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Rutski

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  1. Haha
    Rutski reacted to Elysium2030 in Ripple 450+ Customers   
    Amazing Progress 
  2. Haha
    Rutski reacted to Sporticus in Zakinov v Ripple: Motion to dismiss granted and denied in part. Unregistered security allegations remain.   
    BEND OVER ALL XRP HODLERS!
    Below is the Order for those who know how to read law, (that excludes the semi-literate and one brain cell capacity  Tiny Account).   
    We will see how Ripple overcomes the next layer of issues pertaining to the securities characterization of XRP.  The court's ruling is in red.
    . Plaintiff Adequately Alleged the Federal Securities Claim Against Defendants
    Title 15 U.S.C § 77l(a)(1) provides the following in relevant part: “Any person who— (1) offers or sells a security in violation of section 77e of this title, or . . . shall be liable, subject to subsection (b), to the person purchasing such security from him . . .” 15 U.S.C § 77l(a)(1). Title 15 U.S.C § 77e(a)(1) provides the following: “Unless a registration statement is in effect as to a security, it shall be unlawful for any person, directly or indirectly— . . . (1) to make use of any means or instruments of transportation or communication in interstate commerce or of the mails to sell
     Ripple lost on the main issues: that XRP is not a security and the  three year statute of repose issue as to when their security was first offered to the general public, which was Ripple's strongest line of defense.
    https://www.courtlistener.com/recap/gov.uscourts.cand.334410/gov.uscourts.cand.334410.85.0.pdf
     
     
    B. Analysis 1. Plaintiff’s Claims under the Federal Securities Laws Are Not Barred by the Statute of Repose
    Here, whether Title 15 U.S.C § 77(m)’s three-year statute of repose bars plaintiff’s federal securities law claims depends upon two distinct issues: (1) the controlling rule for measuring when the statute of repose commences for purpose of Title 15 U.S.C § 77l(a)(1); and (2) when the alleged (or judicially noticeable) sales of XRP first qualified as a “bona fide” public offering within the meaning of Title 15 U.S.C. § 77l(a)(1).
    b. The First Offered Rule Does Not Bars Plaintiff’s Federal Securities Claims
    Having decided the controlling rule for determining when the statute of repose commences, the next issue is its application. Based on the allegations and judicially noticeable facts, the court concludes that defendants did not make their first bona fide public offering of XRP before August 5, 2016 (three years prior to plaintiff’s filing of his federal securities claims in this action on August 5, 2019)
    It really does not mean much though because Ripple simply follows slavishly Bit Coin and has no genuine use case or value impacting its crypto market share, save speculation.
     
    This article below is written by a professional who understands the securities problems of cryptos like Ripple. 
     https://www.coindesk.com/securities-law-helped-build-modern-capitalism-crypto-should-embrace-it
     
    THE FOLLOWING IS WRITTEN BY: Bruce Fenton is CEO of Chainstone Labs, which owns Atlantic Financial, the Satoshi Roundtable and Watchdog Capital, an SEC registered broker-dealer. 
    In 1602, the Dutch East India Company launched a new structure of ownership called the joint stock company. For the first time, investors could own and trade small pieces of businesses called shares. This invention changed the world.
    Securities are one of the most crucial components to the operation of our global economy. Many types of securities have become heavily regulated over the last century. This isn’t a discussion in favor of the regulations (many are overly burdensome and outdated) but it does point to the importance of securities as a structure.
    The logistics of operating and fundraising for public companies is hard work. Fundraising is a process with lots of friction, compliance requirements and paperwork. The ongoing operation of a public company can have complex management issues. For large companies, this is typically handled by trusted third parties like DTCC, which provides clearing and depository services. If we can make this easier, it could have a massive positive impact. Distributed ledgers allow us to replace trusted third parties and have a blockchain manage the ledger. This makes securities move more easily and quickly. 
