Diamond: Ripple-competitor collect 12 million US dollars

Baton system, a Blockchain-Start-up from California, has raised $ 12 million in Funding. The Ripple competitor is working on Blockchain solutions for banks.

By Phillip Horch
At the 2. September 2019BTC$9.829,79 2.75%part Facebook Twitter LinkedIn xing mail

Ripple has the self-stated goal is to revolutionise international money transfer with a Blockchain solution. The company has a lot of competition.

the Latest example is diamond Systems, a Start-up from California is here. How this manifests in a press release, concluded a recent Funding round. Here, diamond Systems was able to collect according to its own information of 12 million US dollars. One reads the Statement of Arjun Jayarum, CEO of the Start-ups, you feel directly to the application of Ripple recalls:

This Investment gives us the strategic support and the strength of our Bank, scale Bank-payment solution for the leading financial services providers [ ... ].

According to information from the Baton system has been working for 2016, a Blockchain-solution, the banks are not forcing them to change their existing System. Rather, the technological infrastructure will serve to transform existing systems. Accordingly, the solution of Baton system to ensure that different systems are interoperable:

Baton offers a customizable Software-Workflow Engine for coordination between multiple systems and institutions, the values, a quick, transparent and efficient processing due to the transfer of property, in property accounts, as well as an immediate reconciliation, and reporting for all Participating parties,

it is on the part of the company. How the Ripple-competitor, indicating further promote he is already 12 billion dollars in payments per day between market participants and Clearing Houses.

The competition of Ripple

Baton system is the only one by Far neither the largest competitor of Ripple. For example, the statement by Brad garlinghouse sparked, Ripple is the better Bitcoin, a debate in the crypto-scene. It turned out that the use cases of the two systems are quite different.

another competitor of Ripple that can lead back to the company to the greatest extent possible the self-imposed case of application, is the Society for Worldwide Interbank Financial Telecommunication (in short: SWIFT). Finally, the Blockchain-a Start-up, nothing more wants to revolutionize, as with its products xRapid and the XRP Token, the international payment traffic. SWIFT, however with an own System against Ripple: the Global-Payments-innovation-solution.

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