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  1. 56 points

    Ripple - South Korea

    Previous Work: https://www.xrpchat.com/topic/7598-ripplegates-foundationindia/?tab=comments#comment-99889 https://www.xrpchat.com/topic/9189-ripple-india/ https://www.xrpchat.com/topic/9760-ripple-singapore-bahrain-the-uae/?tab=comments#comment-97143 ***THIS IS ALL SPECULATION*** The Korean Government Similar to other Asian Pacific countries, South Korea is being proactive on adopting financial technology. As a society, Korea is trending towards being cashless with credit and bank cards becoming the primary means of conducting trade. http://www.koreatimes.co.kr/www/news/biz/2016/03/488_199146.html Koreans themselves have begun to accept the notion of carrying less cash. https://www.electronicproducts.com/Mobile/Devices/South_Korea_plans_to_become_a_cashless_society_by_2020.aspx And the Central Bank of Korea has also set a deadline in which they want to demonetize trade transactions by 2020. http://www.livebitcoinnews.com/south-koreas-cashless-push-will-see-coins-removed-circulation-2020/ Ultimately the removal of coins will cause a disruption on retail prices for goods and services within the country. The Central Bank of South Korea is facilitating these changes by instructing consumers to deposit loose change onto the national T-Money cards. The T-Money card can be used for all forms of transportation including taxi rides, and in several thousand convenience stores in the country, as a payment option. And in an added effort, "loose change" in trade transactions will be able to automatically be deposited into the individual's bank account. https://www.electronicproducts.com/Mobile/Devices/South_Korea_plans_to_become_a_cashless_society_by_2020.aspx http://www.livebitcoinnews.com/south-koreas-cashless-push-will-see-coins-removed-circulation-2020/ http://www.koreatimes.co.kr/www/news/biz/2016/03/488_199146.html To take even further, the South Korea’s Financial Services Commission (KFSC) publicly announced it's objective to have a national digital currency using blockchain technology by 2020. https://bravenewcoin.com/news/south-korea-plans-national-digital-currency-using-a-blockchain/ Within the announcement, a consortium dealing blockchain technology was said to be forming by FI's to jointly research and run pilots projects. https://bravenewcoin.com/news/south-korea-plans-national-digital-currency-using-a-blockchain/ https://www.cryptocoinsnews.com/south-korea-announces-digital-currency-system-expansion-boost-fintech/ http://www.businesskorea.co.kr/english/news/money/16703-blackchain-movement-blockchain-consortium-launched-south-korea While at the same time, the Bank of Korea released a report on FinTech Companies shaping the financial industry stating that, https://www.cryptocoinsnews.com/bank-korea-fintech-companies-will-reshape-financial-industry/ Shortly after, the Korean consortium publicly announced it's formation stating that 21 financial investment companies and five blockchain technology firms had signed a memorandum-of-understanding (MoU) to develop distributed ledger solutions in blockchain solutions. With a given road-map of the consortium's motives, https://www.cryptocoinsnews.com/south-korea-sees-first-blockchain-consortium/ Ultimately the action being taken within South Korea was mirroring the movements being undergone by their neighbors across the sea in Japan. With Ripple partners coming into play...... Initially details on the consortium weren't disclosed but shortly after the announcement of it's formation, a partnership involving the KFSC was reached. The Monetary Authority of Singapore (MAS) agreed on cooperation over exploring joint innovation projects with a focus on big data and mobile payments in FinTech. http://www.mas.gov.sg/News-and-Publications/Media-Releases/2016/Singapore-and-South-Korea-sign-cooperation-agreement-in-FinTech.aspx https://www.cryptocoinsnews.com/singapore-south-korea-come-together-fintech/ On top of a collaboration with MAS, the government of South Korea was in talks with Indonesian government about joining forces in an attempt to boost the FinTech industry to help the burgeoning sector in both countries. https://www.cryptocoinsnews.com/south-korea-indonesia-considering-fintech-collaboration/ For those that are unaware, Ripple has previously met with the Central Bank of Indonesia. Months later, the Korean Central Bank announced plans to execute a R3 consortium proof-of-concept blockchain technology project. https://www.cryptocoinsnews.com/korean-central-bank-deploy-r3s-blockchain-proof-concept/ http://ftreporter.com/korean-central-bank-to-use-r3-blockchain-proof-of-concept/ https://www.econotimes.com/Exclusive-Bank-of-Korea-R3-consortium-to-carry-out-blockchain-project-549053 So to reiterate, the Korean government came into agreement with MAS on cooperating in the FinTech space and shortly after the Korean Central Bank decided to proceed with a PoC consortium by R3 similar to Project Ubin in Singapore...... Along with the previous development, Hana Financial Group became the first Korean financial institution to take part in the R3 CEV project. http://pulsenews.co.kr/view.php?sc=30800020&year=2016&no=281535 Remember that MAS wants to expand it's network to other central bank for cross-border transactions using a Ripple blockchain prototype......... SBI Ripple Asia Just this past September, SBI Ripple Asia announced that it would be testing a blockchain based funds transfer system by the end of this year between Japanese and South Korean banks. SBI Ripple and it's new public partner, DAYLI Intelligence, will work together to http://blocktribune.com/sbi-ripple-asia-trial-cross-border-blockchain-funds-transfers/ https://www.coindesk.com/sbi-ripple-asia-to-test-bank-transfers-between-japan-and-south-korea/ And besides cooperating in this venture with SBI Ripple Asia, DAYLI Intelligence is involved in another interesting project. http://pulsenews.co.kr/view.php?year=2017&no=551655 All three parties are in cooperation developing the "WeBee" coin with the intention of the digital coin operating on a blockchain. (what will be used for trade remittances?......) http://pulsenews.co.kr/view.php?year=2017&no=551655 https://financefeeds.com/south-korean-woori-bank-develop-digital-coins/ Finally, SBI Ripple Asia is involved with another Korean company called Coinplug. https://www.coindesk.com/sbi-reveals-joint-blockchain-remittance-venture-south-korean-startup/ With the venture expected to launch its remittance service later this year...... And just like DAYLI Intelligence, Coinplug has involved itself in another interesting project. Coinplug with KB Kookmin are going to provide cross-border foreign exchange services that utilize blockchain technology. http://themerkle.com/south-koreas-bank-developing-blockchain-exchange/ https://www.coindesk.com/korean-bank-developing-blockchain-solution-foreign-exchange/ And KB Kookim are also releasing a blockchain based mobile payment service for KB Kookim Card..... http://pulsenews.co.kr/view.php?no=741187&year=2016 Kakao Unlike most attempts to tie links with Ripple by addressing potential connections to Alibaba (which I think is a thing), my focus is solely on KakaoPay/KakaoTalk. KakaoTalk is a mobile messenger while KakaoPay is a mobile payment system built on top of KakaoTalk. The development of KakaoPay was thru Kakao and LG CNS https://www.lgcns.com/Views/Solution/KakaoPay_En Kakao had also partnered with the KFTC in the past for integrating a mobile payment platform to the Korean financial system. https://techcrunch.com/2014/11/12/korean-internet-giant-daum-kakao-launches-its-own-mobile-payment-platform/ Remember that. LG CNS themselves have been adopting blockchain technology to improve their services, most notably with R3. https://www.coindesk.com/electronics-giant-lg-testing-r3s-distributed-ledger-software/ https://www.cryptocoinsnews.com/lg-launches-corda-based-blockchain-platform-south-korea/ And there is another connection. http://www.techforkorea.com/2017/03/14/kakaopay-launches-new-service-transfer-to-bank/ What will be used to settle remittances between a Hana Money and KakaoMoney exchange?......... The same Hana Financial that had entered R3's CEV project mentioned earlier. And with the the government of Korea driving blockchain adoption on the Korean banks, there has been some interesting developments. With, http://mengnews.joins.com/view.aspx?aId=3037416 http://www.theasianbanker.com/press-releases/korean-banks-turn-to-blockchain-to-streamline-service The winner was supposedly chosen last month, with the system built being ready for use by banks in April..... (all while SBI Ripple Asia/R3 in Korea are becoming increasingly active) To come into to full circle, LG CNS has ~32% ownership with Seoul Metropolitan City Government (~35%) on Korea Smart Card Co. What is special about Korea Smart Card Co.? The T-Money system was implemented and is operated by Korea Smart Card..... https://en.wikipedia.org/wiki/T-money The same T-Money mentioned earlier in the post that will be used to transmit loose change from trade transactions to the individual's bank account. In a financial environment that will be riddled with many different types of digital currencies, what method will be used to settle remittances?..... I mention Seoul Metroplitan City Government because of one partner ship it is in. https://www.crowdfundinsider.com/2017/09/121430-singapore-korea-fintech-collaboration-marvelstone-group-seoul-metropolitan-sign-mou/ A group that has the support of none other than MAS.... http://www.mas.gov.sg/News-and-Publications/Speeches-and-Monetary-Policy-Statements/Speeches/2016/Speech-at-the-Launch-of-Lattice80.aspx So why do I persist on these R3 connections? It's simple. SBI Group became the largest shareholder of R3 over the summer while we know SBI's intentions with XRP. In an interview with Kitao, he stated that https://ripple.com/insights/sbi-holdings-views-on-blockchain-and-xrp-an-interview-with-yoshitaka-kitao/ So how does the R3 and Ripple relationship work? Last month Data Dimension had a presentation a slide that is rather revealing on the partnership. https://www.brighttalk.com/webcast/15381/262389?utm_campaign=knowledge-feed&utm_source=brighttalk-portal&utm_medium=web Both work in unison with Corda being applied for smart contracts while Ripple is meant for the payments segment which might explain why R3 wanted that XRP so bad............
  2. 51 points
    Starting today, Ripple will offer a unique reward for financial institutions that are the first in their markets to process and promote commercial payments on RippleNet. The reward will come in the form of rebates through the new RippleNet Accelerator Program. https://ripple.com/insights/ripple-rolls-300m-ripplenet-accelerator-program-grow-volume-xrp-utility/
  3. 48 points
  4. 32 points
    This blog entry is my pre-SWELL round-up of significant crypto news items affecting XRP and Ripple. I discuss a variety of Ripple and XRP-related items, and also cover the Bitcoin fork(s) news. As always, please leave any feedback re: my blog below, and thank you sincerely for sharing my blog with others. Hope you enjoy & good luck to the Ripple team preparing for the big day tomorrow! My blog announcements on other media: Twitter Reddit Bitcointalk - alt coin sub forum Bitcointalk - XRP speculation thread
  5. 31 points

