Genuine question - how does Oxy differ to Ripple, in terms of backend/transactional platform? Obviously Ripple is years ahead in terms of development and real world testing, just wondering if Oxy is effectively the same thing, just newer or if it has any advantages?
As I understand it XRP is primarily for interbank or business to bank transfers, to reduce fees, free up money stuck in transactions, and speed up the system.
Oxy is designed specifically for consumers, using your bank as an gateway for fiat to crypto purchases in app. The idea being to make the entry into crypto easier. The app will have wallets for multiple coins and will be able to send and receive those coins via simple usernames and/or acct #s. For direct p2p transactions it has QR codes to scan.
They aren't really in competition in any meaningful way.