The innovation of XRP lies in the new way of doing transactions that makes the currency possible. Within a matter of seconds, transactions are completed at a price of less than $ 0.01. This new, fast and cheap way of doing transactions is perfect for banks, hence the interest from the financial sector. The company behind XRP, Ripple is a company that specializes in payment portals with, besides XRP, other financial products and services.
Ripple was founded in 2012 and has since grown to a billion-dollar company. The organization is focused on optimizing cross-border (international) payments. It is a business to business (B2B) product with the financial sector as a target group.
For a successful crypto coin it is important to conclude many partnerships. Ripple has an impressive list of partnerships. Approximately 200 companies, almost all financial service providers have a partnership with the company. Ripple is currently being run by Brad Garlinghouse. Garlinghouse graduated from Harvard Business School and is the former Senior Vice President of Yahoo. David Schwartz, Ripple's Chief Cryptographer and one of the original architects of the XRP database is a respected person in the cryptocurrency industry.
A total of 100 billion XRP was created in 2012. This stock is distributed as follows: 55 billion XRP in escrow account (55%) 6.2 billion XRP owned by Ripple and / or the Ripple Foundation (6.2%) 12.2 billion XRP owned by co-founder Chris Larsen (12.2%) 5.3 billion XRP owned by co-founder Jed McCaleb (5.3%) 2.5 billion XRP owned by co-founder Arthur Britto (2.5%) 18.9 billion XRP divided among investors (18.9%)