Ripple Labs Named ‘Technology Pioneer’ by World Economic Forum
Mario Cotillard, 07 Aug 2015 - Award, Blockchain, Ripple
San Francisco based Ripple Labs, one of the world’s leading distributed ledger firms, won the award for its development of the
innovative Ripple protocol, and its potential to change the antiquated world of bank-to-bank settlement. The award comes with
access to some of the highest ranking government officials and business leaders in the world.
“We’re glad to see a distributed ledger company make it to the selection. Ripple Labs is part of a group of entrepreneurs who
are more aware of the crucial challenges of the world around them, and who are determined to do their part to solve those
challenges with their company.”
<Fulvia Montresor, Head of Technology Pioneers at the World Economic Forum>
According to a World Economic Forum blog post, the program is meant to recognize early stage companies from around the
world that are designing and deploying new technologies that could have a huge social and economic effect on the world. Having
a working prototype, innovating far beyond others, and outstanding leadership were also things considered.
Ripple Labs will now have access to one of the most influential and sought-after business and political networks in the world,
and attend the Annual Meeting of the World Economic Forum to be held in Davos, Switzerland in January 2016. The award will
be officially presented to the distributed ledger company at the ninth Annual Meeting of the New Champions in Dalian, China in
September.
Other winners this year included, remittance startup TransferWise, secure communications platform Wickr, and a robotics
agriculture firm Blue River Technology. A total of 49 companies in the information technology, energy, and health sector won
awards this year.
Over the course of the program, the title of ‘Technology Pioneer’ has been awarded to more than 600 companies. Famous tech
startups, such as Google, AirBnb, Kickstarter, SoundCloud, Twitter, Mozilla, and Dropbox, have been named winners in previous
years.
The World Economic Forum discussed the digital currency Bitcoin at the organization's meeting earlier this year in Davos,
Switzerland, and came to the conclusion that though bitcoin the currency is flawed, the blockchain and distributed ledger
technology behind it shows promise.
1
The Ripple Protocol has attracted attention from a range of interested parties. The company behind the open source protocol
attracted two awards, the magazine MIT Technology Review recognized Ripple Labs as one of the years 50 Smartest
Companies. The criteria for the recognition revolved around "whether a company had made strides in the past year that will
define its field."
Ripple Labs was also named as a finalist for a PYMNTS Innovator Award during 2014, in two separate categories, Best New
Technology and Most Disruptive Company. Earlier this year the company was named the world’s fourth “Most Innovative
Company in Money” for 2015, by Fast Company, as part of its annual Most Innovative Companies Issue.
This newest accolade is further testament to Ripple Labs’ effort, bringing blockchain and distributed ledger technology to the
established financial industry. Earlier this year, the fintech tech startup joined the Federal Reserve’s Faster Payments Task
Force Steering Committee, to lead the United State’s efforts to upgrade the country’s financial infrastructure.
Ripple Labs’ Head of Research, Ryan Zagone, is now part of the 16 member committee which guides the central bank’s efforts
to enable ‘real-time payments’ for American banks and financial institutions, and respect the various stakeholders in the
discussion. The task force encompasses an even larger group of over 300 banking, government, payments, and other financial
services professionals.
“I will continue Ripple Labs’ constructive approach in working with peers, bank partners, and the broader financial industry—
including NACHA, IPFA, and the W3C.” said Zagone in an official statement. “Above all, I am committed to being an open and
inclusive presence on the task force, representing the priorities and concerns of fellow non-bank service providers.”
The already well funded company also recently completed a $28 million Series A funding round, that included IDG Capital
Partners and the venture arms of CME Group and global data storage company Seagate Technology.
Among all the success, media attention, and multi million dollar deals, FINCEN fined Ripple Labs $700,000 USD in May. The US
Federal regulatory body that protects the U.S. financial system from being exploited by illicit activity stated that Ripple Labs
"willfully violated several requirements of the Bank Secrecy Act (BSA) by acting as a money services business (MSB) and
selling its virtual currency, known as XRP, without registering with FinCEN, and by failing to implement and maintain an
adequate anti-money laundering (AML) program designed to protect its products from use by money launderers or terrorist
financiers.“
http://bravenewcoin.com/news/ripple-labs-selected-awarded-technology-pioneer-by-world-economic-forum/?
Google that fulfills the dream of becoming a millionaire
The biggest resource for Google is a future-oriented business; "Google Total Search Engine”, “Android Operating System”, and “Electronic
Money– Google Ripple Coin”
◈ World’s Biggest Internet Search Company
→ has more than 60 branches all over the world and offers service in more than 130 languages
◈ Profit in the online advertising market as of 2008
→ U.S.A USD 23G/ monopolized 40% of USD 54 G worth of world’s profit
◈ Raise and invest in the world’s largest future oriented business
→ Google Venture and electronic money (Google Ripple Coin)
?
“Core of Google” is the company that executes astronomical investments and creates future profits.
“Power of Google” is “Investment of Google becomes the reality” → If Google invests, anyone can fulfill a dream of becoming a
millionaire.
Business of Google will lead all the electronic money(Google Ripple Coin) when the world’s Internet is united as one.