    R3 v. Ripple Lawsuit Dismissed

    Brad Garlinghouse just tweeted that the R3 lawsuit against Ripple has been dismissed. Congratulations, Ripple!
  6. 28 points
    https://www.coindesk.com/100-counting-ripple-adds-new-members-distributed-ledger-network/?utm_content=bufferf2a4b&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer XRP adopted!
  7. 27 points


    THE DAY HAS FINALLY COME In addition to announcing new bank partners, Ripple has confirmed the first institutional use of XRP to provide liquidity between the U.S. and Mexico. https://ripple.com/insights/ripplenet-grows-to-over-100-financial-institutions/
  8. 26 points
    Some here were waiting for announcements... Ripple has not disappointed - a partnership with "the foundation" is massive news.
  9. 23 points
  10. 23 points

    R3 v. Ripple Lawsuit Dismissed

    Wow, that was fast. Ripple can handle transactions in seconds.... lawsuits too!
  11. 23 points
    I focus on XRP in this blog entry, and highlight the news of the first production usage of xRapid - Ripple's solution that uses XRP for sourcing liquidity. In the last week, I was struck by the scale of the latest good news: the announcement of xRapid's first usage before SWELL. The term "tipping point" has been debated previously for XRP's use case, and now those discussions will have a whole new flavor... Thank you for reading & hope you enjoy - as always, feel free to share on any other media. My other blog announcements: Twitter Reddit Bitcointalk - alt coin sub forum Bitcointalk - XRP speculation thread
  12. 22 points

    R3 v. Ripple Lawsuit Dismissed

    Judge probably owns XRP himself, behind the sheets, he went like " yo brad, when is this shizz hittin 30 cents again?"
  13. 21 points
    Date published: oct.11, 2017 On August 11, SBI Holdings Co., Ltd. and SBI Ripple Asia Co., Ltd. launched the "Beyond Blockchain" technical program (hereinafter referred to as "BBC Technical Program") and announced it. The BBC Technical Program aims to train engineers in block chain related technology for enterprise use. In this background, because the opportunities to acquire knowledge by the development vendor side are limited or the hurdle of acquiring skills by individuals is high, there are cases in which the virtual currency and DLT are confused, so the technology based on the correct knowledge We will train people and work with 24 major vendor companies in Japan and overseas. According to Takashi Okita, President and Representative Director of SBI Ripple Asia, explaining the use of block chain / DLT (Distributed Bookkeeping Technology) for remittance technology and the purpose of the BBC Technical Program starting this month, We are finding the use of DLT which is becoming increasingly popular not only in the banking industry but also in various fields such as securities, electricity, legal affairs, accounting, real estate, point program, mileage and so on. In addition, by utilizing the technology "Interledger Protocol" developed by Ripple (Ripple) Inc. as "IoV (Internet of value)", it is possible not only to settle banks between bank ledgers but also between Paypal and Alipay , And settlement between virtual currencies can be done efficiently. At present, the remittance system is monopolized by SWIFT, which has been used conventionally, and international remittance is costly such as time and fee. In order to make this more efficient, we are focusing on remittances between banks, in particular remittances internationally. Speaking of international remittances, we also announced that we had sent ripple solution xRapid on 10th and remitted between US and Mexico. Ripple has also announced that more than 100 banks participating in RippleNet have been announced, including SBI Ripple Asia's affiliated financial institutions. Recently Ripple's base as a base for advance to Singapore and India, etc. are also being promoted by Ripple, and according to Mr. Okita, SBI Ripple Asia has adopted ASEAN (Indonesia, Cambodia , Thailand, the Philippines, Brunei, Vietnam, Malaysia, Myanmar, Laos) in order to promote international remittance solutions using DLT. In addition, SBI Ripple Asia partnered with DAYLI Intelligence (Daily Intelligence) under the umbrella of Korea leading YelloMobile (Yellow Mobile) in September this year and is aiming to provide remittance service to financial institutions using DLT. Many block chain companies are developing the platform of DLT, for example, Corda of R3 and Hyper Ledger Fabric are mainly mentioned, but SBI Ripple Asia collaborates with such a DLT platform as a cross-cutting effort It is said to go. Also expectations will be raised that engineers familiar with advanced technologies such as DLT will be produced by the BBC Technical Program that was established this time. Future trends of SBI Ripple Asia will draw attention. https://apptimes.net/archives/8344
  14. 20 points

    Meet Bill - He's SWELL ! ;)

    Hope this makes everyone smile, and lightens all the $ stresses
  15. 19 points
    Maybe they'll announce something "Steve Jobs" style... "Oh, but there's one more thing..." And then visa, PayPal, alipay announce they start using xrp "right now" and the principality of Monaco drops the euro in favor of XRP.
  16. 18 points
    Oh, and the news was just presented at Sibos as well, with a big-*** Ripple logo of course. -Edit: Oh @Duke67 noticed it first, but here's a nice picture anyway :).
  17. 16 points
    http://observer.com/2017/10/toronto-fintech-conferences-swift-swell-ripple/ Cool article! Dont have much time for quotes, I ‘ m at work, but nice to read!
  18. 16 points

