Ripple launches distributed ledger initiative to help financial institutions explore blockchain

21 December 2017

Ripple Ripple, a real-time gross settlement system, currency exchange and remittance network, announced the introduction of a new ecosystem based on distributed ledger environment for providing technologies to central banks and market infrastructures for exploring the blockchain and designing their own solutions.

As mainstream audiences is mainly focused on Bitcoin in view of its record-high values surging every week to new peaks, Ripple decided to shift its interest into the area of distributed ledger to allow regulators and financial institutions to better understand the blockchain environment under its new project titled Infrastructure Innovation Initiative to be led by Dilip Rao.

Rao noted in the announcement that the top priority for him is to pilot the interoperability between existing payment systems and implementation of the DLT for internal clearing and settlements, as well as innovative new ways to use xCurrent, Ripple’s existing enterprise software.

The statement further added that the new initiative comes within the framework of its efforts to improve the “Internet of Things” and follows Ripple’s partnerships with other parties over the financial services projects.

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