Downsize actual money → Google’s choice of “Electronic Money (Google Ripple Coin), the next generation
electronic finances that will lead the world’s monetary market
Dollar, a leading role to replace “Key Currency” ⇒ Electronic Money
(Ripple Coin)
3
• Subsidiary Company of Google that will fulfill the dream of becoming a millionaire
▶ Youtube : World’s Biggest Video Sharing Site→ more than 100 million visitors per day
• receives about 100 million hits on videos every day, truly the world’s biggest video site
• selected as the best invention by “Times” in 2006.
• was taken over using the stock exchange method in October 2006 at the cost of USD 1G, 650M
(KRW 1 T, 700 G).
▶ Google Earth : World’s First Satellite Imagery Map Service that can interlock with Google Map
→ provides satellite imagery maps from other companies.
• invested USD 2G (KRW 2T) → provides truly the world’s first and greatest map service.
• offers the world’s greatest 3D world map → provides the distance measurement using various tools and
3D real life images.
• provides characteristics of searched area → marks information such as locations with a history of
earthquake or volcano, the radioactive level around the world, and so on.
• added Sky mode in 2007 → provides information on planets, starts, nebula, and space constellation
research → Vivid space experience is possible through a high-resolution picture through the Hubble
Space Telescope
▶ Android : World’s Largest Portable Operating System(OS)
→ anyone can develop application programs due to the public offering of source codes.
• invested USD 25G (KRW 2T, 500G) → challenged two of the world’s best operating systems such as
Apple and Microsoft.
• is astrong operating system based on LINUX → a platform created by combining middleware and
application programs
• invented as a mobile operating system and used for various portable devices because it is the
cheapest operating system.
• “Windows” by Microsoft is in the process of review to offer it free because of “Android” by Google.
＋
▶ Calico : Google’s Biotech Company → has a goal to extend the life span of human to 500 years by
inventing medicine for cancer and aging
• targets the anti-aging medical market such as the expansion of life span and the longevity engineering
→ the market size is expected to be about USD 30G (KRW 30T).
• established in 2013 → conducts research in the life span of humans and longevity with human DNA
information and Google’s Bic Data
• singed a joint investment cooperation worth USD 15G with AbbVie (KRW 1T, 500G → conducts
study regarding neurodegeneration and cancer, and is expecting definite results
4
▶ Partnership with “Ethicon”, a subsidiary company of Johnson & Johnson → entered into surgical robots.
• USD 15G. (KRW 1T, 500G) → stepped up to be the best company in the field of surgical operation.
• recuperative powers rose due to the accuracy of surgical operations and minimal incisions
→ After a minimal incision, a tiny needle enters the body and performs the smallest surgical operation with laser.
• utilize Google’s Bic Data.(understand an accurate cause and perform accurate surgery using the high
quality image data and real-time medical resources.
• has the best technology and the most cutting-edge robot technology in the field of medical instruments
▶ Google Ventures : investment and consultation → became the best investment company in the Silicon
Valley in 5 years. (listed 3 companies in 2013)
•has an asset value of USD 200 G (KRW 200T)
•is the company that fulfills Google’s spirit and corporate philosophy
→ supports new companies with investments for foundation and technology by following Google’s
corporate philosophy which states that it provides opportunities for anyone who wishes to realize
technology sharing and ideas.
•established branches in major countries around the world and provides opportunities for many countries.
▶ DeepMind : manufactures Artificial Intelligence (AI) → designs “Artificial Intelligence” through intensive
learning and biological nerve networks.
• USD 10G. (KRW 1T) → the possibility for the first commercialization of AI is increased due to the
world’s best facility investment and research staffs.
• Google made an enormous investment in the robot industry as the driving force of the future business
→ took over 8 robot companies such as the America’s best disaster rescue robot company “Boston
Dynamics”
▶ Google’s Space Shuttle and Space Exploration Company : invested in “SPACE X” and rented NASA’s
Space Station
• USD 30G.(KRW 3T) → plans on gradual investments except the first investment.
• invented the first private spaceship → aims for the private space travel experience and released
the first package product for space travel
• succeeded in the 7th launch of the first private “Unmanned Space Freighter” and “Dragon” →
delivered freights to the space station
• is the beginning of the space parcel service business→ signed a contract with NASA for USD
16G worth of freight transportation (KRW 1T, 600G)
5
▶ launched the world’s first unmanned automobile control system
→ developing to aim for the commercialization in 2017
• expected to make an added value of USD 30G (KRW 30T).
(All automobile makers around the world are potential customers)
• is an innovation in the IT business world → an technological innovation that enables people to open the
door with a smartphone and track my location to bring around my car
• launched the code name “Android M” → an operating system that controls to make the unmanned
automatic driving possible
※ reached 12km without any accident and succeeded in obtaining a training license in the state of Nevada
(passed legal problems)
▶ Boston Dynamics : America’s Best Disaster Rescue Robot Company → launched quadruped robots along
with human-type robots
• invested USD 15G (KRW 1T, 500G) → signed the supply contract as an American defense industrial
corporation
• is the best company in the field of military and disaster robots → Defense Advanced Research Projects
Agency(DARPA) in the Ministry of Defense in America is the best customer.