    The invention of distributed ledgers, bitcoin (BTC) and blockchains is not the same as the invention of the joint stock company and Dutch East India Co. It’s not a new economic model; it’s a new technology and tool that improves how ledgers work. The invention is more similar to the printing press, the computer or the internet. It’s a big deal, but it’s not an invention that changes existing laws of economics. Just as bitcoin doesn’t change the properties of money but finds a way to improve on money, tokens don’t change the fundamentals of investing; they improve on the existing inventions. Think of it as an evolution from paper stock certificates to something better than paper but where the fundamentals of the underlying legal structure stay the same. Just because we invented a better form of paper doesn’t mean we should scrap the most productive and proven legal instrument in history for an unproven model of widgets with no terms. Instead of reinventing the bicycle, let’s improve on a proven model and update the Dutch East India Co. model for a new century.  
    In 2016, when I saw some of the first of the new wave of initial coin offerings (ICO), I had two simultaneous reactions:
    1. Wow, this is amazing.
    2. Wow, this is in violation of securities regulations.
    I’ve been registered in the securities business in some form for 28 years now. Since I was 19 and done billions of dollars in transactions. So I knew it was possible to comply with the regulations. Rather than trying to avoid being a security, I figured the right choice for most companies would be to simply embrace being a security and focus on complying with regulations. This is a key difference from how many looked at it in the early days and how some still do. This isn’t because I think the regulations are great, but because I know they are unavoidable.  
    The first time I heard of the Securities and Exchange Commission was at about age seven when my stockbroker Mom came home and told us that the SEC, Federal Bureau of Investigation and police had arrested someone in her firm who broke the rules. I thought this was fascinating. Only 12 years later I had my first job in a brokerage where the seriousness of federal laws was emphasized in our training. These rules have been around for 87 years and are not going anywhere.
    THIS IS THE EQUIVALENT OF A MARIJUANA ACTIVIST OPENING AN UNLICENSED DISPENSARY IN TIMES SQUARE.
    Forget trying to ignore the laws or hoping they go away or thinking “this tech makes it different.” Advocacy also matters little relative to old laws affecting trillions of dollars. Some in crypto think they can just build to violate these laws; it doesn’t work that way. This is the equivalent of a marijuana activist opening an unlicensed dispensary in Times Square. Some may support the ideology, but it would be an ineffective activist action.
    In the first ICO wave, many focused on trying to prove “utility” so they wouldn’t be classified as a security. Today we still see similar efforts from some exchanges. For example, Coinbase’s Crypto Ratings Council makes  a case for why certain instruments are not securities, instead of doing the harder work to become licensed to deal in legal securities. 
    Many DeFi projects, and efforts such as Hester Peirce’s "Safe Harbor" proposal, continue down the same road. The goal is to avoid being a security. I think this is a mistake.
    The Securities Act of 1933 defines a security very broadly:
    any note, stock, treasury stock, security future, security-based swap, bond, debenture, evidence of indebtedness, certificate of interest or participation in any profit-sharing agreement, collateral-trust certificate, preorganization certificate or subscription, transferable share, investment contract, voting-trust certificate, certificate of deposit for a security, fractional undivided interest in oil, gas, or other mineral rights, any put, call, straddle, option, or privilege on any security, certificate of deposit, or group or index of securities (including any interest therein or based on the value thereof), or any put, call, straddle, option, or privilege entered into on a national securities exchange relating to foreign currency, or, in general, any interest or instrument commonly known as a “security,” or any certificate of interest or participation in, temporary or interim certificate for, receipt for, guarantee of, or warrant or right to subscribe to or purchase, any of the foregoing.
  3. Like
    Rutski reacted to ed1 in Zakinov v Ripple: Motion to dismiss granted and denied in part. Unregistered security allegations remain.   
    I think the result is not too bad for Ripple. The securities case is not dismissed but even in case the plaintiff can eventually win the case and claim a liability, the amount that the plaintiff can claim is severely restricted which would suggest a strong incentive to settle as far as the plaintiff is concerned.
    From the document:
    "Significantly, as plaintiff pointed out at oral arguments its 129,000 XRP unit purchase during 2018 Q1, when compared to defendants sale of 0.095 percent of the XRP traded on the market that quarter, supports the inference that plaintiff purchased approximately 122 XRP units from defendant (or approximately 19 XRP units, discounting for plaintiff’s two week trading period and reasonably assuming uniform distribution of sale by defendant during that period).
