XRP Currency Objectives:
1. Facilitate international financial transactions
The main goal of XRP is to make transfers between countries faster and cheaper compared to traditional systems like SWIFT.
Transfers that used to take days can be completed in seconds using the Ripple network.
2. Provide instant liquidity for banks
XRP is used as a bridge between different currencies. Instead of converting dollars to euros through multiple intermediaries, the conversion can be done directly via XRP.
This reduces costs and provides liquidity without the need to hold large balances in foreign currencies.
3. Eliminate intermediaries
XRP aims to reduce the role of financial intermediaries in transactions, making the process more efficient and less prone to errors or delays.
4. Expand into emerging markets
Ripple targets developing markets that suffer from slow or costly international transfers, such as some African and Asian countries.
5. Support financial inclusion
By facilitating access to digital financial services for unbanked individuals, Ripple aims to promote financial inclusion.
⚖️ Is XRP decentralized?
The RippleNet network is not fully decentralized like Bitcoin or Ethereum, which has sparked some controversy, but it offers high efficiency and speed.
