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RE: Banks Looking To Make Their Own Cryptocurrency... Is Ripple In Trouble?

in #news8 years ago (edited)

But axis bank and other banks have already made an alliance with ripple I guess that's not an issue to be worried on the main issue is that Ripple network can't move actual fiat currencies, balances in Ripple act like bank balances. If the bank somehow defaults on its obligation, people won't actually have the money they thought they had. This is not a big problem if you're just using Ripple to make payments, but it's a weakness if you're using Ripple as a store of value for fiat currencies. Your money is only as safe as the "bank" that holds it for you.