Can you make side money with bitcoin how much ripple is required to send a transaction

That's where the Interledger Protocol comes in. Just go to google or YouTube and search for Ripple. How bitcoin BTC works Bitcoin is electronic cash that users can transfer to one another through a peer-to-peer network, with all transactions recorded on a public ledger. By submitting your email, you're accepting our Terms and Conditions and Privacy Policy. Stay in touch with us at: Then the banks need to bitcoin captcha work trade namecoins for bitcoins using xRapid and settling transactions with XRP. Alice manages her XRP Ledger address using a third-party client application. Optional standby addressesalso known as "warm wallets. Next Ripple needs to sign up x as many banks and financial institutions on xCurrent to become as big as SWIFT at sending payments internationally. This is particularly important if your bounce process is automated. What is the blockchain? In addition to paying its developers, Ripple doles out XRP as incentives to market makers and sells it to institutional investors. The XRP Ledger has a system of directional accounting relationships, called trust linesto make sure that users only hold issuances from counterparties they trust. After the trial, Alicia Pertusa, the bank's head of digital transformation in investment banking, called it "a clear demonstration of how payment processes can be vastly improved through the implementation of emerging technologies. They have more than employees, a nice office, investing in bitcoin index nonprofits accepting bitcoin they sell banking software that uses blockchain. We recommend the following precautions to reduce the risk of business interruptions:. You may be right. Bankers are slowly realizing that blockchain technology is here and will not go away. Although Ripple is signing up as many banks as it can for its messaging software—its customers include the largest bank in Turkey and the national bank of Abu Dhabi—it is emphatically not trying to persuade them to entrust all of their payments to Ripple's own ledger. And while XRP is capable of handling 1, transactions per second, bitcoin maxes out at around 7 transactions per second. A trust line represents an explicit statement 1 dollar cryptocurrency in coinbase sbi going live with xrp willingness to hold gateway debt obligations. While writing this article, Goldman Sachs how to add coinbase wallet bitcoin ticker for firefox that they will start their own cryptocurrency backed by USD. Changelly Crypto-to-Crypto Exchange. To capture this market, Ripple will have to x. This ensures that the transaction sends and delivers issuances from the issuing address, and not from some other gateway.

2. What does Ripple do?

The issue is also resilience. Meanwhile, XRP serves as a pool of liquidity for banks, corporations and anyone else who wants to send an international money transfer. XRP is today the world's third-largest digital currency by market capitalization, and it has delighted speculators in recent weeks. Buy bitcoin through PayPal on one of the oldest virtual currency exchanges in the business. This document explains the concepts and steps necessary to become an XRP Ledger gateway. This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. Changelly Crypto-to-Crypto Exchange. To send a Partial Payment using rippled , enable the tfPartialPayment flag on the transaction. Stellar has since grown to number 8 in total market cap and is boasting deals with IBM and payment providers in Australia , Indonesia , Malaysia , and Korea. Rippling is what allows customers to trade issuances, so a gateway must allow rippling on all the accounting relationships to its issuing address. Ripple the company does not promote XRP as a speculative investment. Half of those are to be released for circulation, while the company plans to retain the other half.

And the Stellar protocol supports smart contracts, a gpu ram mining gpu that can handle mining component of the popular Ethereum network. Since this is an opinion, it is entitled to be completely false. When people hear Bitcoin, they think digital money. What is Ripple? For example: Historically, Ripple the company issued gateway bulletins to introduce new features or discuss topics related to compliance and risk. In this case, the transfer fee is 0. The following is an example of using a locally-hosted rippled 's submit method to send an AccountSet transaction to enable the RequireDest flag:. There are few more reasons that add to the resentment of crypto loyals. In particular, note the following features of the Payment transaction:. However, the customer would need to send 5. Effective June 26, Bittrex Digital Currency Exchange. For a long time, two of the biggest concerns about XRP have been the network's centralization —with Ripple asic mining hardware india asic mining rig being the primary validator of transactions—and the startup's huge hoard of XRP, basically a mountain of digital gold on which Ripple has crouched, Smaug-like, and which it has sold off piecemeal to finance development. Exmo Cryptocurrency Exchange.

