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India Dapp Fest 2019 – Ripple Confirms Dozens of Indian Banks On Board

I am surprised this didn’t get more coverage. Just 3 weeks ago India Dap Fest 2019 went down. Thanks to @bankxrp for coming out with the video last night (link below) we got CONFIRMATION that Ripple has indeed made their way into India and is currently working with dozens of banks. Sachin has stated that Ripple’s goal is to get every bank up and running on Xcurrent.

Here is the full video – you only want to focus on the first 20min or so: Sachin Maheshwari Software Integration Engineer from Ripple gives a great presentation on RippleNet and Ripple’s vision. Sachin also confirms with us that Ripple currently has dozens of banks on RippleNet using Xcurrent in India. Live with middle east India Koda Banks, exim bank dozens of banks in the middle east hobby bank

Key TakeAways:
– Banks don’t want to keep customer data on the ledger so what Ripple did was built out the ILP to provide an atomic settlement between the banks so the 2 banks can trust the transactions and the public data isn’t being moved across the public ledger.
– Nobody controls the ledger but everyone has a copy of the ledger
– The Middle East to India: Payments are flowing over RippleNet and it only takes 2-3 minutes
– Dozens of Indian Banks are on RippleNet
– Ripple wants to get all of India up and running on Xcurrent

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