    This conclusion is further supported by the more glaring (but largely unaddressed) issue presented by this claim—namely, to what extent may defendants be considered in privity with an exchange purchaser when a subsequent purchase qualifies as part of an issuer transaction under § 25011. In any event, at this stage in the litigation, where the court may draw reasonable inferences and the relationship between defendants, subsequent purchasers,and the exchange isunclear, the court concludes that plaintiff has adequately alleged privity in support of his § 25503 claim, though he may ultimately be unable to prove it."
    Also,
    "As a preliminary matter, plaintiff suggests that Rule 9(b) does not necessarily apply to his claims for violation of § 25401because they might sound in negligence (as opposed to fraud). Dkt. 74 at 27. Plaintiff fails to develop that potential distinction. In any event, because Rule 9(b) applies to negligent misrepresentation claims,9plaintiff’s underdeveloped suggestion to the contrary is misplaced.As a result, the court applies Rule 9(b) to plaintiff’s § 25501 and § 25504.1 claims for violation of § 25401. Here, plaintiff failed to satisfy Rule 9(b)’s heightened pleading standards with respect to defendants’ allegedly fraudulent misstatements.
     
    "“Similarly, on or about December 21, 2017, Ripple tweeted in Japanese that XRP was now available on over 50 exchanges. That tweet linked to an article on Ripple’s website which described XRP as ‘the fastest and most scalable [digital] asset on the market.’It continued, ‘[t]he market is taking notice of XRP’s speed, reliability and scalability —which has strengthened the demand for XRP and whereit’s listed. In fact, we’re proud to announce that XRP has gone from being listed on six exchanges earlier this year to more than 50 worldwide.’The article also linked to a number of exchanges where XRP could be purchased, and stated that ‘XRP’s long-term value is determined by its utility—including its ability to help financial institutions source liquidity for payments into and out of emerging markets.’” Id.¶ 45. Here, plaintiff fails to explain how or why the above statement is false. As a result, the misstatement alleged above fails Rule 9(b)."
     
    "Various statements (mostly tweets) by defendants on specified dates concerning public interest in XRP (Compl. ¶ 63), advantages over Bitcoin (id.¶ 64), the growth and potential value of XRP (id.¶¶ 65-66), the future use of XRP by American Express, the Japan Bank Consortium, as well as other “banks and payment providers” (id.¶¶ 67, 68, 73), how XRP is more than “bank software”(id.¶ 74), a partnership with MoneyGram (id.¶¶ 102-103), defendants’ intent to develop the infrastructure necessary for banks to directly use XRP (id.¶ 102), and how XRP’s value depends upon the XRP Ledger’s use for cross-border payments as well as its adoption by enterprises (id.¶ 149).Again, plaintiff fails to explain how or whyany of the misstatements alleged in the above paragraphs are false. In their motion, defendants challenged the sufficiency of variousof these alleged misstatements. Dkt. 70 at 31. Plaintiff failed to respond to such challenges. Dkt. 74 at 27-28. As a result, the misstatements alleged at paragraphs 63-68, 70, 73-74, 102-03, and 149 all fail Rule 9(b)"
     
     
     
     
     
     
  4. Haha
  5. Haha
    Rutski reacted to DirectorCoulson in Bank of America joins Ripplenet, can anyone confirm?   
    2 Major banks 2017
    Dozens of banks in 2018
    Half of the banks 2019
    Whats the fairytale for 2020? Oh i saw another thread on xrpchat :
    'Brad Garlinghouse: Ripple Will Be Amazon Of Crypto Before 2025'
     
    I will refrain from calling the CEO out if he stops 'predicting' any developments for major banks using xrp!
  6. Haha
    Rutski reacted to DirectorCoulson in Bank of America joins Ripplenet, can anyone confirm?   
    Like stated before - im here until break even. I hope i get my money back and i hope i get the justice when the CEO needs to resign. Thats all. Stop asking me what im doing here. I put it into my bio
  7. Haha
    Rutski got a reaction from panmores in Bank of America joins Ripplenet, can anyone confirm?   
    So xcited 4 dis bank of untied states of america deal/anouncement, Wen moon. Monay hungri.-
  8. Like
    Rutski got a reaction from Ryyy20 in Bank of America joins Ripplenet, can anyone confirm?   
    So xcited 4 dis bank of untied states of america deal/anouncement, Wen moon. Monay hungri.-
  9. Like
    Rutski got a reaction from Viggo in Bank of America joins Ripplenet, can anyone confirm?   