- Quadruped Robot : a conveying robot that carry things for soldiers through steep hills or mountain
roads automobiles or soldiers cannot go through
- Disaster Rescue Robot : performs rescue activities by bipedalism or quadrupedalism in dangerous
areas humans cannot enter
▶ Savioke : a start-up robot company located in the silicon valley → applied in places such as hotels, nursing
homes for the elderly, hospitals, and restaurants
• is a commercialized robot applied in the service industry → Google Ventures invested USD 20G.
(KRW 20T)
• applied in all calling-type service. → sends information of the service robot to the customer’s smartphone
▶ Google Ripple Coin : Google’s choice to lead the world market by choosing “Electronic Money(Google
Ripple Coin)” for the next generation’s electronic finance
• Google Ventures → invested USD 1G (KRW 1T), Ford Motors → invested USD 200M (KRW 200G)
• the world’s uniform currency appeared to do the reduction in the commodity money → arrival of the era of the
electronic finance. (The key currency to replace dollars)
• “NACH”, the world’s financial management institution, only acknowledge “Google Ripple Coin” out of
all electronic money.
• linked with Visa card → signed an MOU with Visa, so enabled to use at any “ATM” or Visa affiliates
around the world.
• signed an MOU with European Bank Union → transactions with “Google Ripple Coin” possible at any
bank in the European Region. (Encashment)
• established a branch in “Sydney”, Australia → in order to pay Asian trading costs in “Google Ripple Coin”.
• is expected to be listed in NASDAQ at the end of this year.
6
Subject: Ripple Labs & Partnership with Western Union
https://www.cryptocoinsnews.com/ripple-labs-larsenpartnering-western-union-payment-settlements/
Google that fulfills the dream of becoming a millionaire!
7
The Western Union Company (NYSE:WU) In Talks to Sign A Deal with Ripple Labs
MAY 4, 2015 BY CHRIS BROWN
The Western Union Company (NYSE:WU) has been working on a new pilot program with Ripple Labs. This is the first time the
company is looking towards real-time payment solutions. Western Union throughout its history, has been working with the same
strategy of transferring money through banks, for a very long time. The new program will allow Western Union to make use
Ripple’s real-time settlement infrastructure and integrate it in its own business plans.
The interesting thing to note here is that WU’s Chief Information Officer, John Thompson, had criticized the Ripple Labs
program as an “unprepared technology for the financial markets.” Now it seems that Western Union has decided to catch up with
the ever changing payment markets and it is ready to take such risks. Additionally, Ripple Labs has been receiving a number of
positive coverage of the news and media. As per the latest reports, Ripple Labs has hired leading Wall Street veterans for its
board. The CEO of Western Union, Hikmet Ersek, had agreed to accept Bitcoin technology. However, the technology should be
properly regulatory authorities.
Ripple Labs has also been involved with financial networks and institutions to provide real-time settlements in all currencies to
lower liquidity. Western Union is, however, still focused on a watch and learns approach. This still does not mean that the
company would let go of its traditional approaches. Western Union renewed its contract with the U.S. Bank, one of the top five
banks in America.
Under the new terms, the customers of the banks would be able to make use of Western Union services through mobile
banking, online banking and the bank branches. Western Union’s VP, Carter Hunt, expressed pleasure at the extension of the
contract. He promised the same kind of customer service and innovation that had become an integral part of the company.
Whether Ripple Labs is a part of these innovations, remains to be seen.
The Western Union Company (NYSE:WU) closed at $21.25, reporting no change on May 1. The company has 521.45 million
shares in the market, with a 52-week range of $15.31-$21.97.
Tags: Hikmet Ersek, NYSE:WU, The Western Union Company (NYSE:WU)
http://wallstreetpr.com/the-western-union-company-nysewu-in-talks-to-sign-a-deal-with-ripple-labs-35533
8
9
Booming of Electronic Money in 2015 ⇒ The First Year
• FinTech begins.
• FinTech begins.
• Google, Samsung, Apple, and Alibaba
will make it popular.
⇒ Fierce competition is expected among the
world’s top 4 companies.
FinTech ⇒ The era of Electronic Finance
▶ Regression of the traditional offline banks
▶ The era of wireless Internet began beyond the credit society(credit cards).
→ No stores, the era of electronic finance operating 24 hours around the
world.
▶ Minimum managerial costs, and offering of services at an inexpensive fee
▶ Simplification of devices in financial transactions due to the development
of wearable devices
<'Internet Bank' with no physical store possibly in launch next year>
<Convergence Industry of Finance and IT>
※ The era of paper money is coming to an end.
<Maintenance costs do not occur because there is no branch.
Also, interest rate fee is cheaper because of the competitiveness in price.>
10
Booming of Electronic Money in 2015 ⇒ The First Year
• Google, Samsung, Apple, and Alibaba will make electronic money popular.
☞ Fierce competition is expected among the world’s top 4 companies.
• The second currency war to take over the vacancy of traditional money →2015 is the first year of the prelude
※Traditional bank are investing in future values and opportunities instead of present profits
Banks cooperating with Alipay although it is not making much
profit right now
Offers Alipay due to the increase in demands for payments by Chinese visitors
Concerned with creating profits
<Samsung, Apple, and Google Electornic Waller 'Pay War‘>
Hana Bank will launch the service on May 9th, Woori and Shinhan Bank are
preparing as well
Hana and Woori focusing on the exchange margin, Shinhan Bank focusing on
fees
There are number of banks in Korea trying to cooperate with Alipay, China’s
best online payment company.