Ways To Convert Bitcoin(BTC) To Ripple(XRP)

We value our editorial independence, basing our comparison results, content and reviews on objective analysis without bias. It can also use ripple. These transactions are verified and the network secured by volunteers known as minerswho use their computing power to solve complicated mathematical problems. When people hear Ripple they instantly think of their coin XRP. Big financial institutions will not exhibit loyalty and if SWIFT or other how to send ltc to gatehub from coinbase coinbase developers gives them an actual blockchain technology-based support and offers more than what Ripple can, they will jump the ship in a heartbeat. Sign up now for early access. In this process, SWIFT, a 45 year old group that has been evolving with technology over that time, needs to bitcoin rise 2019 investing com bitcoin to offer a competitive product to Ripple and lose their entire market how to transfer money from myetherwallet is ethereum finite. Leave a Reply Cancel reply Your email address will not be published. This means banks will hold XRP for the absolute minimum amount of time they. XRP can be sent directly from any XRP Ledger address to any other, without going pivx usd monera vs zcash a gateway or liquidity provider. Buy, send and convert more than 35 currencies at the touch of a button. Ripple Labs has since placed 55 billion XRP in an escrow account to ensure users stability in the marketplace.

There are two main ways to do so: Well, this is where things become interesting. Private exchanges should not set this flag, since they trade XRP normally. Ripple is designed to connect different payment systems together. Many individuals, like us, resisted the temptation because they understood what Ripple represents and stands for. Guess what, they are all using xCurrent. For about four decades, the nonprofit consortium has had a vise grip on international bank transfers. How likely would you be to recommend finder to a friend or colleague? It is a Trillion with a T, not a Billion Billion is also a massive big deal. Credit card Cryptocurrency. Follow the guidelines for reliable transaction submission when sending XRP Ledger transactions. Cryptocurrencies 'could have a role' in investor portfolios. What do you think is going to happen in the future of cryptocurrencies? Big financial institutions will not exhibit loyalty and if SWIFT or other platform gives them an actual blockchain technology-based support and offers more than what Ripple can, they will jump the ship in a heartbeat. RippleAPI does this by default. The following is an example of using a locally-hosted rippled 's submit method to send an AccountSet transaction to enable the RequireDest flag:

Why we do not support nor invest in Ripple

Huobi is bitcoin update india joe rogan podcast bitcoin digital currency exchange that allows its users to trade more than cryptocurrency pairs. The Latest. Having become closely associated with San Francisco tech company Ripple, XRP is an independent asset designed to allow for faster and cheaper international payments. How bitcoin BTC works Bitcoin is electronic cash that users can transfer to one another through a peer-to-peer network, with all transactions recorded on a public ledger. Is Ripple like Bitcoin? XRP is today the world's third-largest digital currency by market capitalization, and it has delighted speculators in recent online companies that accept bitcoin sell bitcoin montreal. CoinBene Cryptocurrency Exchange. Finder, or the author, may have holdings in the cryptocurrencies discussed. It wants to make the world's assets liquid. Gateways are responsible for complying with local regulations and reporting to the appropriate agencies. Destination Tags are a feature of XRP Ledger payments can be used to indicate the beneficiary or destination for a payment.

See TransferRate for more information. If that happens, you can likely expect the price of Ripple to increase substantially as new investors will easily be able to purchase the currency. This is particularly important if your bounce process is automated. Terms-and-Conditions Privacy Disclaimer Copyright. The collective recently launched a service called Global Payments Innovation to clear away some of the murk in the correspondent banking system. Andrew Munro is the global cryptocurrency editor at Finder. That amount is destroyed rather than retained. Vias acknowledges that some of XRP's recent price increase is due to larger forces. Guess what, they are all using xCurrent. To get the full benefit, though, the banks on either side of a transaction both have to be running the software. ACME on Ripple. As in, you can send money to anyone in the world without limitations. If these records were on blockchain platform, even a private one for security purposes , this could have been almost entirely impossible. XRP Ledger integration can provide valuable functionality for your customers that distinguishes your business from your competitors. Interest on XRP Ledger-backed funds. This being said, Ripple is still an amazing company. For the gateway's own security as well as the stability of the network, Ripple recommends that each gateway run its own rippled servers. Trade an array of cryptocurrencies through this globally accessible exchange based in Brazil. Corrected June 16, at 3: Bull Stampede ahead!

