Just read this today:
"Ripple, a startup building a protocol for facilitating payments between banks, received a 55 mUSD series B funding, taking them up to a total of 93 mUSD. Ripple is now one of the most well-funded companies in the industry together with companies such as R3, and they are trying to improve centralised value transfer solutions using blockchain technology.
We see a strong continuation of the long-term trend that banks and financial institutions are moving towards building their blockchains instead of integrating with already existing and established ones like bitcoin. This trend, from a short-term perspective, might be suppressing the price of bitcoin since funding, research and media exposure are aimed at more traditional value transfer solutions.
However, since the innovation that bitcoin and blockchain technology allow for is open and borderless value transfer, we believe that many attempts to use this technology to improve centralised and closed solution will have little to no effect. Due to the allowance of permissionless innovation in an open system such as bitcoin, closed systems will not be able to adapt to the speed of change.
In short, focusing on the wrong thing will lead to a loss of market share, so on a long-term perspective, we believe that this trend will have a positive impact on bitcoin."
Your thoughts on Ripple?
The future is definitely CryptoCurrencies and these will challenge FIAT Currencies in a battle for strength. Ripple is no different from them all. They will all outpace FIAT. The big one is yet to come..!! That is the new Global DERIVATIVE DIGITAL CURRENCY that will be the daddy of the Digital Currencies and will become the new Global Reserve Currency. 100% guaranteed that this will happen..!! Cheers. Stephen