First Online Payment System To Be Open-Source And Bank-Independent Now In Beta: Ripple
Paying without cash and without going
through a bank may seem an impossible proposition. Not so, says Ryan Fugger, the
architect of Ripple, an open-source bank-independent payment system that is now
in Beta release, meaning it's open to play with and test. Photo credit: Mikael
Damkier Conceived by Ryan Fugger and quite formally defined by Sylvain Poirier,
Ripple is a P2P monetary payment system based on trust that already exists
between people in real-world social networks. By cutting out the institutional
middlemen, Ripple is both more community-oriented and more efficient as a means
of exchange The idea is simple but it has world-changing potential. Here is how
it works, as explained on the Ripple.com site:...