    So xcited 4 dis bank of untied states of america deal/anouncement, Wen moon. Monay hungri.-
  10. Thanks
    Rutski got a reaction from WrathofKahneman in Egypt & Ripple - a corridor one day?   
    Was fun reading from the first post of @WrathofKahneman to his news from Tuesday. Excellent work! 
  11. Thanks
    Rutski reacted to WrathofKahneman in Egypt & Ripple - a corridor one day?   
    And so it begins!
    Looks like only RippleNet for the time being, not XRP, but the National Bank of Egypt is the largest bank in Egypt accounting for ~25% of of loans, deposits & foreign trade in Egypt.  If this goes well, and XRP is deemed Sharia compliant, it could be huge.
  12. Like
    Rutski reacted to WrathofKahneman in Egypt & Ripple - a corridor one day?   
    I think Egypt is a place ripe for Ripple adoption. Of course, I hope this about most places so here is some data that makes it worth keeping an eye on.   
    [1] In the most general of ways, the situation in Egypt might seem familiar to the situation in India:  the government has alternately outlawed and permitted crypto. Currently it is not exactly clear where they stand on it, but there has been a recent legal push towards licensing.  [https://cointelegraph.com/news/egypt-lays-out-path-for-a-crypto-future-with-draft-law ]  
    [2] The country intends to move towards a cashless society, but they have a very high amount of unbanked people.  [ https://www.egypttoday.com/Article/3/68491/Sisi-approves-cashless-methods-of-payment-law ]  To this end, the government is working on a unified card for citizens to receive all their government entitlements such as salaries, pensions or subsidies, tied to either a bank or an Egypt Post account.  They are also "working aggressively" on encouraging mobile money & mobile wallets use. Government is also working with the CB to offer microfinancing through mobile applications.  This effort will provide banking to 20mill + unbanked.  [ http://www.theworldfolio.com/files/file/report-5cae38c273220.pdf ]  (Left & Right columns)   
    [3] Significantly, these efforts are connected to a three-year programme, FIGI, led by ITU, the World Bank Group and the Committee on Payments and Market Infrastructures (CPMI) of the Bank for International Settlements, with support from the Bill & Melinda Gates Foundation...  [https://news.itu.int/how-egypt-builds-trust-digital-financial-services/ ]  Likewise, the use of Post Banks for financial inclusion is something the Universal Post Union, with support from the Gates Foundation, has been behind.  [http://news.upu.int/no_cache/nd/gates-foundation-helps-upu-support-partnerships/]
    [4] Recently, the Central Bank of Egypt, in december, said it will issue a digital currency [ http://en.amwalalghad.com/egypts-central-bank-studies-issuing-digital-currency-official/ ]  While it is not clear what platform might be used, it is worth noting that the government owned National Bank of Egypt and the largest private bank, the CIB are both members of R3, Voltron.  This largest private bank and R3 Partner, CIB, intends to build out a DLT network in 2019.  In their EOY 2018 annual Report, they claim to have tested "different use cases for potential development into live projects and built a local blockchain network for banks and different financial services providers"  [https://www.cibeg.com/English/InvestorRelations/FinancialInformation/Annual Reports/Annual Report 2018_002.pdf ]
    [5] Another piece of the puzzle might be that Kuwait's NBK, a Ripple partner,  has a significant presence in Egypt and their other neighbors, Saudi Arabia are also involved with Ripple.  So too, UAE, and the major bank in Oman.
    [6] Finally, consider that Egypt's Suez Canal Economic Zone, has deep ties with Russia.  Russia is building a huge economic zone in this trade/port center for Russian manufacturing and trade with Africa, Middle East and Europe.  Putin claimed $7billion will be invested.  At the same time, with so much trade finance at stake, both the EU and Russia are investigating alternatives to SWIFT to avoid US financial control.   [https://www.rt.com/business/452047-russia-industrial-zone-egypt ] [https://uk.reuters.com/article/russia-banks-swift/russia-backs-global-use-of-its-alternative-swift-system-idUKL8N2163BU]  [https://english.mubasher.info/news/3333401/EU-starts-SWIFT-alternative-money-transfer-system] 
    [7]  In 2018, Egypt received the 5th largest amount of remittances.  The first list:
    India China Mexico Philippines Egypt  That list should look very familiar to Ripple fans...  [https://migrationdataportal.org/themes/remittances ]
    /end
  13. Haha
    Rutski reacted to ixarepe in Does Novogratz have a point?   