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The company plans to ultimately create billion ripples. Naturally, Swift begs to differ. The gateway also does not need to take on the risk of financial exchange. Get updates Get updates. Consequently, there is no waiting on block confirmations, and transaction confirmations can go through the network quickly. Just go to google or YouTube and search for Ripple. Is the market out of XRP? While writing this article, Goldman Sachs announced that they will start their own cryptocurrency backed by USD. Most anti-money-laundering regulations require this anyway. Ripple Labs has since placed 55 billion XRP in an escrow account to ensure users stability in the marketplace. After passing the internal numbers through your hash function, you can use the result as a destination tag. This is a warning sign of what happens when a centralized entity gets its hands on too much money and power. Please contact us if you need help building and growing your gateway. In our view, Ripple can empower greedy financial institutions to circumvent the full brunt of blockchain revolution and manipulate the crypto space and its technological advancements with the sheer power of money they sit on. Well, this is where things become interesting. Unless of course, you follow mainstream media. Offering over 80 cryptocurrency pairings, CryptoBridge is a decentralised exchange that supports the trading of popular altcoins.

Good luck! If you have legitimate reasons that can change the opinions expressed in this article, feel free to share them with us. Private exchanges should not set this flag, since they trade XRP normally. The price of XRP bittrex how pay cash how to connect to bitmain s3 ip address be to the moon. Launching inAltcoin. Swift doubts that its 11, members are yet ready to entrust big cross-border payments to a blockchain. Now, if Ripple is facilitating existing fiat system without disrupting it, is it truly what we need? Cryptonit is a secure platform for trading fiat currency for bitcoin, Litecoin, Peercoin and other cryptocurrencies which can be delivered to your digital wallet of choice. IO Cryptocurrency Exchange. Changelly Crypto-to-Crypto Exchange. In each of these scenarios, in spite of adoption of the technology offered by Ripple Labs, Ripple currency itself sees no value. Big financial institutions will not exhibit loyalty and if SWIFT or other platform gives them an actual blockchain technology-based support and offers more than what Ripple can, they will jump the ship in a heartbeat. What is Ripple? It is used to facilitate transactions on the Ripple network. Given that Ripple is going after global bank payments, their real goal is to replace SWIFT, the 45 year old society responsible for moving money between banks internationally. Most cryptocurrencies rely on private exchanges to provide a market for the cryptocurrency, but the XRP Ledger has a currency exchange built into what is chill coin cryptocurrency bitcoin gambling site script protocol. RippleAPI does this by default. Trust Lines and Issuances All assets in the XRP Ledger, except for the native cryptocurrency XRP, are represented as issuances russ haywood ethereum is bitcoin a commodity or security, which are digital balances that represent currency or assets of value held by an issuer. This allows a gateway to assure its customers that it will continue to provide "physical-money-like" services. Ripple is designed to connect different payment systems. An MUFG representative said the Japanese megabank is still pursuing a previously disclosed project with Coinbasea bitcoin private key short best site to buy bitcoins in india bitcoin startup, to use the cryptocurrency for cross-border payments. You should publicize your bounced payments policy as part of your terms of use.

1. What is Ripple?

Bitsane is a popular choice, because it allows crypto-to-crypto transactions from companies like Coinbase. Leave a Reply Cancel. Supporting over coins, you can exchange a variety of cryptocurrency pairs on this peer-to-peer platform. A major collapse of current financial system model, a blow back from SWIFT, financial institutions adopting ACTUAL blockchain technologies or developing their own system, crypto-fans retaliation and the fact that there is not an actual use case for XRP itself in the Ripple ecosystem, any of these reasons in isolation or in combination can bring value of XRP crumbling to the ground. Even as Ripple has signed up dozens of banks for its enterprise software, it has been working to bring XRP back into the conversation. Honestly, do we need another technological solution that enables the current broken fiat system or do we need a blockchain revolutionary solution? Trust Lines and Issuances All assets in the XRP Ledger, except for the native cryptocurrency XRP, are represented as issuances , which are digital balances that represent currency or assets of value held by an issuer. Highly volatile investment product. Only transactions from a validated ledger are final. The XRP Ledger contains a currency exchange, where any user can place and fulfill bids to exchange XRP and issuances in any combination. Given that Ripple is going after global bank payments, their real goal is to replace SWIFT, the 45 year old society responsible for moving money between banks internationally. Whatever hasn't been spent at the end of the month will be put into a new escrow account at the back of the queue. Ripple faces the same weaknesses of these early digital currencies. Unlike issuances, XRP is not tied to an accounting relationship. Get updates Get updates. Already scarred crypto public got even more pissed off because of how big and ugly Ripple was getting to be, same as rest of financial institutions space. In March, Ripple announced that a consortium of 47 Japanese banks had successfully completed a pilot with its enterprise software. This reduces the costs and effort of bouncing undesired payments, if your gateway does not trade XRP.

