XRP is ultra-fast and more convenient to transfer payments than bitcoin.
Although the U.S. Securities and Exchange Commission (SEC) is in a serious fight against Ripple, market researchers see great value in blockchains. Harvard University recently published a report on the digital US dollar, which includes mentions of Ripple and Stellar.
In the report, author Jayesh Mehta mentions that blockchain technology has become mature enough to handle the FIAT currency digitally. Interestingly, the report also mentions that blockchain networks such as Ripple and Stellar Lumens have gained increasing acceptance and become the preferred choice for international businesses.
Mehta’s report concluded that “due to the protocol’s consensus algorithm, XRP is ultra-fast and more convenient to transfer payments than bitcoin.”
Mehta goes on to note that XRP has become the preferred choice for international businesses around the world.
The report also explains the importance of blockchain networks and artificial intelligence machine learning.
In addition, the report also explains how these two blockchain platforms can facilitate instant CBDC settlement around the world using the power of artificial intelligence and machine learning. This process also includes an ML driven FX interface. The author explains the entire seven-step automated process for an unchanging funds transfer chain.
The sender initiates a transaction in FIAT currency, receives a private key and passes it to the recipient.
The submission will select either an immediate conversion or a future conversion, and will instruct the ML-driven FX platform.
The FX interface converts FIAT to XRP or XLM according to the instructions.
A smart contract controlled by machine learning will execute the instructions.
The FX interface must send the crypto to the recipient. The XRP blockchain must provide immutability and verification process. Execution should be carried out using smart contracts implemented on the basis of machine learning.
The recipient will use the private keys sent by the sender and receive funds in XLM or XRP tokens.
The recipient can convert the cryptocurrency to FIAT of their choice instantly or in the future. Smart contracts based on machine learning will handle execution in the future.