Ripple and Stablecoins: Building Banks of Tomorrow: Use Cases on International Remittance, Capital, and Money Markets, based on Swaps, Micropayments, Trade Finance, Islamic Finance, and Stablecoins
- Length: 186 pages
- Edition: 1
- Language: English
- Publisher: BPB Publications
- Publication Date: 2019-07-26
- ISBN-10: 9389423198
- ISBN-13: 9789389423198
- Sales Rank: #3201848 (See Top 100 Books)
Step-by-step guide to learn Ripple and explore $155 trillion+ market on international remittance
Key Features
- Know the inefficiencies of banks in international remittance and how Ripple can help
- Learn Ripple’s architecture and its product offerings such as xCurrent, xRapid, and xVia
- Acquire development skills on Ripple’s XRP ledger
- Understand and apply all the features of XRP ledger, such as direct and partial payments, escrows, checks, micropayments, and fees
- Learn to integrate XRP ledger with your traditional and Blockchain-based solution in trade finance, e-auction, money market, swaps, and more
- Learn operation of Stablecoins and how to implement them in Islamic banking
Know the wide spectrum of acceptance of Ripple across the globe
Description
The book is written for all IT professionals. It starts with the loopholes existing in the banking as well as payment industry, especially in the international remittance space, that have led to the invention of Bitcoin, a Blockchain product, followed by Ethereum, and finally Ripple. The book focuses on Ripple’s architecture and the different open source and enterprise products offered by Ripple, which have been widely adopted by the global payment industry today. For developers, there are adequate examples covering Ripple’s development APIs with different features such as instant payment, partial payment, escrow, checks, and micropayment. In later chapters, the book reviews different use cases on money market, e-auction, trade finance, swaps, etc., which will help you greatly to use Ripple and create new business models for international trading. In last few chapters, the book focuses on some of the leading Stablecoins such as JPM Coin, Libra, and Tether that are threatening to disrupt the finance industry. Use cases on tokenization and Stablecoins are discussed, especially in Islamic banking, which is an area less travelled by industry leaders. Finally, the book elaborates how Ripple has invaded the global market and lists the major players in this space so far.
What will you learn
By the end of the book, readers will have enough information on the right usage of Ripple to create value for their business models by eliminating age-old, lengthy, expensive payment channels with frictionless commerce for smoother execution of business processes. Business scenarios and solutions are provided, along with flowcharts, diagrams, and sample codes, that stakeholders can refer to and further enhance, as per their respective business need, and deploy them in live projects. The best and unique part of the book is that all the examples are written in Java, which most readers understand.
Who this book is for
Influencers, customers, decision makers, or developers — this book would be very useful for any reader who is eager to learn the industry’s vision on Ripple, or the use cases that can benefit from Ripple and crypto adoption, or wish to develop applications connected to the rippled server for upgrading their payment mechanism.
About the Author
Debajani Mohanty is a solution architect who has been involved in large-scale projects and has built many scalable enterprises for B2B and B2C products, right from conceptualization to marketing, in varied domains such as travel, e-governance, e-commerce, and BFSI.
Cover Page
Title Page
Copyright Page
About the Authors
Reviewer
Acknowledgements
Preface
Errata
Table of Contents
1. Evolution of Payment Systems
Babylon to Bitcoin: History of Payments
Evolution of banks
Pain points of modern banking system
Credibility of banks before and after 2007 crisis
Pre-Blockchain instant money transfer solutions
Bitcoin: The end of money
What criteria did Bitcoin lack for cross-border remittance?
Blockchain technology
Advantages of Blockchain
What is Ripple?
XRP
Advantages of Ripple
Disadvantages of Ripple
Why are banks still hesitant to adopt Ripple?
Misconceptions and unknown facts of Ripple
FinTechs on XRP ecosystem
Summary
Questions
Answers
References
Some other great resources for reference are as follows:
2. Ripple Architecture
How does international remittance work?
Intrabank money transfer
Interbank money transfer
International money transfer
SWIFT
SWIFT pain points
Introduction of SWIFT global payment innovation (gpi)
Liquidity issue with nostro accounts
Ripple: The new-age payment system
XRP Ledger
Consensus in XRP Ledger
Rippled Server
XRP
Drops
Issued currencies
Trust lines
Freezing issued currencies
RippleNet
xVia (standard access)
xCurrent (full access)
xRapid
xCurrent 4.0
Where else can Ripple be used?
SWIFT versus Ripple
Ripple and R3 Corda: The golden alliance
Distributed ledger
R3 Corda features
Summary
Questions
Answers
References
3. Development with RippleNet and XRP
Important factors of XRP account
Running a local rippled validating server
XRP Ledger endpoints
Retrieve account information (account_info)
Transfer XRPs between accounts (payment and submit)
Partial payment
Illegal Use Case
Legal Use Case
Cross-currency payments
Escrow payment
Checks
Payment channels
Create XRP account in production
Software wallet
Mobile wallet
Hardware wallet
How does one send XRPs?
How does one buy XRPs?
Summary
Questions
4. Use Case: Micropayments
Business scenario: Amazon and PayPal
Challenges in micropayments
Examples
IoT messaging
Charity
Services
Microfinance
Solution with Ripple/XRP
XRP for micropayments in news
Summary
References
5. Use Case: Instant Security Settlement in Stock Market
Instant settlement: The golden goose
Solution
Tokenization model
Ripple-based settlement
Forex rates
Advantages
Summary
References
6. Use Case: Settlement for Intraday Trading in Money Market
Capital market
Money market
Why is a strong money market important for intraday trading?
Challenges in money market
Business scenario
Complete Blockchain solution
Advantages
Summary
References
7. Use Case: Derivatives and Swaps
Types of derivatives
Forward
Warrants
Swaps
Challenges in derivatives
Solution
Advantages
Summary
8. Use Case: Trade Finance
What is trade finance?
Use Case: Petroleum trade
Mitigating manufacturing and payment risks
Getting business insured
Business process flow
Challenges in international trading
Parties
Currency
Payment
Solution
Advantages
Complete Blockchain solution
Live Use Case
Euro Exim Bank
Standard Chartered Bank
Summary
References
Some other great resources for reference are as follows:
9. Stablecoins
What are Stablecoins?
Types of Stablecoins
Backed by valuable collaterals
Backed by fiat currency
Backed by crypto currency
Backed by no collateral
Most popular Stablecoins of the world
Tether
JPM Coin: A Stablecoin by JPMorgan
Libra: A Stablecoin by Facebook
Stablecoin by Swiss Stock Exchange
Stablecoin by Binance
Ripple versus Stablecoins— who will win?
Pros of Ripple
Cons of Ripple
Pros of Stablecoins
Cons of Stablecoins
Summary
Questions
Answers
References
Some other great resources for reference are as follows:
10. Use Case: Islamic Banking
What is Islamic banking?
Crypto currencies in Islamic finance
Islamic version of crypto currency
Scenario: Gold tokenization
Data
System architecture diagram
Transactions on Ledger
Advantages
Summary
References
11. Banks of Tomorrow
Biggest banks of the world
Live use cases: Continents and countries
North America
South America
Europe
Oceania
Asia
Crypto ban in India!
Conclusion
Summary
References
Some other great resources for reference are as follows:
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