    Longtime XRP investor here and bullish on XRP. Nevertheless I think Novogratz raises a fair point. 
    "Ripple the company owns 60 billion of the coins, of the XRP,” Novogratz began. “That’s a lot of it.”
    “When I’m buying a stock, if I know [someone’s] selling $10 billion-worth of it at some price, it makes me less excited to buy the stock,”
    “It did underperform immensely last year,” he told the audience. “I think it will underperform immensely again this year and it’s just because of the supply.”
     
    This is not about comparing XRP to shares (because they are not). But about the sheer amount of XRP Ripple is holding. 
    I was part of the 'sword of damocles' discussions before the Escrow thing and although the Escrow construction mitigates part of the issue, for all practical purposes the hypothetical ability to 'dump' 1 billion XRP on the market each month is still looming above the market. 
    I know the argument about how this is not in Ripples interest but would rather see an automatic release mechanism tied to an x% of growth. 
    Growth is decreasing below the set percentage then release of XRP is decreasing (maybe even buying up XRP). And vice versa. 
    Curious to hear what you think. 
     
     
  14. Like
    Rutski reacted to mars75 in Ripple's Potential Role in the Universal Financial Access 2020 Initiative   
    Late last year, Xi Jinping gave a speech declaring that blockchain technology presented an important breakthrough on several key areas within China and that the government intended to utilize the technology. Xi Jinping claimed that the development of distributed ledger technology provided a pivotal moment in which it allowed the Chinese state to reform and improve the inefficiencies found within the Chinese financial market. Stating that “It is necessary to explore the application of ‘blockchain’ in people’s daily life, and actively promote the application of blockchain technology in the fields of education, employment, pension, data-driven poverty alleviation, medical health, anti-counterfeiting, food safety, public welfare, social assistance, etc”. (1) Xi’s speech was in stark contrast to China’s previous posture on blockchain technology, specifically on cryptocurrencies such as BTC. But the public statement displayed that the Chinese government had finally come to an understanding on the potential blockchain technology can provide to the state. Unfortunately, most crypto evangelists took the speech to mean that the Chinese market was opening itself to the publicly traded cryptocurrencies found in crypto exchanges. An appreciation in the total crypto market capitalization only reinforced this notion that China was simply going to adopt the current, open source blockchains present. Weeks passed and China’s historical stance on cryptocurrencies was further fortified when several crypto exchanges halted or ceased services amid speculation of a crackdown within the country. (2) A contradicting development to Xi’s previous speech earlier in the year. However, there has been collaboration and developments by the state in the background that would corroborate Xi’s statements.
    Financial Access 2020
    The foundation was laid at the 2015 World Bank Group–IMF Spring meetings. These meetings resulted in the establishment of the Universal Financial Access 2020 (UFA2020) initiative. The World Bank Group along with both private and public sector partners, committed themselves to promote and enable global financial inclusion in a multi-year program. With the intentions of enabling individuals who are not currently connected to the financial system, to have access to a transaction account to store money while also being able to send and receive payments. Setting a goal of enabling one billion unfinanced individuals to gain access by 2020. Their approach being the development of a platform that has a biometric identity database, virtual payment addressing, and digital payment interoperability. (3)
    At the time, there were over 30 partners that committed towards the UFA2020 initiative. Participants that now include the likes of Alipay, Du Xiaoman Financial (Baidu), BBVA Microfinance Foundation, CFPA Microfinance, Confederation of West African Financial Institutions (CIF), MasterCard, Pakistan Microfinance Network, State Bank of India, VISA, etc. (4) With each of these partners doing independent projects or collaborations to meet the UFA2020’s target.