As more and more Chinese visitors flow into Korea, the demand for Alipay
payment is increasing as well.
Hana Bank has launched the payment and adjustment agent service for the first
time in Korea, and Woori Bank will be offering services related to Alipay soon
as well. Shinhan Bank is carefully reviewing ways to cooperate starting this year.
Banks are coming up with different strategies to create profits from cooperating
with Alipay.
<Apple Pay ranks the no.1 in mobile payment,
partnership with about 2,000 banks or card companies>
<Google, launching 'Android Pay' in May>
11
2015, the paradigm of FinTech(Electronic Finance).
• Electronic Finance ⇒ should not a simple payment method. It should be a “Financial System.
☞ Finance is a system. → Traditional banks are formed with a certified system that has been modified and supplemented over many decades.
• Loan
What is finance? → It is not a simple exchange of money, but is a set of various matters forming the
system except the added value during the process of distribution.
• Savings
• Transfer
• Wire Transfer
Traditional Bank
Electronic Finance
Evolutionary Process for Money
→ Evolution is a vision for the next
generation
Barter
Primitive Money
(Shells/Rocks)
Promised Money between
Countries
(Coins/Bills/Checks)
Evolutionary process until now
Credit Card
(Network/
Computerization)
Electronic Money
(Network transcending Countries)
Money for the next generation(Electronic Finance)
→ System embracing all generations through repeated
evolutions
※ Transcending countries, the beginning of currency money
12
2015, the design of FinTech(Electronic Finance)
→ Transcending countries, the era of “Google Ripple Coin, World’s Currency” begins
•
Supranational Money Period
(Currency War)
1st Round → Credit Card
Development order of electronic finance
2nd Round → Google, Samsung, Apple, Alipay
3rd Round → Electronic Money (Truly worldwide
currency and finance)
Vision of Google Ripple Coin→ Finance in FinTech
Era
1.
• Electronic Money-Google Ripple Coin ⇒ distinguishing between good and bad
(conditions to call finance)
Analysis
of
two
electronic money
Mining System
Representative
Coin
Transaction
System
Bit Coin and its affiliations
Coin Storage
Personal Wallet (Personal PC )
P2P (Person to Person)
Google Ripple Coin-Issuing System
Google Ripple Coin
Personal Wallet
(Ripple Server : divided into 50 servers in 3 continents
→ concept of bank account)
Confirmation by third party (Traditional bank
method)
Seller transfers coins → Relay Center
Sales Method
Buyer transfers cash → Relay Center
Confirmation of transfers by the relay
center → payments for each party
Created by cryptography
Coin
Generation
※ In mining system, anyone can make it
because the program for Bit Coin is
released on the Interne.
▣ Method of 1st generation electronic money
→ Purpose of exchanging money
※Similar coins made with the open source of Bit coin only
practices the basic role of money. ⇒ Exchange
Seller sells → similar to stock transaction (input the selling price
and quantity)
※ Wire transfer cash from an agency in the chosen country
Occurrence → public confidence grew because investments were
made by leading companies such as Google Ventures
▣ Method of 2nd generation electronic money
→ Exchange, wire transfer, savings, investment
※ Coin with the most similar system with the existing bank system.
International concept of “Internet Bank” ⇒ loans not available
Storage : store in server → available to use at any Internet
environment and on any PC
2. Coin at the last phase of the evolution of money
→ Supranational money. (World’s ranking 2)
3. Key currency of next generation → arrival of electronic finance due
to the reduction of money(dollar) usage (Leading role for next
generation ↔ key currency for next generation)
→ Role of Transition Period: works as a bridge between
electronic finance and traditional banks
▶ Money from the entire world ⇒ switch to ripple in
real time.
▶ Ripple ⇒ switch money from the entire world.
※ Fulfillment of the role of transition period → rise in
awareness as the leading role for next generation
4. Continuous expansion of the field of business as the key currency
→ recognized by world’s financial management institutions
• NACHA⇒ The Electronic Payments Association
• IPFA⇒ International Payments Framework
Association
※ rose up to be transnationally present, strengthened
public confidence
5. Business field for private application
→ run a business to settle as payment currency according to the
expansion of traditional banks and trades in Asia.
• Earthport ⇒ about 60 of world’s companies and financial
institutions are members.
(World’s Best Global Offline Payment Network)
• GBI, a global gold distribution company
• 15 banks including Bank of America →
savings in ripple
• to use as the payment currency for trades in Asia →
established a branch in Australia
13
Reasons to invest in Goole ripple coin.
The enormous forces are making a Google ripple coin.
• Secret investments by the “Rockefeller” and “Rothschild” families, which control 60% of the world’s money
→ Google Ripple Coin
Confirmation of powerful wealth and authority → “Federal Reserve Bank-FRB” issues U.S dollars ⇒ a private bank, not owned by the country.
Federal Reserve Act in effect as of November 1914 → the key was the authority to issue “dollar” and to control the money supply.
▶ Private central bank issued money without any evidentiary material and lent it to the
government to create profit from interests.
※ The Rockefeller and Rothschild Families established it.