    Photos from SWELL

    I feel like a grumpy old man whenever I post something on this website but here it goes… Are you all out of your minds? Where do I begin?? Do you honestly think that attendees who are coming to this conference give a flying **** what the venue looks like? Isn’t this one of those trendy, restored / shabby chic kind of places anyway? Probably the same types of places that IB bros are throwing parties at in midtown, where hedge funds are buying property, or where tech companies are investing in new headquarters in NYC. In fact…wait…I just overheard a conversation now, this is how it went. Industry Insider #1: “Ben Bernanke has had a lot of good points during this discussion. What do you think, Industry Insider #2?” Industry Insider #2: “I’m not sure, Industry Insider #1. Although he’s had some strong comments, the locale of this venue is really a drag. I’d rather there be a bright stage with SWELL written in about 50 different languages and sitting a few hundred feet away from the stage.” Industry Insider #1: “You’re right, Industry Insider #2. I’m a big dummy. Forget the information and the discussion. Let’s go take our money elsewhere to an antiquated transaction infrastructure controlled by a minority cohort of financial institutions.” You guys may be on to something… Secondly, I wish I could share with you people the number of roadshows where private companies have shown up to discuss new rounds of financing, initial investments, etc….THAT WERE HELD IN CRAPPY HOTEL AIRPORTS. You think the first thing my boss told me before I went there was “Hey, no matter what happens, if the venue smells like a damp, 30-yr old conference room, ignore what they say and just get the hell out of there. There’s plenty of other places to put our money in.” The majority of these companies offer consistent 4-5x ROI (average). BUT WHAT DO I KNOW! I’ll just choose to put the money in the flashy new thing. Isn’t this the second gilded age after all? Thirdly, if this is what crypto investors really care about, man do we have a long way to go. Is this really what will make or break an investment? Are they really that fickle? Do they know something that I don’t? Or are they just uneducated? Countdown till someone replies to this and says something like “Blah blah, blah blah blah blah, this is crypto, its supposed to be different.” Sorry pal, it ain’t different. Investing, based on pure fundamentals and due diligence, will never change. It’s always about the message, the vision, and the product a company is trying to SELL. Not the glittery fringe on the outside. Not the lipstick on the pig. Lastly (maybe joking…maybe not) I would bet my life that the industry insiders that are attending this thing are spending about thousands of dollars a month on furniture and décor from Restoration Hardware which isn’t too much of a detour, trend wise, than the Airship37 venue.
  19. 16 points

    A day to remember...

    So as Swell kicks off, I am currently holed up in my house in Ireland as hurricane Ophelia rages outside. At least it gives me an excuse to bunker down and watch the live streams of the conference for the day. In saying that, the force of the winds outside right now kind of put things in perspective. After being down the crypto rabbit hole for quite a while, it's easy to forget the important things in life and what is actually happening around you at present, instead of speculating and trying to foresee the future. Whatever Swell delivers, it will be a day to remember for me, as the storm rages outside.
  20. 16 points
    Here's a juicy little tweet from Marcus Treacher. Ripple is not vaporware ladies and gentlemen. They are changing the face of payments as we know it.
  21. 16 points
    It's surprising to me that compensating huge public figures for speaking is even surprising. I see the first reaction is based on, "well, if they believed in the product, then why should they need compensation?". Enter the real world. Don't look at this like Ripple is 'buying' Bernanke, because there's no way Bernanke would put his credibility on the line if he didn't believe in what he's saying. What's he going to say? Probably nothing that endorses Ripple directly, that's not his purpose. He's there to promote FinTech, possibly blockchain, and to represent the next generation of finance. He's going to say boring stuff, be vague, but in the end, his purpose at Swell isn't to say Ripple is king so XRP can delight moonbabies in a parabolic, no, Bernanke is the rockstar of the finance world, and the entire world will be focused on Swell. If Bernanke only talked about the coffee he had that morning, 5 million financial decision makers around the world are going to know about the coffee he had that morning AT THE RIPPLE CONFERENCE. Understand? Vinnie = disgruntled former worker. Zero credibility
  22. 15 points

