Which product will BankDhofar choose after joining RippleNet

It is confirmed that BankDhofar joined RippleNet on. But why did BankDhofar take this move? And which product it will use after joining it?

The bank said with ripple's block chain technology payments, customers can remit overseas with a short time and low cost (almost zero). However, they revealed nothing about which product they will use? But we can predict that by analyzing the three types of cross-border transactions of ripple: xCurrent, xRapid, xVia.

XCurrent is a transshipment transaction from the intermediary bank, which provides cross-border transactions between Banks and Banks. RippleNet set up a distributed ledger between Banks. Whenever bank A transfers to bank B, it can be liquidated by bank C. The advantage of this model is fast speed and low cost. The disadvantage is that all three Banks need to join the Ripple network and use the same set of distributed books.

XRapid, to complete the middle transaction with XRP. This mode will replace the payment amount with XRP, and then send it to the recipient's bank. The bank converts the received XRP into the corresponding currency and pays the corresponding recipient. This mode is more flexible than xCurrent. The only condition is the bank in the receiving bank can accept XRP and replace it with the corresponding legal currency.

xVia, to complete the middle transaction with the gateway as a transit. A gateway is an intermediary for the ripple payment system (similar to a bank), The payer may first transfer any currency to the gateway, and then the gateway will convert the currency into other currencies and pay the payee. This mode is the most flexible, and neither the payer nor the receiver need to join the Ripple network, just trust the gateway.

Which product do you think BankDhofar will choose after analyzing the three types of products?

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