Global Payments Powered by Ripples XRP: Blockchain Software R3

Back in 2016 Corda, an open source enterprise product, was announced by the blockchain supported software developer R3. Now, it received an additional application namedCorda Settlerwhich targets to deliver and offer most services which business would ask to engage blockchain technology. Also, thesettler is meant to bring together and work as a translator for wide range of fiat assets and virtual coins.

Gendal Brown CTO of R3 added:

The deployment of the Corda Settler and its support for XRP as the first settlement mechanism is an important step in showing how the powerful ecosystems cultivated by two of the of the worlds most influential crypto and blockchain communities can work together.

While the Settler will be open to all forms of crypto and traditional assets, this demonstration with XRP is the next logical step in showing how widespread acceptance and use of digital assets to transfer value and make payments can be achieved.

As quoted above, the system uses XRP as a basecurrency. When a needed transaction is initiated on the network, one party can request the settlement [which can be instant] while the second is notified for the request.

With the aim to reach global-scale of app utilization, the firm behind the settlement product is already in corporation with over 200 firms in various industries.

The Corda platform has showcased its potential to handle different kinds and features offered by its applications in many cases, and the Corda Settler will function on the same manner.

The Corda Settler is an open source CorDapp that allows payment obligations arising on the Corda Network to be settled via any parallel rail supporting cryptocurrencies or other crypto assets, and any traditional rail capable of providing cryptographic proof of settlement. Uniquely, the Corda Settler will verify that the beneficiarys account was credited with the expected payment, automatically updating the Corda ledger. In the next phase of development, the Settler will support domestic deferred net settlement and real-time gross settlement payments. Blog post.

The post Global Payments Powered by Ripples XRP: Blockchain Software R3 appeared first on Ethereum World News.

05.12.2018 / 16:50 91
Ripple: R3 Cordas New Settlement Layer Now Supports XRP Ripple: R3 Cordas New Settlement Layer
R3, the distributed ledger development company which introduced its first enterprise/open source product, Corda, in 2016, has released a new element
SBI Nears Launch Ripple Blockchain Payments App MoneyTap in Japan SBI Nears Launch Ripple Blockchain
Japanese financial services group SBI Holdings will launch its consumer payments application MoneyTap, on both Android and iOS, using Ripples
TransferGo Launches Instant Payments to India with Ripple Blockchain Tech TransferGo Launches Instant Payments to
Payments platform TransferGo has launched a real-time payments corridor to India, the worlds biggest remittance receiver, using Ripples blockchain
Wanchain (WAN) Joins Worlds Largest Open Source Blockchain Initiative Wanchain (WAN) Joins Worlds Largest
The beautiful performance of cryptocurrency does not lie in pump and dump price increments, it has to do more with how it is changing the status quo.
British FX Firm Currencies Direct Pilots Ripple Tech British FX Firm Currencies Direct
A foreign exchange (FX) brokerage based in the UK has announced that it successfully tested distributed ledger startup Ripple's xRapid product, which
Beyond Banking: R3 Is Expanding Its Vision for Global Blockchain Beyond Banking: R3 Is Expanding Its
R3 may have started as a consortium of banks looking to use blockchain technology, but it's broadening its ambitions. Now a startup whose staff
Comments (0)
Add a comment
Comment on