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Introduction

As financial service stakeholders finally get to grips with blockchain technology and what it means for the future of the sector, Ripple Labs, with the Ripple protocol, is emerging as a critical player in the development of the space.

Highlights

  • Since the launch of Bitcoin in 2009, there has been much speculation about the long-term implications of cryptocurrencies for the financial services space. Many have denounced Bitcoin as being inherently flawed and doomed to failure on economic and philosophical (but less so, technical) grounds. However, attention has moved beyond Bitcoin as a currency to how Bitcoin’s underlying blockchain technology can be used in the broader financial service space. A key development has been the growth of the Ripple protocol, a decentralized ledger network distinct from the Bitcoin blockchain, intended for the financial services space.
  • The Ripple protocol is similar to the Bitcoin blockchain, but it does not use mining or proof-of-work parameters. It instead operates using a decentralized open consensus ledger model, which is faster and has significantly lower energy consumption and operating costs compared to Bitcoin mining.

Features and Benefits

  • Understand how blockchain technology is being integrated into financial services.
  • Learn how distributed blockchain technology can be used beyond cryptocurrencies.

Key questions answered

  • Why should I put Ripple Labs on my radar?
  • What potential does Ripple have in the long term? How does it differ from Bitcoin?

Table of contents

Summary

  • Catalyst
  • Key messages
  • Ovum view

Recommendations for enterprises

  • Why put Ripple Labs on your radar?

Highlights

  • Background
  • Current position

Data sheet

  • Key facts

Appendix

  • On the Radar
  • Further reading
  • Author

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