XRP Utility
The XRPL can be used to host a number of projects. It can be used for micropayments across the globe, you can pair it with other tokens or make a stablecoin on the XRPL for exchange, or it could be used to facilitate the exchange of NFTs.
Micropayments
Cryptocurrency Wallets
Exchanges
Stablecoins
DeFi
Central Bank Digital Currencies
NFTs
Centralized databases hinder transparency and settlement times.
Banking services seem modern, but their core model for settlement is slow and involves unnecessary systemic risk. Without synchronized databases, the ledgers take time to settle because they must be independently verified by a trusted 3rd party (a clearing house) between both ledgers.
As banks modernize, they can use blockchains to automate their transaction verifications on decentralized network ledgers -reducing the need for a 3rd party clearing house will allow 24/7 automated payment and settlement.
Snapshot of XRP ledger
Witness the ledger live: https://livenet.xrpl.org/
Explore the XRP ledger here: https://xrpcharts.ripple.com/#/graph
Correspondent Banking Model
Banks required to use their capital (Billions of Dollars) to pre-fund accounts around the world to make transactions seem "instant".
These pre-funded accounts provide "liquidity", as funds are needed on both ends.
Planes fly with pallets of dollars to move funds around the world for accountability.
On-Demand Liquidity using XRP
Banks link with exchanges and crowd source liquidity from XRP holders around the world in their local currencies
Banks can repurpose their capital for other business ventures instead of it needing to sit in accounts for remittances.
Email is exchanged between domains similar to how payments using blockchain can be exchanged between ledgers.
Believe it or not, in the early days of the internet emails couldn't be sent across domain until SMTP was adopted.
Interledger has a built in exchange server, the XRP ledger.
As long as the assets tokenized are interoperable with the XRP ledger protocol, they can be exchanged between each other like email; but for payments.
