Ripple Gets Another Win As Bank of America Patent Acknowledges the Use of Ripple technology

Ripple fans are having something to smile about today as a Bank of America patent was observed to exhibit the use of Ripple’s Digital Ledger Technology (DLT) technology. The patent was termed “Real-time net settlement by distributed ledger system”, and is a non-utility patent. In ripple News today, according to observers, the patent references Ripple’s Digital Ledger Technology at different instances.

Ripple Latest Update – XRP not Cited in the Supporting Documents – Ripple News Today

In ripple latest update, there are enough references to show that the Bank of America used Ripple’s Digital Ledger Technology, the Bank of America did not cite XRP in their abstract or documentation at any instance. The patent documentation cited the application of “Nostro accounts”, also inferring that they are expensive. “Need for flexible and cost-effective accounting treatment and system for implementing the same are needed”. This quote indicates that the Bank of America is trying their hands in something new –inspired by blockchain technology. This patent policy can effectively be portrayed as “Ripple without XRP”. Considering that this method has been patented, one can rightly assume that this might see the use of Ripple technology by other Banks – promoting the coin’s strength and value.

Blockchain technology possesses a few applications that when utilized, might help to promote banking in the large-scale. For example, the use of multi-signature keys. With the application of blockchain technology, Banks will have their independent source of records from other Banks, especially in the case of “Nostro/Vostro” account system. It is quite understood that the Bank of America has been studying the blockchain industry for a long time. Although, in XRP latest update, they haven’t issued a formal statement that they did employ Ripple’s Digital Ledger Technology in their latest patent.

Ripple price prediction – There is optimism in Ripple prices in the coming days – XRP price prediction – Ripple news update

Since March this year, XRP prices have been fluctuating. XRP price did not perform greatly in March. Between May 12 and May 16th, XRP price went from $0.3404 to $0.4722 and since then it has been floating around the $0.4 mark. XRP traded at $0.425764 on the 3rd of June and closed at $0.402372 on the 5th of June. XRP has shown its resilience on many occasions and has the potential to perform better than they have had before. It had pledged to be more accurate in sales and reporting volume.

XRP (XRP) Price Today – XRP / USD [ccpw id=”10545″]

In XRP price predictions, XRP might trade at 8 to 10 Dollars in the near future, according to Ripple coin news — the second-largest news site based on traffic. This is due to their increasing partnership with major global industries as well as the constant improvement in ripple technologies. In Ripple price predictions, the coming years might be a period of bloom for Ripple even though it has experienced some rough times.

Ufuoma Ogono is a cryptocurrency writer with over 3 years experience in the cryptocurrency industry. She dedicates her time to sharing valuable information to members of the cryptocurrency community.

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