Ripple: gold transport showed the value of cryptocurrency

Ripple is once again at the center of the discussion about the speed of moving value: Brad Garlinghouse pointed to the decision of the Dutch central bank to transport 86 tons of gold from North America to the United Kingdom and called this story a clear example of the limitations of traditional finance.

• The central bank of the Netherlands moved 86 tons of gold reserves from North America to the United Kingdom to ensure more convenient access to them.
• Ripple CEO Brad Garlinghouse believes that such lengthy physical transfers highlight the weaknesses of the old financial system.
• In his opinion, cryptocurrency is able to transfer value across borders faster and cheaper.

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What Is Ripple and How Is It Different From XRP

Ripple is a company and payment platform that develops solutions for international value transfer. Its focus is on banks, payment providers, and other financial organizations that need fast cross-border settlements.

XRP is a cryptocurrency that can be used as an intermediary asset for transfers. XRP Ledger is a blockchain platform where such operations are recorded and confirmed. Therefore, Ripple, XRP, and XRP Ledger are not the same: Ripple develops commercial solutions, XRP acts as a digital asset, and XRP Ledger serves as the technical network for settlements.