    One such program that was spawned from the UFA2020 initiative, was the Financial Inclusion Global Initiative (FIGI). A three-year program formed by the collaboration between the World Bank Group, the Committee on Payments and Market Infrastructure (CPMI), and the International Telecommunications Union (ITU). The program is funded by the Bill & Melinda Gates Foundation. (5) Their collective goal is “to support and accelerate the implementation of country-led reform actions to meet national financial inclusion targets, and ultimately the global ‘Universal Financial Access 2020’ goal”. (5) This subgroup plans to utilize the “work of the CPMI-World Bank Group Task Force on the Payment Aspects of Financial Inclusion (PAFI), the BMGF’s Level One Project, and the ITU Focus Group – Digital Financial Services, to deliver implementation solutions, deep topical analyses and practical investigations, working toward the goal of Universal Financial Access by 2020”. (5)
    Bill & Melinda Gates Foundation’s Level One Project is recognized by followers of Ripple due to the project’s development and intention of utilizing the Interledger Protocol to address interoperability between financial systems while helping lower the costs in developing inclusive payment platforms. Thru panels held at the FIGI symposiums, there is apparent dialogue and collaboration between the FIGI organization, the World Bank, and Ripple. (6)
    China
    The main purpose of the FIGI receiving grant money from the BMGF in 2017, was to accelerate financial inclusion in developing countries. With three countries being selected to be the focus of the initiative. Those countries being Mexico, Egypt, and China since they contain millions of unbanked individuals. (7) Ultimately, the development and progression of the initiative will be used as models for digital financial inclusion innovations around the globe. And regarding the selected countries, the People’s Bank of China (PBOC) specifically requested support from the World Bank Group to aid in bridging the gap between the Chinese financial system and their citizens found in remote areas. (7)
    Interesting enough, the FIGI initiative aligned with other partnerships and projects in 2017. Partnerships that were composed of Ripple, Huawei, Mojaloop, etc. As some in the Ripple/XRP community might remember, officials from the PBOC visited the San Francisco Ripple offices in August 2017. (8) The community speculated on numerous possibilities on why Ripple was being visited by PBOC officials but there was no disclosed explanation of the meeting between Ripple and the PBOC. But looking at other announcements from 2017 chronologically, some perspective on the PBOC and Ripple meeting can be gained.
    First, the PBOC sought guidance and help by the World Bank Group to foster financial inclusion innovation within the country. The FIGI under the UFA2020 initiative, choose China to be one of the three countries focused on fostering innovation early 2017. In August 2017, the PBOC visited the Ripple offices in San Francisco. Two months later, BMGF and Ripple’s collaboration and development on Mojaloop was publicized. (9) Yet one aspect of the announcement on Mojaloop that was overlooked was that four mobile systems companies were brought to help develop an Open API for mobile money interoperability. Those companies being Ericsson, Telepin, Mahindra Comviva, and Huawei. (10) And with a document from the International Telecommunication Union (ITU) on “Digital Currency including Digital Fiat Currency”, we know that the Mojaloop API was designed by the four mobile companies that included Huawei. (11) Huawei and the BMGF have also been collaborating on promoting interoperability and financial inclusion since the previous year. Late 2016, Huawei announced partnership with the Gates Foundation on the Level One Project. (12) With the partnership focusing on developing “scalable, low-cost, interoperable and fraud resistant payment systems will be based on open Application Programming Interfaces (API’s) and help people in the world’s poorest regions improve their lives and build sustainable futures by connecting them with digitally based financial tools and services”. (12) Coincidentally occurring right when the Mojaloop API was being developed in the same Level One Project. Nonetheless, the Mojaloop API seems to be both an innovation and solution both Huawei and the BMGF sought to develop in their partnership.
