Unlike public blockchains that are distributed and (ideally) not controlled by any single actor, Ripple is built specifically to bring the benefits of blockchain technology to banks.
So what benefits could a bank gain from using this kind of technology?
- Transact Directly
- Realtime vs. days
- Trace funds
- Minimize Costs
Although many in the public ledger community see banking as their direct opponent, it's important not to ignore private blockchain innovations, especially as the banking sector has the funds to drive development in this area and the relationships to onramp adoption.
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