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the company does not seek to undermine the role of centralised institutions . Instead , Ripple uses its technology to innovate from within and provides tech alternatives in a bid to encourage improved services . Furthermore , it is willing to seek out partnerships with other FinTechs in order to help shape the new industry it wishes to see , such as its 2019 collaboration with Finastra .
Ethereum Taking the concept of Bitcoin and democratising the back end technology underpinning it , Ethereum is an open source platform for creating cryptocurrencies and controlling digital value on a global scale . Calling itself “ programmable blockchain ”,
Ethereum ’ s technology enables individuals and enterprises to transfer cryptocurrency anywhere in the world using accessible yet highly secure applications . “ Ethereum is open access to digital money and datafriendly services for everyone – no matter your background or location ,” says the company website , which also lists the following benefits of the platform :
• A democratised banking experience ( users only require a digital wallet to use it )
• Enhanced user privacy
• Greater commerce assurance
• A P2P network which circumvents the need for third-parties
OCTOBER 2020