Comparison
Rockefeller
Rothschild
Assets
(Dollars)
Owned Companies
76T
(KRW 76P)
JP Morgan Chase, Goldman Sachs, Exxon
Mobile, US Steel, Shebron Texaco, Lockheed
Martin, Cargill, Monsanto, DuPont, Dow
Chemical, New York Times, Washington Post,
Citi Bank, CNN, ABC, Chase Manhattan
Bank(cofounded with the Rothschild Family),
and more
45T
(KRW 45P)
Rothschild Bank, Philip Morris, Philips
Electronics, Nestle, Nestle Nutrition, New York
Times, Washington Post, Wall Street Journal,
Reuter News Agency, ABC, CBS, Bank of
America(partnership with the Rothschild Family)
Cofounded
(Investment)
Share Ratio of
Federal Reserve
System Bank
Citi Bank 15%
(cooperation between
Rockefeller and Kuhn
Loeb Company)
Chase Manhattan Bank
Morgan Trust 9%,
Chase Manhattan 14%
14
Preeminent American Banks that deposit in Google Ripple Coin → owned by the “Rockefeller”
and “Rothschild” families
• The “Rockefeller” and “Rothschild” families with powerful financial means and
authority are pushing Google Ripple Coin as the “key currency” for next generation.
Expected to have a shift in generations in the financial world due to the reduction of
actual money
→ Two families are leading the power transfer from actual money to electronic money.
• Google Ripple Coin was the only electronic money recognized as real money by “world’s financial management institutions” with the help
from two families
• NACHA ⇒ The Electronic Payments Association
• IPFA ⇒ International Payments Framework
Earthport ⇒ World’s Best Global Offline Payment Network
• GBI, a global gold distribution company
• 15 banks including Bank of America → Savings in ripple
Employment of celebrities in the top 5% in America
- Gene Sperling : the first person to serve as the economic advisor
for two presidents (Clinton and Obama) in history and also served as
the best board of director in America’s National Economic Council.
Rose to be a transnational thing
Unconditionally supported by the best
private financial payment system company
Where did the power to hire a prominent person in the
society, who care more about honor than money, for the
position of an economic advisor at Google Ripple Coin
come from? - influence from the Rockefeller and
15
Rothschild families
What is “key currency” and “electronic money” for next generation Google
Ripple Coin is talking about?
Definition of Google Ripple Coin
• Investment : Google USD 10G (KRW 1T) / Ford Motors USD 200M (KRW 200G)
• Issue : ▶ May 2013 → issued 100G coins. (Additional issue is not available)
▶ Currency unit for Google Ripple Coin → XRP
▶ 0.00001% dissipated at every transaction. (1 out of 100,000)
• Security : confirmation of a third party, → divided into 50 servers in 3 continents. (similar to Internet
Bank accounts)
▣ What is future money Google Ripple Coin will lead as key currency for next generation?
• Google Ripple Coin can be immediately used in any environment→ available in wired/wireless Internet and on any PC or
device.(Smartphone)
• Google Ripple Coin is a combination of the future and the past : performs a role of a transition period → any real money from the entire
world can be switched to “Google Ripple Coin” without any process in between.
※ Reverse switch works the same way.
• Google Ripple Coin is convenient to use → solved only with a “log-in” without any complicated confirmation process
※ Convenient additional services ⇒ partnership with VISA, which enables to use Ripple Coin like cash at any affiliated stores in partnership
with VISA and at any ATM
• Google Ripple Coin has cheap transfer fee → 0.001 %, payment complete in 5~10 seconds
※ designed a financial paradigm with reduction system in the market of KRW 4,000T in the standard of the world’s volume of foreign
exchange
▣ Google Ripple Coin → Banks where deposits with electronic money is possible.
16
Banks where deposits with Electronic Money(Google Ripple Coin) is
possible
◈ Fidor Bank in Germany decided to use Google Ripple Coin for overseas
remittance on August 23, 2014
◈ Deposits with Google Ripple Coin is possible at 14 banks including Bank of
America
◈ Local banks in 7 countries in South America as of June 2014.
(Brazil, Chile, Colombia, Mexico, Peru, Argentina, Uruguay)
◈ Launching of transfer service using Google Ripple Coin Network
◈ Google Ripple Coin participated in NACHA in May 2014 as the only
electronic money
NACHA is the representative institution of ACH
(Representative of financial institutions and industrial trading institutions)
◈ GBI (Gold Bullion International) → a global gold distribution company
enabled to send company-owned gold to anyone anywhere around the world
by participating in Google Ripple Coin
17
Ripple Labs Expands to Asia Pacific to Serve Regional Demand for Ripple’s
Real-Time Settlement Protocol
Apr 6, 2015 | Amanda Bullington
Financial Technology Veteran Dilip Rao Named Managing Director Ripple Labs APAC Based in Sydney, Australia
SAN FRANCISCO, CA and SYDNEY, AUSTRALIA–(Marketwired – Apr 6, 2015) – Ripple Labs today announced
that it has appointed Dilip Rao as Managing Director of its new Ripple Labs Asia Pacific subsidiary. The office
was established in response to growing demand for Ripple’s real-time settlement protocol in the region, and to
more directly connect interested Ripple Labs partners in the United States and Europe with Asian Pacific
markets.