    We know that the BMGF and Bill Gates himself, have been aware since 2016 ,of the potential revolution the Interledger Protocol can bring to the financial system1d. With Bill Gates even recognizing how Ripple’s technology can move money across countries efficiently and cheaply. (13) Although Ripple’s known involvement in China is thru LianLian Pay and some possible penetration thru third parties such as AirWallex, there appears to be a potential utilization of the Mojaloop API thru Huawei in FIGI’s project within China. This can potentially explain why Ripple expanded into China with the opening of offices in the country. (14)
    Outside FIGI
    Outside of FIGI’s scope in China, there are other developments with UFA2020 affiliates forming and investing in projects that could leverage the Interledger Protocol. A recent example involves a group of Ripple investors and partners raising capital for Currencycloud. Currencycloud is a UK startup that has developed remittance APIs that allows any financial business to integrate money transfer services thru Currencycloud’s platform. A duo of Ripple shareholders in SBI and Siam Commercial Bank participated in the Series E round for the UK startup. But interesting enough, VISA and the World Bank Group’s International Finance Corporation also partook in the series round. (15) Two key members of the UFA2020 initiative. These investors intend to promote and utilize Currencycloud’s API for cross-border payments. While VISA has also entered a partnership with the UK startup. Thrugh the partnership, VISA plans to expand and improve their services by using Currencycloud’s platform. (16) Yet Currencycloud has another notable partnership with the Ripple associate, DWOLLA. DWOLLA is not only known for sharing a seat with Ripple on the US Faster Payments Council but more importantly, for their collaboration in developing the Mojaloop platform. (17) DWOLLA will be leveraging the UK startup’s platform to expand their network for coverage on 38 currencies in 180 countries. (16) And on a final note, Currenycloud has an impressive group of clients that includes The Bill & Melinda Gates Foundation. (16) Furgther adding another affiliate to the assortment of UFA2020 and Ripple partners involved with Currencycloud. (16)
    Looking at announcements or projects through the perspective of promoting and expanding the Universal Financial Access 2020 initiative, one can conceivably see the purpose and structure of collaborations done by Ripple associates to possibly promote adoption of the Interledger Protocol.
     
    1. https://medium.com/@mablejiang/xi-jinpings-speech-at-the-18th-collective-study-of-the-chinese-political-bureau-of-the-central-1219730677b2
    2. https://cointelegraph.com/news/china-5-crypto-exchanges-halt-or-shut-services-amid-perceived-crackdown
    3. https://www.worldbank.org/en/topic/financialinclusion/brief/achieving-universal-financial-access-by-2020
    4. https://ufa.worldbank.org/en/partners
    5. https://www.worldbank.org/en/topic/financialinclusion/brief/figi
    6. https://twitter.com/DougMPearce/status/936176649963388928?s=20
    7. https://www.devex.com/news/3-model-countries-selected-for-a-new-financial-inclusion-initiative-90778
    8. https://twitter.com/Ripple/status/902201846592184320?ref_src=twsrc^tfw|twcamp^tweetembed|twterm^902201846592184320&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fripple-talks-with-peoples-bank-of-china-key-to-chinese-blockchain-market
    9. https://ripple.com/insights/news/ripple-the-gates-foundation-team-up-to-level-the-economic-playing-field-for-the-poor/
    10. https://www.gatesfoundation.org/Media-Center/Press-Releases/2017/10/Bill-Melinda-Gates-Foundation-Releases-Open-Source-Software-to-Expand-Access-to-Financial-Services
    11. https://www.itu.int/en/ITU-T/focusgroups/dfc/Documents/FGDFC-O-003.pdf
    12. http://carrier.huawei.com/minisite/software/mobile-money/foundation.html
    13. https://ripple.com/insights/why-bill-gates-believes-2016-will-be-the-year-of-financial-inclusion/
    14. https://www.asiacryptotoday.com/ripple-plan-expansion-to-shanghai-china
    15. https://techcrunch.com/2020/01/26/currencycloud-nabs-80m-from-visa-world-bank-group-and-more-for-its-cross-border-payments-api/
    16. https://www.currencycloud.com/company/clients/
    17. https://modusbox.com/announcing-mojaloop-io-an-open-source-software-platform-for-financial-inclusion-to-uplift-the-worlds-poor/
  15. Thanks
    Rutski reacted to LeonidasH in Intermex partners with Ripple to use RippleNet and ODL   
    https://www.xrparcade.com/news/ripple-partners-with-intermex/
  16. Sad
    Rutski got a reaction from vrippled in Brad Garlinghouse from Davos: IPO a natural evolution for Ripple   
    Perhaps they know xrp isn’t going well and they know they can only sell software. 
  17. Haha
    Rutski reacted to 1776isHere in XRP and Ripple adoption is real   
    Wasn't the whole IMF scuttlebutt based on XRP being part of the SDR basket? It isn't free floating at all. It runs the same way the FED runs the US Dollar. Except the FED actually has FOMC Statements and Meeting Minutes that are transcripted. We're essentially asking for Ripple to become the Digital FED. It's pretty unrealistic. No smart money has bought this to this day. The escrow keeps returning which is bad because the control isn't being removed one and two no one actually buys it. 