    Photos from SWELL

    honestly I dont understand everyone here, the idea of using a small venue and inviting specific people is a smart one, why? The majority of people will already be attending Sibos as it is a huge event, If ripple did try and compete on a size level it would be futile at this early stage, they just need to solidify the idea of a counter exhibition, especially in relation to the technological differences. Plant a small idea and watch it grow. they will inevitably increase in size every year, and as the technological difference and leverage becomes clear, in the subsequent years people will have to choose, and who would choose the slower older competitor. I saw the head of swift mocking ripple, no different from that Dimon idiot talking about bitcoin, they will inevitably shoot themselves in the foot with that mentality, its the blockbuster/netflix scenario. To go small is to make the competitor think he is superior and you are no threat. you guys should all read the art of war, while you prepare make your opponent comfortable, before you attack make him angry, and when you attack make sure you know you will win. Patience People
  23. 15 points
    Swift is owned by member banks so it is difficult to tear down the network that has been in place for some time. Oddly, their size is actually not as mammoth as I had imagined. To me, Swift is the elephant that is HUGE but actually, they are only sitting pretty on net assets of only USD500m, sales of USD400m, profit margin of 4% and full year 2016 profit of only USD30m (figures are all rounded). Based on simple multiples, we can derive a value of USD600m at 20x earnings, 1.5x sales or 1.2x NBV. Even at USD1b valuation, Swift actually may become a prime target for hostile takeover knowing full well that the profitability and financial performance of Swift is unimportant as it was created to serve member banks, correspondent banks, provide simple unilateral messaging and provide employment to many worldwide. I firmly believe that Brad would like joint partnering for win-win rather than hostility with some member banks by the takeover. Hmm, even at USD2b, this translates to only 8b XRP tokens so it is still plausible depending on how receptive member banks are to Ripple's product offering. As the saying goes, it is the customer that is king so ... if many member banks opt for Ripple/XRP and blockchain tech, Swift will have to adapt by innovation or merger or fail ... looks like Ripple will fire up the war chest by ramping up XRP valuation for upcoming takedown ...
  24. 15 points
    "Besides RAK Bank, UK-based payment providers IFX, TransferGo, and Currencies Direct will use RippleNet to power instant payments into India — the largest beneficiary of retail remittances worldwide at $71 billion annually." Are you not entertained!? https://timesofindia.indiatimes.com/business/india-business/now-quicker-gulf-remittances-with-blockchain-push/articleshow/61028805.cms?utm_source=twitter.com&utm_medium=social&utm_campaign=TOIMobile
  25. 15 points
  26. 14 points

