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    Home Unlabelled Ripple Daily Discussion Thread 07/24/21 [Join FlareXRP Discord] - https://discord.gg/FlareXRP

    Ripple Daily Discussion Thread 07/24/21 [Join FlareXRP Discord] - https://discord.gg/FlareXRP

    July 23, 2021

    Ripple Daily Discussion Thread 07/24/21 [Join FlareXRP Discord] - https://discord.gg/FlareXRP

    Daily Discussion Thread 07/24/21 [Join FlareXRP Discord] - https://discord.gg/FlareXRP

    Posted: 23 Jul 2021 09:00 PM PDT

    Hello! Welcome to our daily discussion thread.

    Discuss anything related to XRP, Flare Network, and Flare Finance.

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    Read r/Ripple sub rules before posting and check out the thread containing helpful links: https://redd.it/7l94ng

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    How does Ripple prevent asset duplication/fraud?

    Posted: 23 Jul 2021 05:40 PM PDT

    I've looked around the internet but I guess my searching skills are not as good as others.

    Since the Ripple network is used to purchase digital representations of physical currencies, how does the Ripple network prevent a seller from selling the same physical asset, say gold or USD, multiple times to multiple different people or even multiple times to the same person?

    I do not hold any crypto currencies at the moment but purely for clarifying my question id like to reference another currency. As an example it is part of the Bitcoin protocol that a finite number of tokens exist. More of them cannot be printed into existence. Same thing with XRP, there are a finite number and new ones cannot be printed or 1 XRP sold twice to two different people (who then is the real owner?). The question I have is when that virtual network where items are provably finite contacts the physical world. If a bank truly posses 1oz of gold and sells it on the Ripple network. How does the virtual world prevent them from claiming they have 2oz of gold and selling 1oz two times to two different people? That same physical 1oz has now been virtually duplicated and fraud committed. Which of those two people actually owns that single 1oz of gold?

    Thanks for your time in clarifying/pointing me to the clarifying resource.

    submitted by /u/supersquirel500
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