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The new Ripple Ad indicates how slow traditional banking systems are
The recognized financial and cryptographic company Ripple has just published a new advertising related to the banking sector. In the announcement, you can see how Ripple takes pride in current cross-border payments made by financial institutions. At the moment, transferring money between one country and another takes a long time and is highly inefficient due to the costs that have to be paid.
However, with the system created by Ripple, transaction times and costs associated with transfers can be drastically reduced.
It's faster to get on a plane and fly money across borders than send it as a digital payment. @Ripple it's changing. Further information: https://t.co/fWuGHcp3Tu pic.twitter.com/RAxEks9qxv
– Ripple (@Ripple) October 30, 2018
At the same time, those customers who use XRP can further reduce costs and transaction times. Moreover, if the intention is to transfer even more value, XRP will have to increase its price. This is what Ripple's Chief Cryptography Officer said a few days ago.
"The higher the price of XRP, the greater the payment ripple that can be addressed …"@JoelKatz #XRP #Ripple #XRPcommunity #XRPthestandard #crypto #micropayments #payments #blockchain #fintech #crypto #altcoins #finance #banking
* Infographics: Ripple and XRP * https: //t.co/ICQxJNIr8e pic.twitter.com/m9cLOtHo4U
– XRP_Cro (@stedas) 29 October 2018
Beyond that, there's a new platform that will allow users to process instant XRP transactions using just a phone number. The XRP text service allows users to send XRP to a staff wallet and any mobile number, even if the recipient has never used that platform.
Interested users can send and receive funds without friction because they do not need to register to use the service. However, the system is currently in a public beta.
XRP Flash text massage system pic.twitter.com/z2aLqb44XQ
– XRP VETERAN ✖️ (@XRP_VETERAN) 29 October 2018
XRP text It was launched by WietseWind, a recognized XRP developer who has already created an XRP Tip Bot. However, it warns users that, as the system is improved, there may be defects or bugs.
The XRP and Ripple community is demonstrating how it is possible to improve the financial world without having to rely on old and inefficient systems. In the future, as the number of xRapid users increases, SWIFT may have a real competitor in the market.
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