RippleNet is a network of institutional payment-providers such as banks and money services businesses that use solutions developed by Ripple to provide a frictionless experience to send money globally.
Let’s give an example: Firstly, Mr. Jones lives in New York and has a chocolate box he doesn’t need. He is very interested to watch a baseball game, but doesn’t have a ticket. Secondly, Ms. Smith lives in Los Angeles and has a rare stamp she would like to give away for a chocolate box. Lastly, we have Mr. Brown who lives in Alaska and is looking very much for a rare stamp, and he a ticket for a baseball game in New York.
In our current system, these people would probably never find each other and remain with their ‘not valuable’ valuables.
But in Ripple world they could say: “Hey, I have chocolate, I want baseball” and the system will look for a shortest and cheapest combination to make it happen.
Moreover, the platform allows to make payments in any currency including Bitcoin and have a minimal internal transaction commission of $0.00001, yes that’s the right amount of zeros. The only reason it’s not free is to prevent DDos attacks.