Demo: How RippleNet Works – A Product Overview (2018)
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Demo: How RippleNet Works – A Product Overview (2018)


a ripple we’ve talked a lot about the internet of value our North Star of enabling money to move like information does today but how does the internet of value translate into banking it starts with your customers your customers payment demands are changing and the internet of value plays a large part in delivering on those demands for consumers and businesses they are demanding global transactions that are seamless real-time certain and cost effective yet today’s global transactions fall far short of those expectations that’s because the current payments infrastructure is a patchwork of centralized networks legacy technology and different payment rails its disparate the technology systems of record messaging and rules are different from one network to the next it’s slow it takes an average of three to five days to settle across the numerous intermediaries its error-prone failure rates are high and data flow between intermediaries is poor and it’s costly processing costs are high an average of twenty five to thirty five dollars for each payment the downstream impact of these problems provides a subpar experience that’s driving customers from your bank to FinTech providers that can provide a better customer experience we’re solving this with ripple net which is the cornerstone of enabling the internet of value ripple net is a global decentralized network that brings together a diverse ecosystem of payments players for the first time in history let’s look at what could be the fully realized future state of ripple and starting with the ecosystem of players who are categorized into two functional groups first or network users these are corporates SMEs small banks and payment providers who only send payments second are the network members these are banks and payment providers that serve as the foundation of the network as they process payments and source of the quiddity network members process payments through our product X Current which provides real-time settlement with bi-directional messaging with X current banks and payment providers can process payments more efficiently through the pre validation of every transaction to eliminate failures and through rich data attachments for every payment it also provides payment certainty through the pre disclosure of information prior to settlement to eliminate failures and through atomic settlement that provides pass/fail processing across all intermediaries to avoid settlement like risk network members can also source liquidity through our product X rapid which provides access to an on-demand pool of liquidity through digital assets X rapid provides the ability to lower liquidity costs by being able to source liquidity on demand and reduce the amount of nostris required to make global payments for network users again these are corporates SMEs small banks and other payment providers they can use our product X via which is a standardized API based interface to originate payments through their banking partner through the standard interface of X via network users can benefit from all the capabilities that ripple Net brings they can access across networks globally they can send payments on demand in real time they can attach rich data like invoices to any payment and they can gain complete visibility into payment status and delivery timing so let’s recap the products and the problems they’re built to solve X Current is for banks and payment providers looking to process payments more efficiently and with certainty overcoming today’s four percent failure rate for Global Payments X rapid is for payment providers and banks looking to source liquidity on-demand through digital assets freeing up the five trillion dollars in trapped global liquidity and X via is for corporates SMEs small banks and other payment providers looking for one standard interface to send global payments avoiding the hundreds of bespoke integrations to different payment networks ripple net is solving the inefficiencies of today’s inefficient payments networks it’s standardized the technology api’s rules and governance are consistent across the network it’s fast the technology provides real-time settlement and bi-directional messaging it’s certain atomic pass/fail processing eliminates payment failures and it’s low cost high STP rates and flexible liquidity provisioning lowers processing costs ripple net is the first step towards bringing the internet of value to life through one frictionless experience to send money globally to learn more please contact us at ripple com [Music]

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