Today has been a very exciting day for RIPPLE - a very exciting day for cryptocurrencies in general.
As we are slowly making our way towards mass adoption, more and more companies are realizing the enormous benefits of blockchain technology, and are finally implementing them into their own businesses.
American Express has just announced that they will be cooperating with Ripple to implement Blockchain payments!
A finance giant like Amex cooperating with a cryptocurrency company marks a huge milestone in the adoption of blockchain technology.
Amex and Blockchain Services
American Express will be cooperating with Ripple to implement real-time payment systems.
A press release from Ripple states:
American Express is joining Ripple’s blockchain network to provide real-time, business-to-business global payments that will ultimately enhance their customers’ experience.
At first, American Express will team up with Santander UK to enable immediate payments between the U.S. and the U.K..
The U.K. is in need for a commercial global payment infrastructure - and this partnership could satisfy that.
The U.S. and the U.K. are each others largest trading partners in the field of global payments, which is what makes this cooperation especially important and efficient.
Benefits of Blockchain for Amex
Customers of FXIP will experience a vast improvement when sending money globally, transactions can be completed within fractions of a second.
Due to the cooperation with Ripple, all transactions will be immediately visible on the Blockchain.
Apart from transaction speed, the blockchain-based payment system also provides very high levels of security, which American Express holds as their standard.
Greg Keeley, executive vice president of global corporate payments at American Express, has stated that:
“We’ve already seen evidence that blockchain technology is playing a transformational role in the way customers are served. Not only does this partnership with Ripple help decrease the time it takes for international transactions to be processed, it can make our transactions more effective for our customers."
RippleNet
American Express is joining RippleNet, a "decentralized global network of banks and payment providers using Ripple’s distributed financial technology".
RippleNet is already supported by large businesses like Credit Agricole, Airwallex, Cuallix, and more.
Key benefits of RippleNet:
- New Revenue Opportunities
- Lower Total Costs
- Standardization
- Streamlined Legal Framework
Why Join RippleNet?
All of today’s pain points from the current global payments system – delays, limited transparency and high costs – stem from the lack of a single, global network.
RippleNet solves these pain points with a decentralized network of independent banks and payment providers – that connect through Ripple’s technology and standardized ruleset to send realtime, traceable payments around the world.
Ripple Price Development
After the announcement emerged today (November 16), the Ripple price has spiked to a price of $0.27 before dropping back down to $0.22.
Obviously, these are huge news for Ripple so it's no surprise to see that interest in the cryptocurrency increased!
What do you think about these news and how will it affect the Ripple price in the future?
Take a look at the charts from November 15 - November 16:
© Sirwinchester
Ripple has been sitting around 20 cents so it isa good thing it is moving up. But there is a lot of ripple as well that could hit the marketcap is case the price jumps too high.
Even Bernanke was praising Ripple recently, which is precisely why I'm staying away from this coin. It's a centrally controlled payment network and bankers love this kind of a system!
For someone who isn't well versed in other cryptocurrencies, why would AMEX choose ripple? (Genuinely looking for an answer, not trolling)
From What I understand Ripple enables transactions ONLY for banks. So the ripple system is a good choice for Amex to move funds around the world.
Ah ok that makes a lot of sense then.
thank you for a very good article :)
Big day for ripple. Hope for more to come and a big boost in ripple prices.
Exactly! This is a huge step for Ripple and for Crypto in general
Wow that is great news, especially for me since I bought some xrp 2 weeks ago!😎
Big news
Yes! It's a big day!
Nice to read ,thank you for info @sirwinchester
Re-steemed and upvote
Thanks for this information
Great news for Ripple and the whole crypto world. I think news like this will start to come out every week! Many banks are experimenting with blockchain technology, and ripple specifically. Excited for what the future has to hold, thanks for sharing!
Exactly, we are on the way to mass adoption and news like this will become more regular hopefully!
Great news! Resteeming. Thanks for this @sirwinchester
You're welcome, glad you enjoyed it!
Interesting information @sirwinchester, thanks for sharing!
These are great news for the crypto world! 🎉
Oh yes, I think so too! 👍😎
Are you investing in Ripple, or have you already invested in it?
Oh wow that's a huge step for RIPPLE and so for cryptocurrencies generally. Excited how it's going on!
Yes these news are super exciting! I'm looking forward to watching this business relationship develop
This is HUGE for the space, expect that price to go up... If only temporarily, but ultimately, it will help to normalize crypto to a wider demographic and to make it more liquid and consequently, more widely accepted (& consequently more valuable)...
Interesting article.
Visit CoinCheckup.com | SteemIT - Daily Technical Analysis
Good
Its a real news and I also do believe that ripple will perform better in coming days .
That's some great news for Ripple and it's holders but also good news for cryptos in general. I am a holder of Ripple and hope that this will push it's price. Ripple is a centrally controlled payment network and not like most cryptos decentralized which is why I don't like it so much but for sure it will make me some money and that's why I bought it.
According to Ripple: Ripple for Financial Institutions Financial institutions, network operators and regulators play critical roles scaling and providing stability to payment systems. Ripple enhances the existing payment stack, offering real-time settlement infrastructure at the foundation."
Given that financial institutions, network operators and especially "regulators" are part of this equation then in this instance of "Financial Institutions" when considering the totality of human involvement it perhaps could not be considered decentralized, which in the context described makes it centralized.
Thanks for this information and have a nice day and a great weekend.
LOVE&LIGHT
War ein schöner Gewinn mitzunehmen ;-)
I truly think 2018 is going to be a fantastic year for Ripple. Lots of people hate on the company because they don't understand that it is a long-term hold, and when news like an amex partnership comes into play, the day traders come crawling back to buy and it causes it to pump and dump. Then you hear the jokers calling it a scam coin. Ripple is not for wanna be traders who want to be over-night-millionaires!!! It's for people that believe in the technology and see it as a long term hold! Don't get it confused people! It is a great opportunity. Great post, thanks for this!
We talk about Ripple’s blockchain network and payment system lunch more grow up then yesterday.... I am very impressive.
This post has been ranked within the top 50 most undervalued posts in the first half of Nov 17. We estimate that this post is undervalued by $8.71 as compared to a scenario in which every voter had an equal say.
See the full rankings and details in The Daily Tribune: Nov 17 - Part I. You can also read about some of our methodology, data analysis and technical details in our initial post.
If you are the author and would prefer not to receive these comments, simply reply "Stop" to this comment.
Great News bro
Excellent, when do you think the price will go up?