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Modo's payment hub could decrease the number of people required to manage these anomalies by two orders of magnitude.
The report said Ripple is flexible enough to be integrated directly into a financial institution's payment hub or integrated into a third-party provider's platforms to which financial institution is already connected.
It could turn Telegram from a messaging app into a platform that hosts internet-based content which could, in theory, operate micro-paywalls that let users unlock news or subscriptions for small amounts of crypto payment, while there's also the potential to become a major payment hub.
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Their proposed solution consists of a series of interconnected payment hubs, addressing the current issues facing 2 party payment channel providers like Lightning and Raiden Network.
In what has been called a "payments revolution," the hope is that data analytics will be at the core of providing payment hubs to decrease risks and costs in operational activity.
By utilizing payment hubs, the network is able to accommodate millions of users and allow those users to all interact with one another with their allocated funds while significantly reducing transaction costs, allowing micro payments and increasing the transparency of using cryptocurrency in the market without locking up user's collateral.
"Here we are with two back-to-back announcements, first with Braintree and and now the payments hub," he said.
We reported on Modo's recent funding round and also their Digital Payments Hub back in February.
Thus the Digital Payments Hub is often referred to by Modo as being "COIN® Operated" which is a clever and branded way to signify their product in partnerships.
A lot has changed for the Richardson, TX startup since those salad days and they quietly launched a very interesting product last fall called their Digital Payments Hub.
But beyond integration, Modo CEO Bruce Parker indicates that the Modo payments hub also stands to enable some other efficiencies resulting in cost savings for companies that use it.
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