"The predecessor to the Ripple payment protocol, Ripplepay, was first developed in 2004 by Ryan Fugger, a web developer in Vancouver, British Columbia. Fugger conceived of the idea after working on a local exchange trading system in Vancouver, and his intent was to create a monetary system that was decentralized and could effectively allow individuals and communities to create their own money. Fugger's first iteration of this system, RipplePay.com,debuted in 2005 as a financial service to provide secure payment options to members of an online community via a global network."

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"This led to the conception of a new system by Jed McCaleb of eDonkey network, which was designed and built by Arthur Britto and David Schwartz. In May 2011, they began developing a digital currency system in which transactions were verified by consensus among members of the network, rather than by the mining process used by bitcoin, which relies on blockchain ledgers."

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"In September 2012 the team co-founded the corporation OpenCoin, or OpenCoin Inc."

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"On September 26, 2013, OpenCoin Inc. changed its name to Ripple Labs Inc., with Chris Larsen remaining CEO."