Cryptocurrency Real World Use Case | Ripple / XRP can save the Letter of Credit
6Please watch: "Walmart goes Blockchain with a catch | They want your Biometric Data"
https://www.youtube.com/watch?v=IfRiQXWxe7A --~--
Can Ripple and XRP save the Letter of Credit?
In International Transactions, you have cross border payments, currency exchange and a level of trust that needs to be achieved before payments are made and goods are sent. Cross border payments, a multi-trillion dollar business that Ripple is rapidly developing as a major player utilizing their xCurrent and xVia while relying on XRP as a readily available source of liquidity.
The trust between two transactional parties also needs a 3rd party intermediary, which is accommodated by banks through through a tool known as the Letter of Credit. This is an outdated mechanism, rife with problems, time constraints and cost. A new solution is needed and that solution could be Ripple.
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Watch additional episodes of Introduction to Cryptocurrency:
Part 1: Getting to know Cryptocurrency - https://youtu.be/RY2hJ2es4J0
Part 2: The Exchange https://youtu.be/pjATPU3oZt0
Part 3: The Exchange and your wallet https://youtu.be/uxHiemJrNeU
Part 4: How to secure your Crypto https://youtu.be/3jZRCSnoDP8
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