    Ripple/Gates Foundation/India

    CONTEXT: this is to address the speculation on a possible joint Ripple/Gates Foundation announcement The Gates Foundation So what is the Gates Foundation? Going off it's Wikipedia web page, the Bill & Melinda Gates Foundation, also known as the Gates Foundation, is a private foundation founded by Bill and Melinda Gates. It was launched in 2000 and is said to be the largest transparently operated private foundation in the world. The foundation has a number philanthropic goals with one being, https://www.gatesfoundation.org/What-We-Do/Global-Development/Financial-Services-for-the-Poor So what is one of the GF's strategy in accomplishing this? Targeting the Digital Payment Systems, https://www.gatesfoundation.org/What-We-Do/Global-Development/Financial-Services-for-the-Poor The Ripple/Gates Foundation Connection Is there any connection between Ripple and the Gates Foundation? Well...... Besides the occasional Ripple Insight articles on the Gates Foundations progress on connecting people to financial services, the GF themselves have had their eye and interest on Ripple. Bill Gates himself has noted the significance of distributed financial technologies such as Ripple as a model to connect the world to financial services. https://ripple.com/insights/why-bill-gates-believes-2016-will-be-the-year-of-financial-inclusion/ Within the Gates Foundation, there is an individual by the name of Konstantin Peric that shares an interest on Ripple due to his position in the GF. Peric is the deputy director of the Financial Services for the Poor team that focuses on digital payments. He oversees the strategy and grants to deliver digital payment solutions for the poor with current focus countries including Nigeria, Indonesia, Pakistan, India, Bangladesh. https://www.gatesfoundation.org/What-We-Do/Global-Development/Financial-Services-for-the-Poor/Strategy-Leadership/Konstantin-Peric Just like Bill Gates, Peric has been previously covered on Ripple Insights for his work. https://ripple.com/insights/kosta-perics-mission-to-reach-the-unreachable/ Peric himself has mentioned Ripple in a Newsweek article pertaining to "How Financial Inclusion Could Add $3.7 Trillion to the Developing World". In the article Peric explains one of the challenges they face is clearing and settlement between different providers. Explaining that the current financial system has a great deal of friction. He goes on to say, and then specifically mentions Ripple http://www.newsweek.com/financial-inclusion-could-add-37-trillion-developing-world-528462 Kosta has also been seen tweeting Ripple related news, The SouthEast Asian Enviornment As mentioned previously, Peric has a focus on countries that include Indonesia and India. India in particular has been undergoing some drastic changes within the country. Over the course of a night, Indian citizens woke up to the news that Indian Prime Minister Narendra Modi had declared that the 500 and 1,000-rupee notes were no longer legal tender. The implications were great as http://www.business-standard.com/article/economy-policy/86-of-currency-by-value-in-india-are-of-rs-500-rs-1-000-denominations-116110801416_1.html https://www.forbes.com/sites/patrickwwatson/2016/12/01/indias-demonetization-could-be-the-first-cash-domino-to-fall/#425f3dd463db As a result, it has pushed the usage of digital payments in the country. Meanwhile, two nation wide movements have been undergoing for years now. India attempting to build the largest biometric centralized database (Aadhar) in the world and it's financial sector exposing itself and trialing blockchain technology. http://www.nytimes.com/2011/09/02/world/asia/02india.html https://qz.com/1034358/ubi-and-automation-could-be-the-symbiotic-solution-for-displaced-workers/ Both movements are converging in a particular area in association to including the low income population of the country, the cellphone. A huge initiative behind publicly registering oneself into the biometric database (Aadhar) for the poor is the capability to purchase a cell phone and open a bank account once a digital identity has been created for the individual. On the blockchain end, different Indian financial institutions have been experimenting different systems utilizing blockchain technology. In an excerpt of an article written by Saurabh Agrawal, Co-Founder & CEO, Zebpay, he goes to say: https://www.siliconindiamagazine.com/viewpoint/ceo-insights/the-indian-tale-of-blockchain-digital-payments-nwid-7517.html With the launch of the Unified Payment Interface in India, it allowed banks to transfer money directly to one another based on a single identifier, such as the Aadhar number. https://www.washingtonpost.com/news/innovations/wp/2017/01/23/what-the-u-s-can-learn-from-indias-move-toward-a-cashless-society/?utm_term=.53085c17ae64 The End Goal? So let's try to tie things together. The Gates Foundation, thru Peric, is involved in connecting poor and rural areas of India to the finacial system. While the country on it's end has begun to close the gap by being proactive and implementing different policies in regards to the inclusion of the poor into the financial system. All nicely tied by cellular devices. So where is Ripple in all this? Other than bringing some of the major Indian banks into the network, there has been one interesting development. https://www.indianweb2.com/2017/07/15/makers-indias-upi-app-bringing-ripple-technology-india/ There also has been some recent developments in regards to the ILP as well, We also know thru the Japanese consortium of banks, there has been the development of a mobile application. https://ripple.com/insights/sumitomo-mitsui-banking-corporation-and-japan-post-bank-join-sbi-ripple-asias-bank-consortium/ While new Ripple job positions have been opening in India with Dilip Rao relocating into the region to be more engaged on something. I wonder what our friend Kosta Peric has been tweeting about.... (on a side note, Modi and Shinzo Abe are close. from what we hear about the Japanese government and it's financial system...... ) UPDATE
  27. 14 points
    This is so funny
  28. 14 points
    I don't want to get anyone's hopes up, but CoinDesk is reporting a leak that Brad Garlinghouse purchased a black turtleneck last week....
  29. 14 points
    Also.. last sentence: "For more information about XRP, please visit ripple.com/xrp and stay tuned for the Q3 2017 XRP Markets Report. " As if ya'll were going anywhere!
  30. 14 points
    I don't normally get overly excited about things, but from a mathematical perspective, this is bigger than Bernanke even. Systemic offerings like this magnify the effect of everything else
  31. 14 points
    The announcements just keep coming ... http://markets.businessinsider.com/news/stocks/Ex-President-of-PayPal-Scott-Thompson-Joins-Canadian-Fintech-Startup-Payment-Rails-as-Investor-and-Board-Advisor-1003661607 "Payment Rails' infrastructure leverages Blockchain and Ripple to optimize treasury and liquidity management, and utilizes AI and machine learning to optimize payment routing based on speed, cost, partner and FX rates. Payment Rails also incorporates AI and fuzzy logic for AML watchlist screening, and machine learning for fraud detection to deliver one of the most advanced payment platforms for businesses available." Public Beta is now in effect - with production slated for November 2017. Will be displaying their tech at SIBOS ...
  32. 14 points
    First use of XRP live is ... Cuallix https://www.google.com.hk/amp/s/www.cnbc.com/amp/2017/10/10/ripple-has-over-100-clients-as-mainstream-finance-warms-to-blockchain.html
  33. 13 points

    IBM - Ripple Technology

    I'm beginning to think @Max Entropy is actually Jed ... or a close friend
  34. 13 points
  35. 13 points