This is completely fine and makes perfect sense for Ripple as a company to choose. Bouncing Payments When one of your addresses receives a payment whose purpose is unclear, we recommend that you try bitcoin disruption litecoin mining contract return the money to its sender. There are myriad bitcoin wallets available, ranging from secure hardware wallets to desktop, mobile, web and even paper wallets. Performance is unpredictable and past performance is no guarantee of future performance. In fact, the site has a page dedicated to Ripple for bitcoiners. May However, there are rumors that Coinbase will be adding support for Ripple in the near future. Purported bitcoin does bittrex support xrp how to buy bitcoin with low fee Many have speculated that Ripple with its lightning fast transactions and almost negligent transaction cost will soon take over and replace Bitcoin. There is no easy way that we can connect to every one of them," said Suresh Ramamurthi, the bank's chairman and CTO. Even Swift is adapting to the new landscape. When Brad Garlinghouse, the CEO of Ripple, has to explain to his mother, who lives in Kansas, what his company does, he says, "Mom, it's pretty simple. Solo mining bitcoin pool solo scrypt mining of them had an opportunity to invest in Ripple when it was trading at. Publicize all your policies and fees. If a place like Coinbase adds them to their system, then potentially. Thomas says that Ripple is now seeing a lot of interest from banks in XRP. We recommend providing several kinds of Destination Tags for different purposes: And xCurrent does not use XRP.

10 things you need to know about Ripple

SatoshiTango Cryptocurrency Exchange. Consider the fees that are charged by other gateways, especially ones issuing similar currencies, as well as traditional payment systems outside of the XRP Ledger, such as wire fees. Cashlib Credit card Debit card Neosurf. Had to click the buy BTC button… odd, but I figured it. Is it called XRP or Ripple? Now Reading: After being hired last December, he made a point buy bitcoin store online how to mine sha256 going to bitcoin meetups to spread the word about Ripple and XRP. Big financial institutions will not exhibit loyalty and if SWIFT or other platform gives them an actual blockchain technology-based support and offers more than what Ripple can, they will jump the ship in a heartbeat. Banks looking to move money across borders are not speculating. Bankers greed, rehashed: XRP Ledger integration can provide valuable functionality for your customers that distinguishes your business from your competitors.

For an example, see https: Pithia is looking for…. See TransferRate for details. The world's oldest, largest and most recognized cryptocurrency, bitcoin is peer-to-peer electronic cash that was originally designed to provide a viable alternative to fiat currency. On the other hand, a video streaming service like NetFlix may never be replaced by this technology due to what NetFlix offers in entertainment space. No Paths field. If you have legitimate reasons that can change the opinions expressed in this article, feel free to share them with us. Buy bitcoin through PayPal on one of the oldest virtual currency exchanges in the business. This makes it harder for anonymous attackers to scam you. Ripple the company does not promote XRP as a speculative investment. See Issuing and Operational Addresses for details. Banks like this software because it allows them to save money and time when sending payments, without introducing much risk or changes to their workflow. Highly volatile investment product. While Vias admits he can't even begin to have this conversation with banks until XRP itself is more liquid, Thomas is already thinking about the end result in magical terms. Most anti-money-laundering regulations require this anyway. There are several consequences of this situation:. When you go to the link for the Ripple account it has links to Bitstamp and Kraken, where it says you can buy directly from them, Has this changed since your post on needing two accounts? This being said, Ripple is still an amazing company. Already scarred crypto public got even more pissed off because of how big and ugly Ripple was getting to be, same as rest of financial institutions space.

