Ripple's Chief Cryptographer David Deaton Testifies Before Congress

It's a simple, fashionable way to a massive problem. We're now no longer speaking approximately a small problem -- we are speaking approximately one which impacts hundreds of thousands of people.

What we are doing is taking the first-class of all worlds: We've were given the velocity and protection of blockchain technology, however we have got additionally were given all of the advantages and capabilities of conventional banking.

Deaton stated that XRP Ledger's use case changed into in keeping with what banks had been looking to do with R3's Corda system, however that XRP Ledger changed into already built.

To ensure that his customer's cash changed into safe, Deaton stated he could have 24/7 manage over each fee transaction and could best launch price range as soon as it have been proven with the aid of using an impartial auditor.