Ripple - Bitcoin 2014

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Ripple - Bitcoin 2014

  1. 1. Virtual Currency Is Just the Beginning
  2. 2. The World Needs a Transaction Web Protocol Information Exchange Value Exchange “world is flat” “world is curved”
  3. 3. Confirmation in a Decentralized System Mining Method (Bitcoin) • Reward first „miner‟ to solve a math problem that is a confirmation • Needs powerful computers, energy • Average 10 minute confirmations • Primary focus: currency Consensus Method (Ripple) • Current state of global ledger • Transactions that are valid to majority of servers are updated to ledger • 5-10 second confirmations • Primary focus: payments in any currency
  4. 4. Ripple Is a Protocol Like SMTP, a Protocol for Moving Money • a distributed payments protocol • a new currency - ripples (XRP) • the world‟s first distributed currency exchange
  5. 5. Benefits as a Payment Protocol Any Currency Global Final Fast Transactions settle in 3+ business days via ACH. Transactions settle in 5 seconds on Ripple. Free Wire transfers cost $15+. Money transfers cost $0.00003 + cost of existing KYC, compliance.
  6. 6. Distributed Exchange
  7. 7. Four Types of Users Basic Users Merchants Market Makers Gateways
  8. 8. Gateways Cash in, Cash out    gateways issue local currency balances on Ripple balances can be transferred across the ledger without intermediaries gateways earn fees as they wish
  9. 9. Transaction Map
  10. 10. Transactions in Any Currency?
  11. 11. Too Many Pairs Of Currencies
  12. 12. XRP Has No Counterparty
  13. 13. XRP Connects People
  14. 14. XRP Connects Currencies If a market exists between a currency pair, people can exchange value directly.
  15. 15. Company Overview 2012 Founding $6.5M Venture financing 40 Employees

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