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Today R3, the corporate blockchain company, has announced the release of an application of universal open source payments on its Corda network. The company claims that the dApp of Corda Settler will allow payments through "any global payment system", both conventional and digital. XRP the cryptocurrency associated with Ripple is the first digital currency to be supported.
Up until three months ago, R3 and Ripple were involved in major disputes that sometimes were worth up to $ 18 billion at the peak price of XRP. R3 was to promote Ripple to a consortium of banks, but was diverted from its fundraising. At the same time, there was a separate contract in which R3 received options to buy 5 billion XRPs at 0.85 cents. Ripple canceled the options contract that was at the center of the dispute, but the case was solved without revealing details. Today the XRP is valued at over 34 cents.
The R3 statement said that Corda Settler would bring "Corda and XRP ecosystems into a tighter alignment".
Cordon & # 39; s Settler has the potential to allow settlement for any Rope payment obligation from any parallel payment line. It could be a cryptocurrency or a stable currency or a traditional payment line. However, in this last case, it must be able to provide cryptographic proof of the regulation. The "Oracles" that allow blockchains to communicate externally are used to confirm the agreement. Once the payment has been verified, the Corda ledger will be updated.
Plans for the next phase include support for net liquidation and gross cash payments in real time.
"While the settler will be open to all forms of cryptographic and traditional resources, this demonstration with XRP is the next logical step to demonstrate how the widespread acceptance and use of digital resources can transfer value and make payments" said Richard Gendal Brown, Chief Technology Officer at R3.
