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About King34Maine

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  1. I guess I should've clarified better what I meant by the US not being the "end all be all." It was a poor choice of words to describe what I was trying to convey. What I should've said is that the reliance on the "$" serving as the defacto global reserve/international settlement currency doesn't have to persist. Crypto/Digital assets + blockchain/DLT technologies like XRP/XRPL/RippleNet/ILP have, over the past +10 years, proven themselves to be tremendously better alternatives.
  2. I don't see Ripple shutting down if XRP's declared a security here in the US. They will more than likely move their headquarters from the US to a more friendlier jurisdiction or just simply not use XRP-based product in the US as they're doing right now. There's plenty of business elsewhere. The US is not the end all be all.
  3. Finally....I thought it was just me!!! I thought maybe I'm the ******* idiot for not seeing the value in all of these Ape emojis. Apparently, they are exquisite pieces of fine artwork representing/capturing the personality and overall mood of an individual. So much so that ppl are willing to pay millions for them. I guess the phrase, "Beauty is in the eye of the beholder" is true.
  4. Yes, I think for XRP to be utilized as the bridge asset within the context of CBDCs is a bit foggy at the moment unless Ripple has a deep bench of CB partnerships lined-up to make the use of XRP as a bridge between CBDCs worthwhile. Regarding the BIS's mCBDC initiative, if they can on-board a significant coalition of CBs to utilize this mCBDC platform would be the tricky part. I'll be following this as it develops. We've seen many such BIS organized coalitions before that have fizzled out. One can argue that the SDR (Special Drawing Rights) was one such attempt that hasn't lived up to its intended glory. With respects to alternative roles for XRP outside of Ripple-based products. There are several that have caught my attention. One is a South African exchange called Xago, that uses XRP as a bridge asset independent of Ripple's ODL product and to arbitrage. The other is FxCoin who's using XRP a similar manner via a cash management platform for SBI affiliated companies and partners. Also, FxCoin is creating a Swaps market using XRP to help increase the token's liquidity as well to hedge the price fluctuation risk associated with using XRP for contract-based business-to-business payments, thus expanding the utility of XRP. Xago: Why the XRP ledger is light-years ahead ‘We love Bitcoin, But XRP Solves our Problems’ –Xago CEO Jurgen Kuhnel The days of speedy payments using crypto have arrived Xago bullish, ready for fair crypto regulation FxCoin: Demonstration experiment of crypto asset XRP transaction conducted in connection with settlement with overseas business companies FXcoin and Sumitomo Corporation, new demonstration experiment in transaction of virtual currency XRP Ripple: FXcoin plans XRP-based global cash management system Japanese cryptocurrency exchange FXcoin to test remittances with XRP FXcoin to provide Japan's first XRP (ripple) -based trading service
  5. I disagree here. The transference of CBDCs from different countries is still a cross-border transactions and is no different than retail/consumer-based cross-border transactions. @JoelKatz & @hammertoe talked about how XRP could be used via the private ledgers:
  6. If I may push back a bit on a few statements: I agree with most of what you have articulated here, however, I disagree in-part. It's true that there are reasonable SEC officials/staff who are trying to do the best they can given the the most recent and the current SEC leadership's guidance. However, to say that this was an honest lawsuit brought against Ripple to set some mediocre precedent, I believe, is a grossly inaccurate. There's too much evidence that point to nefarious actors both inside and outside the SEC: If the SEC truly wanted to set precedence then they should've file a lawsuit against the entity that actually had an ICO (i.e. Ethereum Foundation). It's my opinion that this lawsuit was a weapon used to thwart Ripple's growth in the US and abroad. The argument isn't that the industry is lacking a plethora of cutting-edge blockchain/fintech platforms competing with one another, but that the rules are/have been skewed in favor of a select few (two to be more specific, BTC and ETH) here in the US. I can only imagine the number of US-based partnerships Ripple would have if XRP had the same clarity as BTC and ETH, better yet, the level of institutional adoption of the XRPL. I think the saving grace for Ripple in this scenario is that the SEC did wait until 2020 to bring this lawsuit against the company. I say this because Ripple has spent the better part of 9 years working hand-in-hand with regulators from around the world. Foreign regulators and CB officials were able to see this law suit for the BS that it was. This 9-year history of collaboration between Ripple's leadership and policy/regulatory regime with foreign regulators essentially took the sting out of the the lawsuit and isolated the fall-out to that of the US only.
  7. I believe there are quite a few nefarious actors involved in orchestrating this lawsuit against Ripple. The SEC was just the puppet, I want to know all of the puppeteers involved. I hate being a sounding board for conspiracies, but as more information is being revealed regarding this lawsuit, the more it stinks. In fact it wouldn't surprise me if Vitalik was a mole planted at Ripple to siphon/steal ideas. We've all heard the story of how he lived with Stefan Thomas and interned at Ripple for a few months as he waited to get his "VISA" approved. Then he goes off to create Ethereum having learned of the power of Codius at Ripple. Codius: Smart Contracts Made From Containers "Later in 2013, a young Bitcoin developer crashed on my couch for a couple of weeks while visiting San Francisco. In the afternoon, he would come to the Ripple office and join our discussions about smart contracts. His name was Vitalik Buterin. And these conversations led him to incorporate Ripple’s key/value data structure into Ethereum."
