#XRP #Ripplenet #Ripple #Blockchain #SBI
XRP PROJECT HISTORY
The company behind the Ripple network, originally called RipplePay, was founded in 2004, predating Bitcoin. The important insight of Ripple’s founders was that eliminating the middlemen in financial transactions would save a lot of cost and time, and create a much more efficient global payments system.
Ripple, a private company, succeeded in creating great technology for global remittances and payments. They had, however, not solved the problem that users in their system had to trust each other. After the launch of Bitcoin, Ripple changed their approach. On the one hand they introduced trusted gateways to their system that customers could interact with (basically a hybrid of the traditional and the new peer-to-peer systems), and at the same time launched the cryptocurrency XRP in 2012.
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