From the Middle Eastern countries such as Qatar and United Arab Emirates to Asian nations such as Japan and Thailand; European nations such as United Kingdom and Spain to the American nations such as Argentina and the United States; Ripple has brought the world together through a seamless platform that is spurring globalization like never before.
Globalization has been made possible by technological inventions which have made business and interactions between nations and continents easier and faster. From the age of emails to today’s social media platforms, people now have the opportunity to interact and share ideas with anyone in the world regardless of the millions of miles between them.
Ripple is pushing globalization forward on the payments front through its platform which is fast, affordable and convenient. Ripple offers a suite of products which include xCurrent, xRapid and xVia; all which facilitate the smooth transfer of funds between individuals and institutions who had to wait for days for their payments in the past.
Different regions in the world have different products and services that they offer. China is known for its low production costs which have driven many global manufacturers to the Asian nation for manufacturing while India’s abundance of affordable labor continues to attract many businesses there. Brazil is the world’s leading coffee producer; Russia is a leading producer of oil and steel while Germany continues to be the source of some of the world’s most luxurious automobiles.
So diverse are the regions that trade between them is not a luxury but a necessity. With the booming international trade comes the pressing need for a payment and funds transfer platform that is secure, convenient, affordable and swift (pardon the pun). Traditional funds transfer methods have been in use for decades but have continued to be expensive, very slow and altogether inconvenient. This industry has been crying out for a savior for decades and Ripple heeded the calls.
Ripple allows a coffee producer in Kenya to get paid seconds after a consumer in Canada receives the coffee. The days when one had to wait for up to 5 days for his payments are now a thing of the past. With the transaction fees being reduced to a negligible amount, the coffee producer can earn what he rightfully deserves from the fruits of his labor.
The RippleNet platform has continued to sign on major world banks from all corners of the world. This is also a step in the right direction for globalization. With a common corridor that has banks from Brazil, Canada, Thailand, UAE, Japan, United Kingdom, Spain, United States and many more countries, the world is coming closer together through one of the most vital industries there is; the financial services industry. As Ripple continues to enlist more banks, remittance firms and other financial institutions, the world will continue to become a global village that relies on a fast and affordable payment platform to facilitate inter-regional trade; the RippleNet platform.