  8. Can you provide the actual link. It would be nice to pull it up in Google to translate into English.
  9. That's interesting, I thought that Canada was working with R3 to possibly develop a CBDC via project Jasper. What we do know for sure, from both David Schwartz and James Wallis, is that Ripple consulted and worked with many CBs over the past several years to gain insights into what fiscal policy features/characteristics the private XRPLs would need to have to meet their needs. It wouldn't surprise me that Canada would be among the lot to pilot Ripple's CBDC platform. There's so many dots to connect regarding Ripple it's hard to keep up with everything. The company is like an Iceberg. We're given just a sliver of the intel all the while knowing there's so much more going on beneath the surface.
  10. We also know that Brazil is building a CBDC platform prototype in partnership with Ripple from a CEBRA 2021 Powerpoint presentation on "CBDC and the future of payments:"
  11. The pre-agreement is with Ripple because the RMA will be a Ripple partner. Also, this is a "PRIVATE" version of the XRPL and will be a centralized permission-based platform controlled by the managing central bank. This private central bank ledger has nothing to do with the XRPL or the XRPLF other than it's using the open source technology. The XRPLF governs the XRPL not the proprietary private ledger platform Ripple has created for CBs. If I had to guess, Ripple will house these private CB ledger under a subsidiary network within RippleNet. I also believe they will have a customized built-in private liquidity solution (i.e. CBDC ODL) that uses XRP as the bridge asset between the various CBDC private ledgers. Most likely each CB will have a stockpile of XRP to facilitate the transference of each participating CB's CBDC between one another to allow for quick settlement.
  12. Can you clarify what you mean when you say, "None have materialized." Ripple has over +300 partnerships with FIs, Banks, payment providers, etc. all of whom are using various aspects of RippleNet. Some just the bi-lateral messaging network, some the ODL, and some Line-of-Credit. Ripple is well past the pilot phase for these three features of RippleNet. Because ODL and Line-of-Credit utilizes XRP, their use depends on regulatory clarity in both the initiating and destination countries, proper infrastructure (market makers, arbitrage, etc.), and enough liquidity via the corridor. This is the first publicized announcement of a CBDC test pilot for Ripple's Private XRPL with a Central Bank. Literally, the Private XRP-Ledger CBDC platform was just finalized and released for Central Banks to start piloting. The release is actually a month early as David Schwartz said, in the most recent Ripple Drop back in August, to expect the XRP-Ledger CBDC platform within a couple of months.
  13. It also looks like Ripple is expanding its China operations: What I find strange is that Ripple has had boots on the ground in China (Li Yuan – Ripple’s Managing Director for China) going back to the end of 2019 and most likely some time before that. However, the company has been eerily quiet regarding its China operation/developments. By now, I would've expected Ripple to have China listed as one of their global offices and given a similar showcase announcement for Li Yuan, as the company's Managing Director, like they did for Brooks Entwistle and Sandi Young, but not a peep. Matter-of-fact, the only China related partnership that Ripple gave a full-throated announcement was for the LianLian Pay partnership back in 2018. Thanks to@LeonidasH, he was able to do some digging and found some interesting Ripple/China/Malaysia connections a year ago. I think Ripple has something BIG brewing in China. @LeonidasH mentions Ripple’s collaboration/MOU with China’s Asia Pacific Investment Bank (APIB), the Nanjing Financial Technology Research and Innovation Center, and the Bank of Jiangsu. Per the collaboration: “The four parties will work together to advance blockchain-based construction and application of innovative cross-border payment channels of the chain, and on this basis, promote the in-depth application of more financial products such as the conversion of renminbi and small currencies.” More importantly, as @LeonidasH explains, AsiaDB is creating a digital asset platform called Ocliven. This platform was constructed/tested in partnership with technology and financial experts like the Nanjing Institute of Digital Finance Industry, Ripple, and Shanghai Pudong Development Bank among others. Ripple's involvement with AsiaDB's Ocliven digital asset operation management system, sounds very similar to developments with SBI who will be leveraging XRP as part of a global cash management and domestic and international remittances for intra-group settlement of financial obligations amongst companies associated with SBI and those throughout Asia more broadly via FxCoin. FXCoin will develop an XRP based swap market to help increase XRP liquidity as well to hedge the price fluctuation risk associated with using XRP for contract-based business-to-business payments. Once you remove the potential risk associated with Fx rates, only then will institutional players come en masse. The Ocliven digital asset platform is, at its core, a swap marketplace to effectively attract and match different types of asset owners and fund owners, improve the traceability of underlying assets and transparency of asset management.
  14. Great observation, I was kinda thinking the same thing. However, would that apply to Ripple? Afterall, LoC was introduced in October of 2020. Couldn't Ripple still argue fair notice here as well?
  15. I wasn't referring to posts within this thread, but on other social media outlets. Also, just to be clear, my response wasn't directed to @Seoulite but is a reflection of my general sentiments regarding the whole Flare network delay and the subsequent chorus of ppl whining about the delay. Never said that retail users didn't matter, just that they are the first to complain about any/everything that doesn't go according to plan. Developers, in general, have an appreciation for the level of work that's involved in creating a new app, new line of code for a program, or building a new blockchain network. The weight and burden to ensure a successful launch or code merge rests on their shoulders. The only thing "retail" or "regular" people have to do is just use such said app or program. If something goes awry the blame does not go to the "retail" or "regular" user like @Kiwi or @King34Maine. That blame is squarely pointed/levied at the developers/engineers who built such said platform, app, or program.
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