  18. Like
    Rutski reacted to Julian_Williams in XRP and Ripple adoption is real   
    you can't peg XRP - it is with counter-party bridging asset, that is its elegance.  The flexibility of not being a basket currency makes it possible for all currencies to float against each other.
  19. Thanks
    Rutski reacted to LeonidasH in Xpring is listening   
    https://www.xrparcade.com/news/xpring-is-listening/
  20. Like
    Rutski got a reaction from WetRipples in Brad Garlinghouse from Davos: IPO a natural evolution for Ripple   
    Perhaps they know xrp isn’t going well and they know they can only sell software. 
  21. Like
    Rutski reacted to Julian_Williams in XRP and Ripple adoption is real   
    utility started from zero this time last year and is doubling every 36 days - it is still a very small figure.   At present we are talking of utility at about 10 - 20 million XRP a day, the utility we are aiming at is tens of billions a day.  We have a way to go before we will feel the benefits
  22. Like
    Rutski reacted to SquaryBone in XRP and Ripple adoption is real   
    I'm frequently listening to the Anthony Pompliano podcast. Last week it was with Peter Johnson.
    What struck me is that at some point Peter talks about remittances to Mexico and how it's taken off using crypto on BitSo (Ripple and XRP anyone?): 2.5% of all remittances are done through Bitso. Anthony is surprised and starts talking about this meaning that average people figured out 4 different things on crypto which is quite incredible (2:59; go watch it for his specific wording). Peter's response is that all of this is abstracted away (must be certainly Ripple and XRP by now :p). And after a lot of beating around the bush he literally says Ripple and XRP is doing these remittances and abstracting the complexities of crypto away.
    Hearing someone like him talk about Ripple and XRP getting adoption on a BTC centric podcast is astonishing. It shows that their strategy is paying of and that they are getting traction. Expecting users to understand technical details on crypto is just silly (I've heard some very vocal people on that in the bitcoin community; I'm a bitcoin bull though). This is why I fully believe crypto will be something in the background (except for BTC as "digital gold") just like TCP/IP is on the internet. I'm not saying XRP will moon now, but certainly something started moving.
    I forgot all about this it until I see the below video coming up in my feed today.
    All credit goes to BankXRP for making this montage (I think he did a great job getting the parts that are relevant): 
     
  23. Like
    Rutski reacted to WrathofKahneman in Egypt & Ripple - a corridor one day?   
    Update (I still believe )
    The Central Bank of Egypt completed a KYC trial and launched a pilot to aid financial inclusion in the country.  The Egyptian National Post Organisation (ENPO) signed w/ Temenos and its T24 Transact core banking system, which is Ripple enabled.  The Post bank is a move towards financial inclusion esp, in a cashless society.   The United Bank of Egypt upgraded their core to run w/ Finastra (Fusion) , a Ripple partner Moneygram has account service with Suez Canal bank (they have been in Egypt a while already, though) So, crumbs.  Not suggesting there is a plan in place, but that the preconditions to make a significant Ripple integration desirable are growing.
    Sources:
    https://www.fintechfutures.com/2020/01/central-bank-of-egypt-pilots-ekyc-solution-for-financial-inclusion/
    https://www.finextra.com/pressarticle/75284/united-bank-of-egypt-completes-core-upgrade-with-finastra
    https://www.fintechfutures.com/2019/12/temenos-inks-deal-with-egyptian-national-post/
    https://www.crowdfundinsider.com/2020/01/156716-moneygram-partners-with-suez-canal-bank-to-help-egyptian-expats-conduct-remittance-payments/
  24. Sad
    Rutski got a reaction from EcneitapLatnem in Brad Garlinghouse from Davos: IPO a natural evolution for Ripple   
    Perhaps they know xrp isn’t going well and they know they can only sell software. 
  25. Haha
    Rutski reacted to Kiwi in Scenario: Ripple Goes Public   
    Do you think DS knew about IPO coming? He probably did. What exactly did he do with his coins? Why tifany changed her mood 180°? Why so many high profile employees left ripple in last 6 months? Why exactly does ripple need to do IPO?
    You do IPO when you need money. Does ripple need that kind of money when they earnes billions through dumping xrp? Something is brewing, thats for sure. And we are about find out in less than a year. Doom or gloom, so be it. Very excited
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