Focus on the banking market

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However, the team wanted ripple's transaction confirmation speed to be much faster than bitcoin's  around the same time, chris larsen joined the development team, who later achieved considerable heights and became the official director of ripple labs

The history of ripple's creation says that after some time, in , an additional subsidiary, opencoins, was created, which worked in order to optimize the payment system  but a year later it was renamed ripple labs.

During the rebranding, the former team  to the mobile number list for was completely disbanded, and larsen, who became the new director of the company, significantly changed all the priorities of the company  since then, the company's activities have focused primarily on banking companies (see do banks need blockchain? )




Thanks to the efforts of larsen, already in  the company received the first results, which could not but rejoice  financial organizations really began to work with the organization  and the first bank to sign a formal agreement with the company was the german fidor

Gradually, other financial companies that operate in the financial sector began to join the company  and the next one to join the ranks of ripple was western union  it also attracted the banking conglomerates commonwealth bank of australia  experts believe.