According to McKinsey, in 2013, cross-border payments in Asia Pacific totaled $200 billion, and accounted for
nearly half of all payment revenues in the region. Also according to McKinsey, Intra-Asia trade flows totaled
almost $3 trillion in 2012, and are expected to surpass intra-Europe trade flows to become the largest in the
world by 2016.
“We are excited to formally unveil a presence in Asia Pacific — an area that has been aggressively pursuing
faster payment technologies for both domestic and cross-border payments,” said Ripple Labs CEO and cofounder Chris Larsen. “Dilip is a natural fit to lead this office because of his years of experience in the space
and his deep, engaged network in the region.”
The first office for Ripple Labs Asia Pacific is based in Sydney, Australia, and is actively recruiting integration
engineers, architects and other key hires. Ripple Lab Asia Pacific demonstrates the company’s commitment to
the emerging and dynamic market, and its regional mandate will include Australia, New Zealand, Japan, China
and other countries in Southeast Asia and the Middle East.
Dilip Rao leads business development and operations for Ripple Labs Asia Pacific. In this role he engages with
leading banks, regulators and central banks in support of Ripple’s adoption.
He has more than 25 years of experience in senior management with technology multinationals in technical,
sales and marketing roles in Asia. He has consulted to major banks and corporates in Australia on innovation
and was the founder of Australia’s first person-to-person payments startup.
Rao holds degrees in Physics and Electrical Engineering and an MBA from the Indian Institute of Management,
Ahmedabad, India.
“I am thrilled to bring Ripple Labs to Sydney, where we can more effectively serve eager markets in India,
Singapore, the Middle East and across APAC,” said Rao. “Banks and enterprises can leverage Ripple to more
efficiently service the exploding trade and remittance flows in this region.”
Ripple Labs is the global leader in distributed financial technology and standards. The team supports the
adoption of Ripple, a settlement protocol that enables the world’s disparate financial networks to securely
transfer funds in any currency in real time. Banks, money transmitters and clearing houses can use Ripple as an
alternative to correspondent banking to facilitate straight through processing with no reserve funding required.
Earthport, the largest open network for global bank payments, and three banks in the United States and
Germany recently announced Ripple integrations.
https://ripple.com/ripple_press/ripple-labs-expands-to-asia-pacific-to-serve-regional-demand-for-ripplesreal-time-settlement-protocol/
Summary of Coin
Money makes
Coin
purchase of
Money
Virtual Money
of
Digital Money
•
necessities or
mutual
transactions
If you own,
\ 1,000
$ 1,000
Money has value if
only it can be used
100% immediately.
possible.
Google Ripple Coin can be cashed or used immediately · 100% by using
Ripple Exchange Market or Ripple Visa Card.
Worldwid Real-time Coin Market http://coinmarketcap.com/
20
XRP
Executive
Key Individuals at Google Ripple Labs
Chris Larsen
Chris Larsen is CEO and co-founder of Ripple and Chairman of the Board of Directors. Prior to Ripple, Chris
cofounded and served as CEO of Prosper, a peer-to-peer lending marketplace, and E-LOAN, a publicly traded
online lender. During his tenure at E-LOAN, he pioneered the open access to credit scores movement by
making E-LOAN the first company to show consumers their FICO scores. Chris serves at the Board and
Advisory levels at numerous companies and organizations including: Betable, CreditKarma, and Electronic
Privacy Information Center (EPIC).
Founder of the Internet Bank Theory as well as “Prosper”, the world’s first P2P lenders.
Jed McCaleb
Jed McCaleb cofounded OpenCoin Company in 2012 and worked as Chief Technical
Officer(CTO)as well. Prior to OpenCoin Company, he founded eDonkey company in 2000 (P2P fled
sharing network at that time) and Mt.Gox in 2010(The largest Bitcoin exchange market). Jed
McCaleb dropped out of UC Berkeley in freshman year to achieve something.
Founder of Mt.Gox, a bitcoin exchange market, and “eDongkey”, a P2P service company
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XRP
Executive
Google Ripple Labs 연구소 주요인물
Gene Sperling
Gene Sperling served as National Economic Council Director and National Economic Advisor under President Clinton from 1997 to
2001 and then under President Obama from 2011 to 2014. Prior, he was senior counselor to Treasury Secretary Geithner, advising
on financial crisis and auto rescue issues as well as being lead advisor on fiscal and jobs issues. In 2008, he was a chief economic
advisor to Hillary Clinton during her Presidential campaign.
He is currently President of Sperling Economic Strategies, which advises financial companies, start-ups, Fortune 500 companies
and philanthropies, including PIMCO. Sperling was named one of the 100 Most Powerful People in Global Finance by Worth
Magazine and as one of the 50 Most Powerful People in Washington by GQ. Sperling graduated from the University of Minnesota
and Yale Law School, and attended Wharton Business School.
Susan Athey
Susan Athey is Professor of Economics at Stanford Graduate School of Business. She received her bachelor’s degree
from Duke University and her Ph.D. from Stanford, and she holds an honorary doctorate from Duke University. She
previously taught at the economics departments at MIT, Stanford and Harvard. In 2007, Professor Athey received the
John Bates Clark Medal, awarded by the American Economic Association to “that American economist under the age
of forty who is adjudged to have made the most significant contribution to economic thought and knowledge.” She
was elected to the National Academy of Science in 2012 and to the American Academy of Arts and Sciences in 2008.
