Solutions for International Payments Ripple
Critical Thinking Questions:
Ripple’s payment protocol provides for quick and accurate processes of international payments making it far cheaper and more efficient than the traditional methods used by SWIFT.
Ripple is the perfect platform in the digital currency and international transaction space for underserved populations because of its low cost nature.
To ensure its widespread use and success in the financial ecosystem, Ripple would need to make sure it remains transparent and low cost, it would need to convince the traditional banks to become MORE transparent, as they only divulge information required by regulations, sometimes to protect privacy, but many times to cover up their legal, but immoral activities, and Ripple would need to be easily accessed by all, no matter their demographic, income, or location.
