Financial Services, Internet, Other
OpenCoin developed the Ripple protocol, a virtual currency and distributed open source payments system.
Ripple is a distributed open source payments system and its native math-based virtual currency is called ripples (XRP). Ripple enables free payments to merchants, consumers and developers; the ability to pay in any currency; no chargebacks; and instant global payments. Ripple can accommodate any currency, including dollars, yen, euros, and even Bitcoin, making it the world’s first distributed currency exchange.