Transcript
Math-Based Currency (MBC):Weaving the Value Web
AU MBC
What Is Math-based Currencya currency without a counterparty
• can’t be debased
an open-source payments protocol• moves value without a central operator
Digital currency is just the beginning…
The World Needs an ‘Internet For Value’
Information Exchange Value Exchange“world is flat” “world is curved”
What Is Ripple?
Ripple Is a Protocol for Moving Value• a distributed payments protocol• a new currency - ripples (XRP)• the world’s first distributed currency
exchange
HTTP: the information web :: RTXP: Ripple: the value web
Benefits as a Payment Protocol
Any Currency FinalGlobal Fast Free
Wire transfers cost $15+ vs. $0.00003 on Ripple Protocol.
ACH settles in 3+ days vs. 5 seconds on Ripple.
Confirmation in a Decentralized System• Primary focus: a new currency• Average 10 minute confirmations• Needs to reimburse miners for
high energy consumption
Mining Method (Bitcoin)• Primary focus: payments in any currency• Average 5 second confirmations• Doesn’t require mining
Consensus Method (Ripple)
How Does the Ripple Network Work?
Some text goes here
Four Types of Users
Basic Users Merchants Market Makers
Gateways
Some text goes here
GatewaysCash 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
Some text goes here
Transaction Map
Some text goes here
Transactions in Any Currency?
Some text goes here
Too Many PairsOf Currencies
XRP Has No Counterparty
Some text goes here
XRP Connects People
Some text goes here
XRP Connects
If a market exists between a currency pair, people can exchange value directly.
Currencies
Who Is Ripple Labs?
40Employees
$6.5MVenture financing
2012Founding
Company Overview
Summary
• MBC technology is actually more important as a payments protocol than as a digital currency
• Ripple is the world’s first decentralized value exchange: it can hold anything of value and settles instantly.
• We’re building a value web to connect financial institutions and services with people globally.
top related