Professor Athey’s current research focuses on the economics of the internet, internet search, online advertising and
the news media, and virtual currencies. She advises governments and businesses on the design of auction-based
marketplaces, notably since 2007 serving as a long-term consultant to Microsoft Corporation in a variety of roles,
including chief economist.
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XRP
Executive
Key Individuals at Google Ripple
Karl-Theodor zu Guttenberg
Karl-Theodor zu Guttenberg is the Chairman and a Founder of Spitzberg Partners LLC, a boutique corporate advisory and investment
firm headquartered in New York that provides strategic counsel and investment insights on European and international political,
economic, technology, and security matters.
Mr. zu Guttenberg served as Minister of Economics and Technology and then as Minister of Defense in the cabinet of German
Chancellor Angela Merkel. As youngest Defense Minister in German history, he led the most significant structural reform of the
German armed forces since the Bundeswehr’s founding. During his time in office he was Germany’s most popular politician.
Karl-Theodor zu Guttenberg was a CSU Bundestag Member during 2002-2011 and served as spokesman on the Foreign Affairs
Committee. He is a Distinguished Statesman at the Center for Strategic and International Studies (CSIS) in Washington, DC and serves
as Senior Advisor to the European Commission leadership on global Internet freedom.
Ryan Fugger
2004, Ryan found the concept of universal, open, but non-centralized payment network that works
with routing between network participants through a random network of the mutual credit link. Then
he named this system “Google Ripple.” Years later, he was thrilled that his vision was made into a
platform by combining concepts of innovative coding currency. Ryan은worked as an independent
software consultant in the state of British Columbia in Canada.
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Goole Ripple Labs - appoints former economic advisor to President Obama in
the board of directors
Goole Ripple Labs appointed Gene Sperling, a former economic advisor to former president Bill Clinton as well as current president
Barack Obama, as an advisor to Google Ripple Labs.
Gene Sperling has worked in the National Economic Council(NEC), the presidential decision making body for economic policy in the
Clinton administration. He also worked as an advisor to Timothy Geithner, the Minister of Finance, in the Obama administration while
working as the best assemblyman for the Council of Economic Advisors.
When Sperling was stepping down from the director position in National Economic Council(NEC) in 2014, he expressed his wish to
advertise Google Ripple Labs more broadly through his statement :
“ I am excited to join Ripple Labs and their mission to dramatically increase the speed and
efficiency of cross-border payments through a common Internet protocol.”
Chris Larsen, the CEO of Google Ripple Labs, announced that Sperling will be applying an important role when signing partnership
contracts with many financial companies.
About Mr. Sperling,
Mr. Sperling worked as an advisor to Timothy Geithner, the Minister of
Finance, in 2009 when the automobile industry was in the relief loan
situation before working at the National Economic Council(NEC) in the
Obama administration. Before he was appointed as a director at the
National Economic Council(NEC), he has an official career of
participating in composing the economy and the financial policy at the
White House.
Mr. Sperling also worked as a chief economic advisor to Hilary Clinton,
a former Secretary of State in 2008 during the presidential election.
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Earthport is the largest open network for global bank payment, and does businesses with companies and financial institutions in
about 60 countries around the world.
Earthport won B2B Payment Innovation Award in 2014 at the second FStech/Retail Systems Payments Awards.
Earthport is in the list of Alternative Investment Market(AIM) at the stock market in London, and is approved as well as controlled
according to the payment service policy of 2009 by Financial Investigation Authorization Institution.
Earthport’s expertise and proven prominent platform will offer an enormous opportunity to grow internationally to control the
direction of local regulation.
The partnership between Google Ripple Labs and Earthport will be an important guidepost to achieve one of many Google
Ripple Labs’ missions of developing and expanding Google Ripple Network by connecting to the original financial system.
Earthport is the largest open network for global bank payment, and does
businesses with companies and financial institutions in about 60 countries
around the world.
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Introduction of Google Ripple Coin
Real-time Network
Google Ripple Homepage
http://www.ripple.com/
Google Ripple Labs Homepage
http://www.ripplelabs.com/
Google Ripple Trade
(Coin Personal Account)
http://www.rippletrade.com/
Real-time Google Ripple Market Price
Chart (Gateway)
Real-time Coin Market
http://www.ripplecharts.com/
http://coinmarketcap.com/
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Birth of Digital Money
The present time is in need of a new currency system.
Until now costs of trade has been paid with dollars as the carrying currency, which
continuously caused opportunity losses in burden of paying fees as well as time.
Remittance fee
Domestic bank cable fee
(including telegram fees)
Brokerage fee for overseas
intermediary bank
Fee for overseas local bank
Market of KRW 4,000T in the standard of the world’s daily volume of
foreign exchange
Current Foreign Exchange Transaction System
Expensive transfer costs and a lot of time are consumed during
the wire transfer.
Google Ripple Coin innovatively solved this problem.
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Merits of Google Ripple Payment System
Possible to track down the real-time transaction statement
Easy to make purchases by interlocking
with Google Ripple Account
Able to use any money
No additional costs to
payments
Fast payment
Fees
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Why Google Ripple Coin XRP will be rising in the future?
