An offshoot of the Central Bank of Netherlands, National Forum on the Payment System has cited Ripple has one of the tangible innovations that “can increase the efficiency of the payment system, through greater speed, greater convenience or cost savings.”
In a Research tagged “Annex To The Vision On Innovations In The Payment System,” the forum revealed that “the Ripple network protocol is an example of an innovation that could contribute to that change by enabling banks to use this infrastructure to facilitate real-time payments.”
The Netherlands Central Bank, called De Nederlandsche Bank (DNB), touted Ripple blockchain technology as a fast process that takes place every 2-5 seconds, affirming that “Ripple is a good deal faster than Bitcoin and requires less computer capacity”.
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