Welcome back to another blog post guys! Today we will be discussing why we are so confident in Ripple and XRP.
It all comes down to the Internet of Value. This is what the Interledger Protocol is going to enable and XRP will be the bridge asset used in this Internet of Value.
We’ve seen the amount of partnerships Ripple and Hyperledger have formed. They have collectively partnered with over 300 enterprises, from central banks to massive corporations like Apple and Microsoft.
The mainstream media are still selling Ripple as a cross-border payments company. Whilst this is the case and Ripple are significantly improving the current payment systems, they are so much more than this.
Let’s go back a few steps and talk about the internet. On the internet we have IP addresses, many of you will be familiar with this. IP stands for Internet Protocol and it is a layer on the internet that means you can send packets of information instantly between different networks.
In the Internet of Value, Ripple have created the Interledger Protocol (ILP). This is the same as IP, except it isn’t for sending packets of information, instead it is to allow the instantaneous sending of packets of value. So ILP enables the exchanging of value across multiple networks.
Let’s give you an example. If you owned some Ethereum and you wanted to exchange it for some TRX it isn’t going to allow you to do this transaction without suitable bridge asset. You couldn’t use Bitcoin as this bridge asset as it is too slow for starters, not to mention the scalability issues. XRP is currently the fastest, cheapest, most scalable digital asset and as such is the only coin suitable to be this bridge asset.
The Internet of Value and interoperability is the future.
This is what it is all about and this is the society we are shifting towards; a society where payments by anyone, in anything, to anywhere in the world is a reality.
We are all part of this journey towards adoption and interoperability, so we all need to enjoy the journey, be happy, be patient and live long and HODL!
Written by Dominic Zohreh
Twitter – domz_invests
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Scott’s video on topic - 