How could organizations like Facebook benefit from partnering with Ripple?
Payments
Asked by Question Bot09/Jan/20141 answer
1 Answer
F
Faisal Khan
Answered 09/Jan/2014
For Facebook, Ripple can only serve as the underlying payment protocol and general ledger system. Implementing Ripple on Facebook would most likely imply person-to-person global payments (a huge huge disrupter if you ask me personally).
Ripple would ensure quick, effortless P2P transfer, whilst Facebook would most likely recommend Ripple's XRP as the base currency on the FB ecosystem. Whilst this does post problems with XRP being a currency, it does provide a common denominator for all those wanting to pay each other.
Alternative would be Ripple being used as the underlying protocol, and then Ripple Gateways that would offer buying/selling of Ripples for Transfer against their base currency (something that is doable, but would take a lot of effort).
It could be a marvelous partnership, but if you were to ask me, if Facebook were to go towards the route of crypto currencies and the Bitcoin protocol, they would most likely stick with Bitcoin. The only benefit that I can see Ripple providing is the underlying (improved) protocol as the message format that encapsulate all transactions.
Ripple would ensure quick, effortless P2P transfer, whilst Facebook would most likely recommend Ripple's XRP as the base currency on the FB ecosystem. Whilst this does post problems with XRP being a currency, it does provide a common denominator for all those wanting to pay each other.
Alternative would be Ripple being used as the underlying protocol, and then Ripple Gateways that would offer buying/selling of Ripples for Transfer against their base currency (something that is doable, but would take a lot of effort).
It could be a marvelous partnership, but if you were to ask me, if Facebook were to go towards the route of crypto currencies and the Bitcoin protocol, they would most likely stick with Bitcoin. The only benefit that I can see Ripple providing is the underlying (improved) protocol as the message format that encapsulate all transactions.