Ripple has proven by every standard the real meaning of internet of value by the application of its decentralized financial tools and native token to facilitate payment processing. Internet of value is the online platform which enables individuals to transfer value from one person to another without the interference of any middleman.
A value could be transferred as money or content, like videos, files, and music. The emergence of the internet has enabled information to be transferred from sender to receiver as quickly as possible. Ripple has a vision for value like money to be exchanged as quickly as possible over the internet.
Ripple CEO, Brad Garlinghouse stated in his speech during the Swell Conference held last year, that the friction in the global financial system is a hindrance to growth. But blockchain offers a solution to remove this friction.
“We can truly enable an Internet of Value. We can enable money to move in the same way goods and data. We can enable global commerce to accelerate, industries to grow and a new segment of the population to be brought into the fold.”
Ripple aims to remove the friction in the transfer of value from end to end over the internet and enable seamless and cheaper global payment. Ripple has succeeded in rolling off cross-border payment hitches with its financial tools.
Beside the development of decentralized financial tools to achieve this aim, they have gone ahead to partner with so many banks and payment processors. Most of the major banks all over the globe that uses Ripple tools can now boost of doing a larger volume of the transaction at the cheapest and fastest rate.
A recent tweet affirms that Ripple can send billions to anywhere and back at a zero cost.
“Ripple and XRP are able to send billions of dollars to anywhere in the world and back again, with a cost of not even a penny. This is the future of the Internet of Value.”
The list of banks joining its network, keep growing every day. Banks control the global wealth, partnering with Ripple helps banks to achieve a seamless, fastest and cheapest transfer of value on the internet using the blockchain technology.