Japanese banking consortium, according to unconfirmed reports, implemented accounting system provided by the company Ripple, at the national level. Media reported that the shareholders of the Ripple, perhaps teamed up with a Japanese consortium to integrate the blockchain Ripple in a transactional network of 47 Japanese major banks.
Know exactly what SBI Ripple Asia recently introduced three new schemes to optimize the use of Ripple in the public domain banking service provided Interpleger Protocol (ILP) Ripple. We will remind, at the end of last year, Ripple became the second largest cryptocurrency after Japan and South Korea agreed to use the Ripple in the pilot for their cross-border transactions.
Also at the end of last year the consortium announced that it had made progress and had a finished version RippleNet to which banks could be easily integrated. At that time Ripple and the consortium said that work together to create a single platform for domestic and cross-border payments, provided by the decision Ripple to calculate in real time xCurrent.
“2017 was the year of digital assets,” commented brad Garlinghouse, Executive Director of Ripple at a time. “Ripple is clearly surpassed all other digital assets, the reason is that the market realized that XRP is a high performance payment engine that solves real problems for real customers with real money”.
According to experts, demonstration of efficiency of development Ripple is now forming in the Pacific a supportive environment, allows you to enlist the sympathies of investors.
What is the Protocol Interledger (ILP)?
Interledger Protocol provides routing of payments to different accounts digital assets, while senders and receivers are protected from intermediate failures. Safe multiple payments and automatic routing allow you to use a global network of networks for different types of values that can connect any sender to any recipient. ILP allows you to make transaction for 0,025 seconds, which can be very appealing to some banks.
We will remind, South Korean Woori Bank has completed the test cross-border money transfers using the Ripple ILP. Also, the media are receiving reports that more than 60 banks in the Pacific became interested in the Ripple network that may heated rumors about the involvement of the consortium.
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