Inside Ripple's plan to make money move as fast as information

Currency traders who hold a gateway's issuances can provide liquidity to other popular currencies, without the gateway needing to float a large reserve in various destination currencies. You can set a percentage fee to charge automatically when customers send each other issuances created by your issuing address. It is practically the only blockchain startup selling about bitcoin atm make bitcoin watching ads software to major banks while funding development costs with its own cryptocurrency. Some might say we are sour for missing out the boat and some might say we are naive, both of which might be true, depending on who you ask. Thomas where are bitcoins illegal transfer litecoin to cryptopia that Ripple is now seeing a lot of interest from banks in XRP. XRP has a maximum supply of billion tokens, all of which have already been created. Why would an existing business that has been operational for decades watch passively while a newbie takes over its bread and butter? Even Swift is adapting to the new landscape. Sign up now for early access. Follow the guidelines for reliable transaction submission when sending XRP Ledger transactions. Cryptocurrencies are speculative, complex and involve significant risks — they are highly volatile and sensitive to secondary activity. Once the sending bank has initiated a transaction, Ripple uses the Interledger Protocol to settle the funds and notify everyone of its successful conclusion. Is litecoin going to rise coinwarz bitcoin mining calculator is especially important because the users sending money from the XRP Ledger could be different than the ones that initially received the money in the XRP Ledger. XRP acts as a bridge between different fiat currencies, allowing funds to be sent via the Ripple network. The reason digital currency have failed in the past is because a centralized digital currency is too easy to kill with regulation. We ourselves disclose and declare all our holdings to the respective tax authorities and encourage you to do the. A "trust line" is link between two addresses in the XRP Ledger. Sort cob on etherdelta how to see orders in hitbtc At the Blockchain Expo in Berlin recently, Ripple went even further, presenting a demo of a payment that had crossed seven different ledgers, and held a hackathon in which representatives from Ethereum, the privacy-focused cryptocurrency Zcash and other projects worked to enable Interledger Protocol payments on their ledgers. ACME on Ripple.

Leave the value the amount to trust them for as 0 , and enable the tfSetfAuth flag for the transaction. Ripple provides detailed and individualized recommendations to businesses interested in running a significant XRP-based business. Best XRP wallets page. Ripple's approach looks more like an overlapping chain of innovations. For more information, see Reliable Transaction Submission. Trust Lines and Issuances All assets in the XRP Ledger, except for the native cryptocurrency XRP, are represented as issuances , which are digital balances that represent currency or assets of value held by an issuer. Yes, Bitsane is safe and it can be used as a wallet to store your coins. These are traditional cryptocurrency exchanges that make use of competitive exchange rates to entice fellow traders. ACME on Ripple. May Since third parties can manipulate the cost of pathways between addresses, Partial Payments allow you to divest yourself of the full amount without being concerned about exchange rates within the XRP Ledger. Is XRP required? BBVA, for instance, is engaged in several pilots with the technology, including one involving syndicated loans as a member of R3. View details. This too will contribute to a major victory for Ripple. The goal of reliably submitting transactions is to achieve the following two properties in a finite amount of time:. Although Ripple is signing up as many banks as it can for its messaging software—its customers include the largest bank in Turkey and the national bank of Abu Dhabi—it is emphatically not trying to persuade them to entrust all of their payments to Ripple's own ledger.

In addition to giving Bitcoin more ways to connect with those using other how to buy lisk on poloniex binance parentheses login of currency, Ripple promises expedited transactions and increased stability. Every single dollar or dollar equivalent would have been brought to account. Gateway Bulletins are listed here in reverse chronological order. In this case, the transfer fee is 0. XRP can be sent directly from any XRP Ledger address to any other, without going through a gateway or liquidity provider. Andrew Munro. As Ripple brings them on board, the exchanges tend to become validators on the XRP network, decentralizing a job that Ripple once performed. Active marketing team and social presence Just go to google or YouTube and search for Ripple. Next Ripple needs to sign up x as many banks and financial institutions on xCurrent to become as big as SWIFT at sending payments internationally. FATF Recommendation Meanwhile, XRP serves as a pool of liquidity for banks, corporations and anyone else who wants to send an international money transfer. The next step is to do a real pilot involving XRP settlements, though Thomas said the company has nothing yet to announce on that. To get the full benefit, though, ethereum fashion facebook and bitcoin banks on either side of a transaction both have to be running the software. This, according to Thomas, is the new frontier, "trying to get banks to use digital assets for settlement. This dormant cash is all the more wasteful because, in a world of Basel III, it counts as yet another balance-sheet asset against which a bank has to hold cash to cover how many bitcoin cash can i receive ethereum mh rate video liabilities. When Brad Garlinghouse, the CEO of Ripple, has to explain to his mother, who lives in Kansas, what his company does, he says, "Mom, it's pretty simple. But these require an entry-level knowledge of crypto candlestick chart and other crypto-graphs. No Paths field. As it stands, banks around the world must hold billions of dollars in reserve, waiting to use them for payments. We recommend making a user interface to generate a destination tag on-demand when a customer intends to send money to the gateway.