 Inflow of Chinese Capital(China Money)
 Google Ripple Coin(XRP) is devalued compared to Bitcoin(BTC)
 Rise in the exchange volume of Google Ripple Coin as the number of users for Google
Ripple Visa Card increased
 0.00001 XRP dissipated at ever transaction
 Establish a worldwide network at GoogleLipple Labs by recruiting financial specialists as
well as economic specialists
 There is no inflation because the total quantity did not rise.
 Value of money with a limited quantity will rise much easier than money with fluid quantity..
 Simply log in to Google Ripple Gateway to exchange foreign currency, instead of going
through a bank or the country of foreign currency.
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Why Bill gates Believes 2016 Will Be the Year of Financial Inclusion
More than 2.5 billion people around the world don’t have access to formal financial services.
Jan 19, 2016 | Alec Liu
That’s a big problem. When you’re not connected to the formal economy, you don’t have a good way to save and protect your assets, make
payments and most importantly, plan and build toward a better future for you and your family.
In fact, having access to finance, according to the Bill and Melinda Gates Foundation, is critical to empowering poor households to take
advantage of opportunities that could lift them out of poverty.
But if there’s anything we’ve learned about Bill Gates, it’s that he loves going after big problems, especially ones that will have an equally big
impact. Three years ago, his foundation made reaching the unbanked part of its core strategy.
And according to Gates in an interview with Live Mint in India last month, 2016 will be the year offinancial inclusion—thanks to a convergence of
digital payment technologies and smart regulations in developing economies.
Because the only way to connect the world is to have a truly digital financial system—much like how we democratized access to information with
the Internet.
Gates, in a Backchannel interview last year, cited the significance of distributed financial technologies, specifically mentioning Bitcoin and Ripple
as potential models:
There’s a lot that Bitcoin or Ripple and variants can do to make moving money between countries easier and getting fees down pretty
dramatically. But Bitcoin won’t be the dominant system. When you talk about a domestic economy, [you must have]the idea of attributed
transactions, where if you sent it to the wrong person you can actually get the transaction reversed. [And a traditional system]doesn’t have this
huge fluctuation where the value of your account is going up and down by a factor of two. We need things that draw on the revolution of
Ripplcoinor Bitcoin, but that is not good enough.
The Gates Foundation has been investigating such new technologies and digital payment systems with its Level One Project, recently publishing a
comprehensive report on their lessons learned.
To get a sense of how the foundation approaches the problem of financial inclusion, be sure to check out our in-depth interview with Kosta Peric,
deputy director for the Financial Services for the Poor at the Bill & Melinda Gates Foundation. A long time SWIFT veteran, Kosta is a co-founder
of Innotribe and is also credited with coining the term “Fin Tech.”
https://ripple.com/insights/why-bill-gates-believes-2016-will-be-the-year-of-financial-inclusion/
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Ripple’s Deal With Japanese Multinational Opens Door for Rapid Asian Expansion
Ripple announced its deal with SBI Holdings late Thursday night—which, frankly, has all of us here very, very excited. We’ve been getting a tremendous amount of interest in
Ripple from Asia.
But being that Ripple is based predominantly in San Francisco—although we have official presences in New York and London as well as a rapidly expanding office in Sydney—
it’s been a challenge meeting that demand.
This latest deal with SBI Holdings will go a long way toward alleviating some of that pent up pressure. SBI is a big deal in Japan. The $28 billion financial services conglomerate
has over 5,000 employees with offices in 20 countries. But what’s key is SBI’s regional influence.
As part of the deal, we’ll see the formation of SBI Ripple Asia, a new joint venture that will service not only Japan but also China, Taiwan, South Korea and ASEAN countries.
(Ripple APAC, based in Sydney, will continue to service Australia, New Zealand, Singapore, India and the Middle East.)
As we’ve reported in the past, the ASEAN region could best Europe’s economic output in as little as a decade.
In ASEAN alone, SBI holds stakes in 10 financial institutions. The idea is that we’ll be able to hit the ground running with a turnkey distribution network for Ripple Connect,
Ripple’s enterprise-grade settlement solution.
You can check out a snapshot of SBI Group’s portfolio companies here.
SBI Ripple Asia will build out its own engineering team and sales force to meet integration requirements and Ripple’s growing regional demand.
Also of note, SBI has a proven track record with this sort of thing, having in the past worked with E-LOAN, E*TRADE, Morningstar and Sumitomo Mitsui Trust Bank to enable
similar kinds of international expansions.
For Ripple, the opportunity is enormous as Asia becomes an increasingly major player on the world stage.
About the deal, SBI President and CEO Yoshitaka Kitao had this to say:
“Surveying the market, Ripple was the only company that has delivered battle-tested enterprise solutions and global bank customer traction, including commercial deals with
top banks already signed in Asia Pacific. Distributed financial technology is undoubtedly transforming financial infrastructure and we’re excited to drive its adoption throughout
Asia.”
But my favorite tidbit about this whole thing is a tiny detail way at the end—the kicker, if you will.
As part of the agreement, Ripple and SBI are exploring ways to list XRP through SBI’s various online brokerage properties.
Among those properties is Japan’s leading online securities trading platform—which recently reached a milestone of 3.5 million accounts.
So like I said—very, very exciting times.
https://ripple.com/insights/ripples-deal-with-japanese-multinational-opens-door-for-rapid-asian-expansion/
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