[rampage101]

The crypto-currency Ripple is meant to replace the SWIFT banking system. Right now, transfers between banks are relatively expensive, think for example about a $25 Wire transfer fee.

Ripple would make it so these transactions between banks costs only a few cents, and can be verified easier. That being said, I am not a fan of investing in Ripple because they have no private wallets, and they have stolen from customers because of KYC/AML (Know your customer/Anti-Money Laundering).