Reservoir, an XRP service app by Secure Block Chains (SBC) is on the way and currently in private test mode. The app will provide a safe and secure way to reserve Ripple (XRP) for long-term holding. The system simplifies the process of saving XRP in escrow until it reaches maturity. Escrow removes the XRP transacted from the circulating supply which impacts the overall total XRP available for anyone to purchase.
Some features include the ability to generate personal wallet, deposit XRP, save XRP in escrow directly on the XRP ledger, keep track of transaction history and details, also database storage is encrypted, and all outbound and inbound traffic are encrypted.
Reported here in October was news of the coming launch of Ripple Exchange LLC but the company website then went offline.
Co-founder Chris Henninghan addressed the issue with the following statement:
My name is Chris Henninghan, a co-founder and one of the lead engineers for Secure Block Chains, LLC. You may remember that we were first Ripple Exchange and that we had a launch date set for an exchange application that would allow users to directly exchange USD to XRP and vice versa. We decided to rebrand and offer a wider range of products that our company would represent. First, an escrow application that allows you to store your XRP for a set period of time, removing the currency from the total circulating supply, next, a crowdfunding platform built using XRP to fund meaningful projects, and last, but certainly not least a P2P exchange that simplifies the process of acquiring XRP by removing the common, unnecessary steps that end up costing the user more money.
Through our rebranding, we have also relocated our site and have full confidence in the legal counsel we have received to date that has helped us file all the necessary paperwork with all the government agencies required to operate this company legally and to support the applications we are developing. It’s an exciting time, and we are just getting started. We hope that you will take this journey with us as we try to bring the community to the best possible applications that we can.