Viral Naik Ripple viral@ripple.com About Ripple Founded in 2012 - - PowerPoint PPT Presentation

Viral Naik

Ripple – viral@ripple.com

About Ripple

Founded in 2012 300 employees in San Francisco, London, Mumbai, Singapore, New York, Tokyo, Dubai, Sao Paulo Provides enterprise blockchain-based solutions focused on cross-border payments

The Internet of Value

Blockchain and Interledger

Global Financial Transaction Trends

Cross-border trade between sellers in +100 countries Sending orders to 185 countries 1 billion items shipped in 2015

The Internet is connecting people & things

Internet of Things

50 Billion Connected Devices by 2020 Explosive growth in micropayments

2015 2010

12B

2020

15B 50B

Source: DHL and Cisco Internet of Things Trend Report, 2015; Cisco Internet of Things White Paper 2011

Trends Demand Infrastructure to Support

Huge transaction volumes immediate, international transactions minuscule unit cost zero tolerance for delays or failures

But Correspondent Banking Was Designed for High Value or Batch Payments

Each Leg of Settlement Risk Delays Payments

Introducing the Blockchain Revolutionizes how transactions are recorded

But We Can’t Put the World onto a Blockchain

Interledger: Beyond Blockchain

ACH Blockchain SEPA VISA

ACH Blockchain SEPA VISA

Reduced cost

• f liquidity and
• perations

New cost structure makes low value payments profitable Service payments to exotic corridors without being in those countries Greater transparency and control for compliance

Once Adopted, Many Uses

Lending Capital Markets Securities Technologies Trade Finance

The Internet of Value is a game changer.

Use Cases

Micro Payments – Pay as you use

Pain Point: Tracking usage of services, billing, payment and reconciliation. Infrequent Payments – Weekly, monthly…. What would be ideal? Why wait for an invoice to receive payment. Pay as you go, number of small payments e.g. advertising revenue – pay per click, get wages paid for every hour of work, Minicab / Uber drivers… How could it be done? Digital assets, wallets, inter-ledger, smart contracts

Real-time Liquidity Optimisation

Pain Point: Financial Institutions (Money Service Providers, Banks) need to hold large amount of balances with correspondents in various geographies to make payments. High level of buffers which is costly to ensure immediate payments. What would be ideal? Money with correspondents as required to make payments in immediate window. Very small buffers, free up funds. How could it be done? AI for prediction, blockchain for visibility, bridge currency (digital assets) for just in time funding. A sample dataset of typical balances/transactions will be provided with ideation.

Identity & Compliance

Pain Point: Beneficiary / Remitter information varies by country. Compliance verification require additional

• details. Fraud potential to insert different account/wallet numbers. Payments getting stuck,

requiring additional information, going to wrong place or getting returned after a few days. What would be ideal? One simple alias required to make payments that is immediately verifiable and permissioned retrieval of additional details for compliance check. How could it be done? Blockchain, QR codes, permissioned protocols.

Interoperability

Pain Point: Too many networks and networks don’t talk to each other! Can we send from Ethereum to XRP? Card to mobile payments or any wallet to any wallet? What would be ideal? Ability to send money or any digital asset from a wallet in the world to any other wallet in the world. How could it be done? Interledger, bridging networks/protocols

Decentralised Finance

• Decentralised finance is a

broad area with a number of

• pportunities.
• Reduce intermediaries by

use of decentralised networks and protocols.

• Reinventing financial

services as automated software products with programmed business logic

Source: Fintech Collective

Landscape

Source: Fintech Collective

Create Your Own Use Case!

• Find an area in the financial services world that has issues and

decentralise it!

• Build out your own use case, and get support from subject matter

experts.

Other Resources

xpring.io

XRP Takes 3 Seconds Per Transaction Transactions Per Second

$0.42 $0.06

XRP Has The Lowest Cost Per Transaction

XRP: The Digital Asset for Payments

Interledger Project

Open Protocol Community Group @ W3C 275 Contributors

Banks Central banks Payments companies Tech giants Consulting companies Blockchain companies

Codius: Scalable Smart Contracts Built on Interledger

Active Hosts

375

Running Contracts

206

Total Memory

5.9 TB