- RippleNet Launches Cloud Solution to Revolutionize How Cross-border Transactions Work
- The new solution will Accelerate the of Ripple’s Technologies in Financial institutions
Ripple News Today – Ripple has always made its ultimate goal known; changing the global financial industry by providing cutting edge technologies that will make or easier, cheaper, and faster for people to send money from point A to point B. Recently, the blockchain company released a cloud solution aimed at significantly increasing the efficiency of its solutions as they are being integrated into financial institutions. With this new solution, it will be easier for RippleNet clients to integrate the company’s On-Demand Liquidity solution.
Ripple News Today – What you Need To Know About Ripple’s Cloud Technology
In an official blog post yesterday, Ripple announced that it had released a new cloud solution for RippleNet clients. In the blog post, Ripple noted that the traditional financial system is still lagging not just in the adoption of blockchain technology but in the adoption of cloud technologies as well. With their new cloud solution, they will be able to launch products that scale instantly and meet the real-time demands of clients. Apart from increasing the speed and efficiency, cloud solutions also happen to be cheaper. This is because it eliminates most of the costs attached to having an on-site infrastructure. Things like the cost of building a base, employing personnel, and spending millions on hardware have been reduced significantly and eliminated in some cases.
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With the RippleNet cloud, financial institutions will reap the full benefits of partnering with Ripple while putting in minimal effort. RippleNet cloud is also extremely flexible. Rather than connecting to several networks at the same time. RippleNet clients will be able to perform transactions on a single platform known as Ripple Payment Object (RPO). There will be greater standardization and less friction in the integration of this technology by RippleNet customers. Compared to Ripple’s previous on-site solution, the RippleNet cloud allows clients to go live five weeks faster.
The blog post also stated that the RippleNet cloud is going to allow partner financial institutions to add alternative settlement through their ODL solution. Connections within the RippleNet network will be established and maintained through a single API. Ripple’s already existing staff will be in charge of monitoring and providing support to these RippleNet clients. So, they will not need to hire a new team just because they want to ingrate Ripple’s solutions. Ripple hopes that their new cloud solution will invite even more people to join RippleNet and enjoy all the benefits of blockchain technology in the financial sector.