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After understanding Ripple, let’s talk about the origin of the invention of Ripple. The reason why Ripple was invented is related to the shortcomings of the existing international payment system. The specific reasons are as follows.
Traditional international payments are inefficient
Including high handling fees, long transaction confirmation times, exchange rate fluctuations and other issues, international payments are inconvenient, expensive and slow.
demand growth
The advent of the era of globalization and digitalization has given rise to the need for efficient, economical, and fast cross-border payment and fund transfer solutions. The solution must meet the requirements of international payments, low cost, transparency and traceability.
Founder's Vision
The founder of Ripple hopes to invent a new type of digital asset and payment protocol that will enable global banks and financial institutions to directly conduct cross-border payments and fund transfers, improve efficiency, reduce costs, and solve the problems of the traditional international payment system.
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