Faisal KhanAnswered Jun 7, 2015Well Ripple (since being a financial protocol in some sense) would allow any economy and/or ecosystem to use Ripple to make their own p2p (peer-to-peer) payment system.
As Ripple gains more traction, this ability, being able to build a P2P system on top and route it using Ripple, is nothing short of amazing.
PayPal's ecosystem is very large, and I doubt people would be willing to ditch their PayPal accounts in favour Ripple anytime soon. But because Ripple does take care of quite a few areas into consideration (transaction execution times, irrevocable payments, OFAC/AML/KYC capabilities, excellent routing network, multi-currency, market-market opportunities, etc.) this becomes a magnet for those wanting to develop a payment eco system that can not only function independently, but can also natively integrate to Ripple's payment system as well.
It will be sometime before Ripple creates a true dent (all based on the much needed traction), but nothing that PayPal and/or Stripe need to worry about immediately.
As Ripple gains more traction, this ability, being able to build a P2P system on top and route it using Ripple, is nothing short of amazing.
PayPal's ecosystem is very large, and I doubt people would be willing to ditch their PayPal accounts in favour Ripple anytime soon. But because Ripple does take care of quite a few areas into consideration (transaction execution times, irrevocable payments, OFAC/AML/KYC capabilities, excellent routing network, multi-currency, market-market opportunities, etc.) this becomes a magnet for those wanting to develop a payment eco system that can not only function independently, but can also natively integrate to Ripple's payment system as well.
It will be sometime before Ripple creates a true dent (all based on the much needed traction), but nothing that PayPal and/or Stripe need to worry about immediately.