Ripple Blockchain Payment from Canada to Germany Takes 20 Seconds
A collaboration between Canadian financial institution ATB Financial, German software multinational SAP, blockchain startup Ripple Labs and Geman bank ReiseBank AG has demonstrated the potential of blockchain technology, wherein an international payment took 20 seconds as opposed to several working days. German multinational software firm SAP has announced the results of an international cross-border payment using a SAP-developed cloud platform and payment engine while transacting on the Ripple blockchain network. A payment of CAD $1,000 was transferred successfully from Canadian financial....
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Instead of taking between two and six business days, the transfers was completed in 20 seconds. This is quite a significant gain in transaction time, and one of the clear examples of how powerful the blockchain is. Blockchain technology is finally transitioning from experiment to usability concept in the financial world. SAP, one of the largest networks in the industry, partnered with ATB Financial, Ripple Labs, and ReiseBank AG to send an international blockchain payment. Transferring funds from Canada to Germany was a breeze, and the cost was minimal compared to traditional means.....
SAP is venturing into blockchain technology applications. The German multinational company, a market leader in enterprise application software and a legend in the enterprise computing world, announced that it collaborated with digital fintech company Ripple and two banks, ATB Financial in Canada and ReiseBank in Germany, to demonstrate how banks can improve the efficiency of cross-border payments by using blockchain technology. Working with a team at ATB Financial, SAP and Ripple designed and built a proof-of-concept prototype based on blockchain technology. The prototype was used to send....
Canadian bank ATB Financial has collaborated with Ripple and tech firm SAP to send the first international interbank blockchain payment to Germany’s ReiseBank. ATB: Blockchain Success ‘Encouraging To See’. The 1,000 CAD transaction, which was completed in 20 seconds on a platform built in 9 days, represents a first in an industry where more and more....
Ripple, a prominent provider of blockchain and cryptocurrency solutions, announced on Thursday the opening of a new office in Canada. In the face of the ongoing massive selloff and job cuts in the cryptocurrency market, the San Francisco-based crypto startup is still eyeing expansion, unfazed by the instability. Ripple plans to employ 50 engineers for […]
A recent analysis by a crypto market expert has reignited interest in XRP’s potential utility, especially in the context of Ripple capturing a portion of SWIFT’s global transaction volume. According to the expert, if Ripple secures just 14% of SWIFT’s market share, the implications for XRP’s supply and potential could be significant. XRP’s Potential If Ripple Takes On 14% Of SWIFT Market expert Crypto Eri has emphasized, through detailed mathematical calculations, the impact Ripple, capturing 14% of SWIFT’s total annual cross-border volume, could have on XRP’s supply and daily....