Viewing a response to: @kongzilla/re-kyleanderson-re-olyup-fck-you-money-the-rise-and-fall-of-xrp-20170521t013448780z
In addition to Kyle's great explanation above there is one other point. Ripple's block-chain technology is what is primarily being pushed by Ripple. The Ripple network has the potential to save banks 33% of their remittance costs; however, if those banks use XRP as the transfer-of-value unit, total transaction costs can be cut by 60% versus what is currently paid. This is how Ripple will try to promote XRP. Whether or not XRP ever ends up being used by large financial sectors, I believe Ripple's current business plan will definitely make them a front runner in working alongside banks that need to badly update from their current practices.
post_id | 13,952,411 |
---|---|
author | rogeremmick |
permlink | re-kongzilla-re-kyleanderson-re-olyup-fck-you-money-the-rise-and-fall-of-xrp-20170928t044323228z |
category | ripple |
json_metadata | "{"app": "steemit/0.1", "tags": ["ripple"]}" |
created | 2017-09-28 04:43:24 |
last_update | 2017-09-28 04:43:24 |
depth | 3 |
children | 0 |
net_rshares | 0 |
last_payout | 2017-10-05 04:43:24 |
cashout_time | 1969-12-31 23:59:59 |
total_payout_value | 0.000 SBD |
curator_payout_value | 0.000 SBD |
pending_payout_value | 0.000 SBD |
promoted | 0.000 SBD |
body_length | 650 |
author_reputation | 17,245,137,706 |
root_title | "FCK/YOU Money: The Rise and Fall of XRP" |
beneficiaries | [] |
max_accepted_payout | 1,000,000.000 SBD |
percent_steem_dollars | 10,000 |