    Banks that use Ripple but not XRP

    @TiffanyHayden - 1. There is a common misconception for people not in the banking industry between payments & settlement The ripple net products provides for real term confirmation between banks of the payment occuring via its software confirming acceptance between the banks of the transaction and the funds availability in real time. Current via the swift method - Bank A would need to usually have a form for the client to complete and with Swift Codes/BIC and agreed fees the person details address, other banks address this could lead to multiple errors as for example in Australia people people would know there BSB & Account numbers but they assume the address of their local branch is the address for international payments to be sent to but it should actually be the address of the banks international settlement office. Due to the multiple amount of potential errors these could lead to funds not arriving. Now imaging if this needs to be replicated via a major intermediary like Citibank, JP Morgan, AMEX, VISA, Mastercard etc before it hits another major regional bank before hitting the bank that you wish to send payments too. Try sending money to Any Small Country with a small population and you will be hit with the above scenario which would usually take 4-5 business day to reach due to end of day batch information uploading against each ledger & settlement to occur end of day. With the Ripple Software it should allow for instant confirmation of payments against the ledgers of all banks instantly. Now - settlement is another kettle of fish, a bank can confirm that payment has been sent and their ledger updated but that doesn't mean they have the money in their account. The advantages of Ripple is fantastic to confirm real time payments but the banks don't actually have the money in their account. That's where XRP is used as source of liquidity for real time settlements to occur. The challenge is that the market is not liquid enough without the help of large market makers to assist in liquidity to the exchanges. Currently the reason why the status quo as been adopted for so long is that whats the use of payments occurring quickly when settlement is delay anyway? With XRP and the liquidity it provides settlement now can happen in the same instance as the payment being confirmed. 2. Where are the cost being saved by the banks this is a better guide - https://ripple.com/files/xrp_cost_model_paper.pdf The three main areas of savings are in the below without XRP Liquidity: Liquidity costs have two components: the cost of capital locked “in-flight” as an international wire is processed (typically two days) and the time to fund the local nostro account (typically one day depending on the local rail). Liquidity cost can be calculated as the cost of funds applied to the time-weighted average amount of capital locked up. (so in layman's terms, because you have sent the money and its not received and not sent you need to keep capital against the amount of funds, Nostro account watch this video - https://www.youtube.com/watch?v=wqpOX6vDD3E which will explain the funds the bank need to hold across border sitting to allow settlements to occur. With Ripple as Payment confirmation times are faster it will lower the Nostro account required. Payment Operations: The manual intervention cost of exceptions and error handling requiring headcount and the cost of using local rails. (Should be fairly easy to understand - more efficient use of technology will removed the need for as many employees being required in a particular department and if payment issue are eliminated the staff assign to cover that problem can and likely be made redundant or redeployed. Basel III (LCR)8: The opportunity cost to the sending institution of holding lower-yielding, high-quality liquid assets (as designated by pending Basel III regulations) against credit exposure during the in-flight period. (IN a nut shell Basell III came from the GFC which is a voluntary framework which recommends how much capital a bank needs to keep in order to ensure that the banks don't go bust in the event of another Financial shock, They classify capital into different tiers and generally stipulate that banks needs to maintain a certain amount of Teir one capital to operate. Without using XRP this is unaffected. Hope this helps..
  36. 13 points
  37. 13 points
    Guys, please stop with that silly dreaming. SWIFT is not a for-profit company and can't be taken over in a usual way. It's owned by member banks and its sole purpose is to help owners communicate safely with each other. When member banks finally realize that SWIFT is a burden for them, they will happily let the dinosaur die. And that day is coming.
  38. 13 points
    The page was recently redesigned to work more efficiently internally. I suspect something went wrong in that process. I reported it to the appropriate people.
  39. 13 points
    https://www.ft.com/content/8dcd3fa4-adbb-11e7-beba-5521c713abf4 @nvok posted this on the zerpbox as well as Reddit. I thought I would post it here as well. The content is for the most part similar to the other articles already posted, but I found new information in this one including the following. This tells us some important things. Major banks/corporations are getting increasingly comfortable with Ripple. And it also counters the FUD being spread by CLS and SWIFT that blockchain is not yet ready for prime time. They of course only say this because their Hyperledger solutions are still being developed or are in the POC stage.
  40. 13 points
    Whatever the price, it's a turning point for the whole crypto community. Putting crypto in the same room with serious banks legitmates this space in a way that will have far-reaching benefits for even the anarchists. Vinnie was an asset for Ripple for a particular growth stage, he just didn't see eye to eye with Ripple in terms of strategy and broader vision. At the end of the day he is in part responsible for Ripple's success. I remember that he said he wanted XRP to outcompete bitcoin, he just may get his wish; albeit not via the path he was hoping for.
  41. 13 points
    First Financial Institution Uses XRP to Solve the Liquidity Problem In a precedent-setting moment, Cuallix became the first worldwide institution to use xRapid — Ripple’s solution that utilizes XRP as a liquidity tool — to reduce the cost of sending cross-border payments from the U.S. to Mexico. Cuallix moved to the forefront of digital payments by using digital assets to remove the inefficiencies and red tape associated with processing and sourcing liquidity. Source: https://ripple.com/insights/ripplenet-grows-to-over-100-financial-institutions/
  42. 12 points
    I have posted this on other threads. SWIFT is not Ripple's true competitor. CLS Group is. Currently, below is how the market works. SWIFT (aka corresponding banking system) sends its transactions to CLS Group. CLS Group aggregates them and then executes FX swaps. The CLS Group accounts for 50% of the market ($5-10 trillion daily). The CLS group is similar to SWIFT. ~60 banks own and control CLS group. These same ~60 banks are part of SWIFT. CLS Group has been developing CLSNet. Below is a description. https://www.cls-group.com/about-us/interim-financial-report-2017/ceo-report/ Sound familiar? It should. They have taken a play directly out of Ripple's book (i.e., build a blockchain that works by itself or with SWIFT and is currency agnostic) and will be discussing it at SIBOS. https://www.coindesk.com/ibms-stellar-move-tech-giant-use-lumen-cryptocurrency-payments-rail/ In my mind, CLS (not necessarily Stellar though) is definitely legitimate competition. The CLS group is not SWIFT. They are much leaner (less than 400 employees). I discovered them as part of my due diligence when investing in XRP for the first time a couple of months back. And I wondered what their response to XRP would be (now I know). With all of that said, this is not a zero sum game. There is room for multiple players.
  43. 12 points
    People will never learn that you can't get rich overnight. If you don't believe in the tech and the team behind it and if you need your money and can't wait a couple of years - sell now while at a profit and move on to another thing. I'd honestly like to buy some more XRPs at 0.15c XRP is probably the only crypto where you get announcements like the Gates foundation and also first FI to use XRP and you still end up with everyone moaning. Every single one of the other cryptos isn't even in a PoC state, let alone enterprise ready. It's all about speculation at this point and I think it will be for at least 1 more year as I don't see banks adopting and using XRP in the near future (it's not that the tech is not good, it's just that banks and regulators are incredibly slow).
  44. 12 points

