OpenCoin is the company developing the Ripple protocol. 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.

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