money. No more multiple charges that damage your finance.
Well, the whole strategy for this new dilemma has been formulated, let’s see when are we going to really enjoy this new change in the modern payment industry.