    IBM - Ripple Technology

    Hmm. I even don't like to offer my take on your bitter post. Just a few quick comments: IBM's business and revenue is on constant decline for about 15 years. In an attempt to stay relevant they've chosen Ripple technology in the cheapest available package (Stellar) They've produced ONE specific x-border line just for selected/limited number of users between UK and Philippines This line will be kept live for a few days/weeks/maybe months until the budget holding the line exhausts This is not even a PoC
  45. 12 points

    Photos from SWELL

    Brad prepares...
  46. 12 points
    Not just that. It makes me even more happy as it serves the original goal: better financial services to the poor and less developed regions. This will really help in developing those economies and markets. It's just FANTASTIC news ....
  47. 12 points

    I gifted XRP

    Hey everyone, I sorta already posted this on /r/ripple but they didn't seem very interested. Maybe you guys are. If not, carry on ! I've been lurking this and /r/ripple since mid may and got into ripple at about .14! At that point I told my brother and girlfriend about Ripple and how I believe that they may be on to something! Now my brother also wanted to invest in Ripple but isn't very tech-savvy, so he couldn't really figure out how to buy them. I would've gladly helped him but I didn't fully understand it at the time myself and he is currently residing in another country with different rules and payment methods.. I also got a little paranoid after reading lots of people getting hacked and losing all of their investments (be it Ripple, Bitcoin or ETH). So I started reading about paper wallets and found a paper wallet for Ripple. It did the job of generating a public key and secret key with QR codes but it seemed a little .. bland to just print that out. So I looked further and stomped into bitcoinpaperwallet.com. The creator has a pretty awesome and neat design for paper wallets but unfortunately, no support for XRP. So I downloaded the template and started making my own paper wallet design using the trifold design template. I coded a simple HTML template, ripped some art from the official ripple site, hacked together some javascript and voila! A Ripple paper wallet generator! Generator: https://droopram.github.io/RipplePaperWallet/ (I strongly advise you to download directly from source and not use the online version!) Source: https://github.com/droopram/RipplePaperWallet TL;DR: I made a tri-fold paper wallet for Ripple so I can gift it to my loved ones. I used simple masking tape for the private key part for now, I'm still waiting on my fancy hologram stickers to arrive. I also laminated the paper for extra strength. PS: The back says bitcoin on the photo, but I already fixed this typo :).
  48. 12 points
    Good morning all. This is my first post. I thought I would start by bringing to your attention someone else's work and briefly reviewing it. To this end, I include here links to a couple of educational YouTube videos I came across. These were uploaded in the past 2-3 days and are 10-15 minutes long each. One concerns Ripple's perceived potential while the other systematically addresses various Ripple/XRP-related inaccuracies, misconceptions, and untruths being posted by self-styled analysts. A third 'big picture' video introducing basic financial terminology is also available for viewing and may be helpful to some. The author is from Australia and appears to have experience in banking, which piqued my interest. I appreciated her articulating the differences between the wholesale and retail financial domains -- a distinction that all too often is not clearly made when comparing crypto assets -- and their impact on the coin inventory potentially required to manage transactions effectively and efficiently at scale. While her channel seems to be relatively new, I like her sensible, matter-of-fact approach, clear educational focus, and determination in counteracting misinformation with facts head on and in a concise way. Good notes accompany the visuals. I hope you too find the material valuable. Enjoy. Ripple - target market and opportunities Incorrect statements on Ripple
  49. 12 points
    Cuallix is the first institution worldwide to pilot XRP as a liquidity tool to lower the costs of payments from the U.S. to Mexico. As Cuallix advances from its XRP pilot to commercial deployment, it’ll make history as the first financial institution to unlock the full value of blockchain and digital assets, solving the inefficiencies of both processing and liquidity in global payments
  50. 12 points

    Buying XRP for family members

    Here's my advice: Make sure you ask them to open their own kraken.com or bitstamp.net account, let them go through the KYC procedure, make a deposit under their own name from their own bank account. Buy the XRP for them on the exchange. Then send the XRP to a wallet that you create, for example with the Rippex Desktop wallet, which you create on relatively new computer you've never watched **** or downloaded pirated content, print the secret code (the long string that starts with an 's') on two pieces of paper, put them in sealed envelopes with your signature on it, which they then have to store at two separate physical locations. You can of course offer to keep one copy for them. Ask them to not touch the envelopes for at least three years. Make screenshots of the deposits and trades you've made in kraken.com or bitstamp.net, their bank account transfer, and include prints of these screenshots in the envelopes. This last thing is very important, when at one point they want to sell the XRP tokens, they may have to prove to the exchange how they have legally obtained the XRP. Also send them the Ripple address (the long string starting with 'r'), they can use this to verify the XRP is still there, without opening the envelope (via "Accounts" at https://xrpcharts.ripple.com). Or send additional funds to the wallet at a later time.