Ripple, the company that created XRP, has been one of the big companies leading the pack in terms of development of blockchain-based products. The products are focused on providing solutions to the many financial institutions struggling with the shortcomings of the current system. Top among the issues facing banks is transaction processing speed. Ripple’s technology aims to tackle that problem, and that’s where XRP comes in.
Ripple’s customers especially the banks joining the RippleNet use XRP as the base currency for funds transfer. However, Ripple has made it clear that the company and the cryptocurrency are two separate entities. In fact, as the company’s Chief Market Strategist Cory Johnson puts it, XRP can survive just fine without Ripple. Cory was speaking in a recent Fintech Focus Podcast interview.