#29J Support the Show 7 Days a Week 9PM Free Speech Lives
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LINK to ‘LIVE’ broadcast of Subcommittee Hearing on Digital Assets: https://youtu.be/XLKGOdpJ10c?t=1181
The world is undergoing a massive financial transformation, driven by the need for faster, cheaper, and more efficient transactions. The traditional financial system, built on outdated infrastructure, struggles to keep up with the demands of a globalized digital economy. This is where XRP and Ripple come in, pioneering what is often referred to as the Internet of Value (IoV).
https://x.com/genAbilsav/thread/1889059532632170571
How XRP Powers the Internet of Value XRP is at the core of this transformation. Unlike traditional banking systems that rely on multiple intermediaries and legacy systems, XRP enables near-instant cross-border payments, with settlement times of 3–5 seconds and transaction fees that are fractions of a cent. 1. Instant and Low-Cost Transactions Traditional banking systems like SWIFT take 2-5 days for international transfers, with high fees. XRP can settle transactions in seconds, regardless of the amount or destination. Transaction costs are nearly zero ($0.0002 per transaction), making it ideal for microtransactions and high-volume remittances. 2. Bridge Currency for Global Payments XRP functions as a bridge currency, allowing financial institutions to convert one fiat currency into XRP and then into another currency. This removes the need for nostro/vostro accounts, which hold billions of dollars in pre-funded liquidity around the world. For example, a bank in Japan wants to send $1M to a bank in Brazil: Instead of converting JPY to BRL through multiple intermediaries, incurring high fees and delays, The bank converts JPY to XRP, sends XRP instantly, and the receiving bank converts XRP to BRL. This process eliminates middlemen and settlement risks while reducing costs. 3. Scalability and Sustainability XRP can handle 1,500 transactions per second (TPS), far superior to Bitcoin’s 7 TPS and Ethereum’s 30 TPS. It is energy-efficient, consuming less than 0.0079 kWh per transaction, compared to Bitcoin’s energy-intensive proof-of-work system. The XRP Ledger (XRPL) has been running for over a decade with zero downtime, making it one of the most reliable networks.
Real-World Adoption: XRP in Action Banks and Financial Institutions RippleNet, powered by XRP, is already being used by major financial institutions such as: Santander Bank of America Tranglo Standard Chartered SBI Holdings These institutions use Ripple’s On-Demand Liquidity (ODL) to move money without pre-funding, reducing costs and increasing transaction speed.
gen A @genAbilsav·What is the Internet of Value (IoV)? The Internet of Value is a concept where money, assets, and value can be transferred as easily and quickly as information flows over the internet today. Just as the internet revolutionized communication, the IoV is set to revolutionize finance. Today, sending an email across the world takes seconds, yet sending money internationally can take days and incur high fees. The IoV envisions a world where cross-border payments settle instantly, without intermediaries, enabling a frictionless financial ecosystem.
https://samarakoon-gayan.medium.com/internet-of-value-736aed72a2bc