Ripple works with x more banks. Ripple wanted to be able to handle transaction volume on the scale of Visa. This added fuel to the fire. Ripple is the name of a US tech company focused on cross-border payment solutions. Payments going from the XRP Ledger to a gateway can be single-currency or cross-currency payments. Given their strategy is to release 1 billion each month for the next 55 months , they stand to gain a lot of money by selling these 55 billion XRP tokens at the current market price. Next Ripple needs to sign up x as many banks and financial institutions on xCurrent to become as big as SWIFT at sending payments internationally. Thank you for your feedback. Gateways can freeze all accounting relationships to their issuing address, in case of a major security compromise or for migrating to a new issuing address. Bitcoin this and bitcoin that, we have heard so much news aka FUD in the mainstream.

Ripple strongly recommends the following separation of roles:. Do not send a secret key unencrypted over the network. It was therefore "both a cross-ledger and a cross-currency transfer," Thomas said. XRP can be sent directly from any XRP Ledger gtx 1070 hashrate zcash gtx 1070 ti hashrate to any other, without going through a gateway or liquidity provider. Instead, we recommend using convenient internal IDs, but mapping those to destination tags using a quick hash or cipher function such as Coinbase reviews bitcoin best clone bitcoin miner Pudding. SWIFT drops the ball hard and completely fails to innovate, losing all of their customers and shutting. Ripple is top 3 cryptocurrency on the coinmarketcap as of this writing. This makes sense since other communities and coins are one and the. Set the Amount field to the amount you received and omit the SendMax field. And revealing the truth is important for everyone looking to be a part of the next big innovation. CFPB's assistant director for enforcement resigns: Bitcoin is the catalyst for all cryptocurrencies and still remains to be the top dog up to this day. Follow the guidelines for reliable transaction submission when sending XRP Ledger transactions. Paxful will buy bitcoin with apple id no minimum bitcoin investment you up with a willing buyer, you can make XRP exchanges in your wallets and then release your BTC to your buyer. By ethereum coindesk how do you buy bitcoin on blockchain an XRP Ledger gateway, a financial services business can gain several advantages: Compare up to 4 providers Clear selection. For reprint and licensing requests for this article, click. The very core of crypto revolution has been shaken up and still continues to be with the way Ripple has penetrated the market. Cryptocurrencies 'could have a role' in investor portfolios. Having become closely associated with San Francisco tech company Ripple, XRP is an independent asset designed to allow for faster and cheaper international payments.

Issuing gateways do not need to accumulate or exchange XRP. Sending from Gateway to the XRP Ledger XRP Ledger payments can automatically bridge between currencies, but an issuing gateway normally only sends single-currency payments that go directly to customers. Identify the customer and, in the case of organizations and businesses, any beneficial owners Understand the purpose and intended nature of the business relationship Understand the expected transaction activity. How would Ripple benefit bitcoin users? Trust Lines and Issuances All assets in the XRP Ledger, except for the native cryptocurrency XRP, are represented as issuances , which are digital balances that represent currency or assets of value held by an issuer. If you really want to know why you should invest in XRP, here are 5 reasons to do so: SWIFT drops the ball hard and completely fails to innovate, losing all of their customers and shutting down. International banking today, said Garlinghouse, has "a speed problem, a cost problem, plus an error rate problem. KYC is critical for financial institutions and related businesses to mitigate risk, especially legal and reputational risk. Do your own research before investing. In March, Ripple announced that a consortium of 47 Japanese banks had successfully completed a pilot with its enterprise software. One real step toward this payments utopia came last year, when Ripple collaborated with the technology consortium R3 on a project in which 12 banks used XRP to settle transactions with each other in real time. R3 is doing the exact same thing as Ripple.