Hi Raphius. I understand your confusion but the XRP Ledger is not the same thing as a company’s General Ledger
The XRP Ledger is s fundamental part of the Blockchain decentralised technology. It effectively keeps a record of payment transactions in potentially hundreds of computers. All of these blockchain ledgers have to agree and validate that a particular transaction is valid and the parties involved are legitimate. It’s this security and integrity feature of blockchain transactions that’s the reason for its wide usage. It’s like a very big audit log with lots of copies.
An organisation’s General Ledger is its set of books. It holds the chart of accounts, account balances and all of the journal entries, links with the Accounts Payable and Accounts Receivable modules to generate invoices and receive money. This is what Spenda links to to reconcile supplier and customer orders and receipts.
So Spenda reconciles the amount to be paid then sends the money to XRP and tells XRP where to send it. The receiver, wherever they are in the world, gets the payment in seconds. And it’s all secure.
Hope this helps.
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