Ripple is a platform and a currency. It aims to modernize local payments by connecting financial institutions via RippleNet. In theory, this should make the global financial system more effective and agile.
Chris Larsen is a Founder and Executive Chairman of Ripple. He is an experienced technology executive and angel investor and has several technology ventures under his belt. One of his earlier ventures was E-loan which he co-founder back in 1996. E-loan became the first company to provide clients FICO credit scores for free. The company became a unicorn with a market capitalization exceeding 1 billion US dollars by 2000.
Jed McCaleb is a well-known persona in the crypto industry. The list of companies that he worked or co-founded includes Ripple, Stellar, eDonkey as well as Overnet. Have you heard of Mt.Gox? He was one of the co-founders and sold his shares before the infamous hack.
Venture capitalists and professional investors are generally wary of diving into blockchain and cryptocurrency projects given a number of risks that surround the industry. However, Ripple seems to be an exception to the rule given that some of the top venture capital firms have poured millions of dollars into the project. Andreessen Horowitz, Google Ventures and Accenture are some of the most well-known venture capitalists who bought into Ripple’s vision and agreed to take on the risks.
The total amount of venture capital Ripple raised to date is over 80 million US dollars. Meanwhile, the XRP token which is a native cryptocurrency on Ripple blockchain is valued at over 16 billion US dollars and is third only to Bitcoin and Ethereum.
Ripple boasts a number of famous companies in the financial industry in the client section on the website.
Ripple is the company behind the actual payment solution software that it licenses or sells to Payment or financial institutions or banks. Ripple, the company, created the XRP ledger and the native digital asset XRP. It is important to note that XRP and the XRP ledger are independent of Ripple the company, although it is worth mentioning that a large majority of the XRP tokens in existence are locked up by the company.
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