XRP is not the same as Ripple, although the coin is heavily associated with the company. In fact, Ripple owns a major part of XRP shares. As it stands, the company is deep in a legal battle with the US SEC over allegations of fraud, which is one of the reasons you may have seen it more often in the news recently. The other reason may be because it now belongs to a coalition (alongside Twitter and PayPal) requesting free and fair elections.
This article differentiates between these commonly mistaken entities and examines Ripple’s significance to the previously mentioned coalition.
What Is Ripple Currency?
To better understand Ripple currency, you need to realise that XRP, Ripple, and RippleNet are three different things.
What Is XRP?
XRP is a token used to transfer value (conduct transactions) across the Ripple network. This means only Ripple users can use this token.
What Is Ripple?
Ripple is a creation of Ripple Labs, Inc. It is a system for currency exchange, remittance, and real-time gross settlement.
What Is RippleNet?
RippleNet is an ecosystem made up of conventional payment providers that use products developed by Ripple. Examples of these providers include banks and money services.
Ripple and the Civic Alliance
In November 2020, Ripple joined fellow business giants Twitter and PayPal in the Civic Alliance. This is a nonprofit organization that solicits safe, healthy, and trusted elections while encouraging members to be civically engaged.
What Is the Civic Alliance?
The Civic Alliance (CA) is defined as a coalition of independent businesses working towards a future that allows everyone’s participation in shaping the country.
Goals of the CA
- To ensure that more eligible Americans participate in elections
- To ensure that there’s a conducive environment for voting during elections
- To ensure that election results are fair
Members of the CA
The Civic Alliance has a lot of members, numbering above 8000. Notable members include Ripple, PayPal, Twitter, Airbnb, and many more. These companies have good measures to ensure their employees vote during elections.
The Results of the 2020 Presidential Elections
The impacts of the Civic Alliance on the 2020 Presidential Elections were outright impressive!
- Record Voter Turnout: With over 8000 CA businesses encouraging their employees to vote in these elections, the voter turnout was massive.
- The defeat of Donald Trump was considered fair and was accepted by all. A key objective of the Civic Alliance was met.
- The Civic Alliance has itself confirmed the fairness of the results.
Benefits of Investing in XRP in 2021
If you intend to invest in Ripple, this year may be your best time to do so due to:
- Low price
- Excellent growth potential
- Its use as a token for extremely fast currency transfers on the Ripple Network ensures that it is always valuable
If you want to convert Ripple to Bitcoin or vice versa, you can use a respectable platform — Godex.
XRP has excellent uses in the American economy. The availability of ultra-quick solutions to payment issues cannot be ignored. It is obvious that the coin will remain in use for a long time.
Meanwhile, Ripple proved that it is dedicated to society’s growth through its contributions to the Civic Alliance. It is widely agreed among analysts and specialists that Ripple holds remarkable opportunities for new and existing users.