Ripple goes further, gaining more influence in the world of financial technology. Ripple projects are gaining utmost popularity. Various structures add Ripple ideas to their platforms. For example, sports betting giant Luckbox will now accept deposits in Ripple XRP, deciding to do so at the request of customers, as well as to keep pace with the times. Other points regarding Ripple technology are also known. So, in the proposal for the US bill on payment insurance, Ripple XRP is mentioned, and a social network is being prepared on XRP Ledger.
Ripple goes further: XRP in bill insurance payment
Ripple XRP is mentioned in the proposal for the US bill on payment insurance, as the latest development in the field of payment. The need to improve remittances has gradually raised awareness among US regulators of innovation in this area. A proposal for a bill mentioning the Ripple XRP will be discussed until January 2021.
Information on Ripple XRP is on page 28. It indicates that the continued growth of non-bank money transfer providers and their further expansion through partnerships and relations with banks and credit unions, allows such organizations to connect to closed network payment systems. These network payment systems transfer non-bank payments developed by these providers.
In particular, Ripple, which offers a payment messaging platform to support cross-border money transfers, as well as its own digital asset XRP, which can be used to adequately resolve problems with transfers, is also important in this process.
Social Network on XRP Ledger
According to NewsLogical, a decentralized social network based on Ripple’s XRP Ledger is currently in preparation. It will be a platform called Xchange. While the social network from Ripple is in development status. It is known that after the launch, the platform based on the Ripple XRP Ledger is going to become a defender of freedom of speech and personality. Other details regarding the Ripple social network are currently not available, and there is no data on the exact dates when it can start working.