Speaking in a session titled “402 – Payment Required”, Whippo noted that current payment networks “weren’t designed for AI agents, machine-to-machine transactions, or high-frequency microtransactions”.

As the internet evolves toward autonomous systems, he argued, the financial infrastructure must evolve with it. Whippo highlighted next-generation payment architectures, from open web standards to blockchain solutions and micropayment frameworks, that could enable seamless value transfer in the digital economy.

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He also pointed to technical challenges and emerging standards that may reshape how machines, agents, and applications exchange value at internet scale.

There is a growing notion that the integration of stablecoins with AI is emerging as the next generation of payments infrastructure. On July 9, PFMCrypto, a company that runs cloud-based crypto mining using AI, teamed up with USDC
USDC


$1.00

Meanwhile, on May 7, Stripe introduced “Stablecoin Financial Accounts” alongside an AI-powered foundation model for payments. These new accounts, currently available in over 100 countries, let businesses hold and send stablecoins like USDC. At the same time, Stripe’s AI model helps optimize processes such as fraud detection and authorization rates.

The developers also noted that Coinbase

Established companies are indeed rolling out real-world crypto payment solutions. For instance, Coinbase recently launched Coinbase Business, a new account designed for small and medium-sized businesses. This account enables companies to send and receive cryptocurrency payments, manage their digital assets, and track their finances in one place.

The WeAreDevelopers World Congress is the largest annual event for developers, which covers various topics related to the future of technology. What is the focus of the 2025 conference? Read the full story.

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Ripple’s backstory just got a little twist. According to a set of emails from 2014, early notes on what became Ripple go as far back as 2004.

That’s four years before Satoshi Nakamoto put out the Bitcoin whitepaper. These emails, shared by XRP community figure SMOQE, feature comments from tech writer Reutzel Bailey and industry insider Jeffrey Cliff.

They hint that Ripple’s seed was planted long before anyone mined the very first bitcoin block in January 2009.

Email Exchange Raises Timeline Questions

In the 2014 thread, Bailey points out that Ryan Fugger first sketched out a payment system in 2004. Back then, it wasn’t meant to be a public, mined cryptocurrency.

It was called RipplePay, and it let folks move value without banks. Bailey says Chris Larsen later saw Bitcoin’s buzz and steered Ripple in a crypto direction.

Cliff jumps in to stress that Ripple’s idea “predates Bitcoin,” though he argues it wasn’t a “copycat math-based currency” riding on Bitcoin’s hype.

2014 E-mails confirm: “Ripple is older than Bitcoin.”

pic.twitter.com/9c8cOF4065

— SMQKE (@SMQKEDQG) June 24, 2025

RipplePay’s Early Vision

Based on reports, Fugger’s 2004 project aimed to speed up payments between trusted parties. It leaned on digital trust rather than mining. Transactions were approved by a small group of validators—not by open mining.

That setup made it fast, but also private. It wasn’t until 2011 that developers began talking about an open network, one anyone could join to validate deals, rather than a gated club.

Image: WazirX

XRP Ledger Emerges In 2012

In 2011, Jed McCaleb teamed up with Arthur Britto and David Schwartz to code what they called the XRP Ledger. They wanted a version of Bitcoin that skipped proof-of-work.

By 2012, Fugger passed the torch, and McCaleb, Larsen and others launched NewCoin. The name switched to OpenCoin in 2013, then to Ripple in 2015.

Based on the timeline, XRP the token went live in 2012—three years after Netflix hit 1 million subscribers in the US, and about 10 years before McCaleb sold his last coins in 2022.

Token Gifts And Executive Moves

When XRP started, its founders gifted 80 billion tokens to the company. McCaleb got 9.5 billion XRP of that stash. He agreed to sell his holdings bit by bit to avoid sudden market shocks.

His final XRP sales wrapped up in 2022. After exiting, he helped start Stellar. Larsen stayed on and today leads Ripple as its chairman.

Even though Bitcoin gets the credit as the first real cryptocurrency, Ripple actually laid the groundwork years earlier – at least according to the document — showing that the dream of sending value without a middleman was already taking shape.

Featured image from Unsplash, chart from TradingView

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