Published on October 23rd, 2013 | by Donald McIntyre0
The Creator Of Ripple, Ryan Fugger, Talks About The Global Trust Payment Network
There are two major networks redefining money and the way we transfer value around the world: Bitcoin and Ripple. In the case of the former it is a concept similar to gold because it stores value, it is scarce, it can be divided, and passed from one person to the other to settle debts or transactions.
Ripple, rather than being an asset like Bitcoin, is a global network of people and entities who settle debts and transaction by transferring value using their trust connections.
The question is: how does a “trust” network work and let alone globally?
This is what Ryan Fugger, the creator of the Ripple, explains in the interview below.
We spoke about these topics:
– How did he come up with the idea of Ripple?
– Money: from local exchange trading systems, to government money, to trust networks.
– Economic transactions paying with trust rather than money.
– The transfer of IOU’s as a form of payment.
– Scaling it globally!
Please watch the video:
This is Ryan’s original Ripple website: https://classic.ripplepay.com/