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Saudi Arabia: Central Bank want to ripple cooperate have


good news for the American start-up ripple Labs. The Saudi Central Bank wants to test their payment solution xCurrent in the framework of a pilot project. The trial aims to enable the many migrant workers as possible fast and cheap transfers to their home countries.

The Saudi Arabian Monetary Authority (SAMA) is the Central Bank of the Kingdom of Saudi Arabia. Ripple on Wednesday announced that it had concluded a cooperation with the SAMA. Due to the many migrant workers who each month send their wages to their families at home, Saudi Arabia for alternative payment systems is an interesting market. The Central Bank is the payment technology xCurrent of ripple in a pilot program test. Target’s international transactions faster, cheaper to make as transparent.

For the Saudi royal family it is not the Kryptowährung named XRP primarily the ripple monetary system. In the final form, the online financial system to a decentralized peer-to-peer payment system as also a marketplace for various fiat currencies such as euros, US dollars & v. m. be. In principle, trust the banking system is thereby transmitted on a digital level. So how you trust a bank that she also really pays off the credits in the amount of 100 euro one, there are ripple a digital register with all account balances, the decentralised management. a direct connection to and between the banks produces

xCurrent on the other hand. Even before the sales are completed, they can be previously validated and calculated the costs. The company ripple Labs coordinated transactions between banks and confirmed this by cryptographic signatures. More information can be found that English-language video of provider, for example, in .


about Lars Sobiraj

 Lars Sobiraj Lars Sobiraj in the year 2000 began, act as a career changer for various computer magazines. 2006 network policy and copyright law were added to as new priorities. After he led until October 2012, its editorial staff, he is now working in various online magazines on a freelance basis and of course for his own project, In addition, Lars Sobiraj teach dealing with the Internet and social networks to students for sustainable marketing & leadership (M.A..) at the Cologne Hochschule Fresenius. Some time ago, grew the interest in the topic Kryptowährungen fortunately work without the control of central banks. Very much like he wants his part help that bit coin & co. not only for pure speculators of interest are, but also for the woman and the man next door.

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