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Ripple Insights | National Commercial Bank of Saudi Arabia Joins RippleNet

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42 minutes ago, DeletedUser said:

I could be wrong, but I believe "RippleNet" is just a collection of ILP peers.

I could be wrong but I think it's actually more than that.  Ripplenet also include a set of governance rules that the institution must agree to and join so that value can flow freely amongst the nodes.

Im not sure of the details, but I believe it's been explained that the size and coverage of the Ripplenet is significant to the future usage of XRapid.   

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1 hour ago, bm32533476 said:

Ripple refer to RippleNet regardless of which of the 3 products is being used.

Does not matter. Convergence. This bank will participate in the Internet of Value, in which digital assets like XRP can compete with fiat currencies, based on their unique technical characteristics.

This is the plan.

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1 minute ago, lucky said:

Does not matter. Convergence. This bank will participate in the Internet of Value, in which digital assets like XRP can compete with fiat currencies, based on their unique technical characteristics.

This is the plan.

Just posted as a reply to some questions that came up in posts before. Not saying in any way this is negative :) It's been clear for a while that Ripple were waiting to get to the point where everyone joining RippleNet agrees and follows the same rules and where it would be a simple switch to work with any other member of the network. Actually, I believe Ripple are trying to get to the point where bilateral relationships between participants are not needed and where the network simply processes your payment / transfer in the best possible way regardless of which participant it goes through. That is the real value of RippleNet in my eyes.

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9 hours ago, DeletedUser said:

I could be wrong, but I believe "RippleNet" is just a collection of ILP peers. xCurrent is a specific implementation of ILP+SPSP. That would imply that when a bank is added to RippleNet, they're using xCurrent. That doesn't stop them from *also* using xRapid at some point though.

https://ripple.com/files/ripplenet_brochure.pdf

Ripplenet.jpg

Ripplenet2.jpg

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