One of the most important things that comes up in a discussion about cryptocurrencies is the security related to them. Any time that you are talking about money and the transactions that are happening with it, security is going to be the main feature on the list of concerns from investors. Big companies that move money all over the world on a daily basis, are still not 100% sure about the crypto marketplace. Of course, there is a threat to the banking systems as the new technology offers secure, fast transactions without the need for a payment processor.
Ripple Excites With Security
Ripple has been making the news recently and at the top of the is the advanced security features. Ripple has some of the tightest regulatory protocols that regulate who can access the server codes and when they are being audited. Full security of the funds that are being transferred is provided through a secure website which gives the commit ID of the repository.
Because most of the cryptocurrencies are in direct competition with banks around the world, those that can regulate and keep things secure are going to be the most popular. Ripple is an open-source transaction network and big banks are starting to see the value in what they offer.
Japan and China are On Board
Japan has been taking a lot of time on the side to make sure the central banks are thinking about the blockchain technology. During the G20 meeting earlier this month, regulations and other concerns about Ripple and other virtual currencies were discussed.
As soon as China gets a little more information regarding the regulation of Ripple, the country will be seriously looking into the blockchain technology. Ripple is set to have one of the biggest years for any cryptocurrency, but just like all of the other hype, there could be a downside to it that brings the cryptocurrency down.