I have Ripple, but It has been around since 2012 and is working with the XRP Ledger to advance the global payments journey. At the same time, the company aims to be the go-to enterprise infrastructure provider, company president Monica Long said on TechCrunch's “Chain Reaction” podcast.
Unlike the Ripple network and protocol, Long said the XRP ledger is a decentralized public ledger with an open source code base that anyone can contribute to and use. And thousands of developers around the world are doing so, she added.
“The original creators of the ledger thought this could become a modern system for moving value as fast and free as email,” Long said. “So instead of the post office vs. email analogy, we compared today's banking systems to what can be achieved on blockchain using decentralized exchanges.”
When the ledger was first introduced in 2012, Long said he envisioned it as a version of Bitcoin with faster confirmation times in a lower-cost system. “Developers saw blockchain and public ledgers as a great way to express, move, and trade value around the world.”
Blockchains are transparent by default through on-chain data that shows the course of a transaction from beginning to end.
"Forex is quite concentrated in terms of players who have enough capital to actually provide liquidity for trading," Long said. “Therefore, increased concentration leads to a lack of price competitiveness.”