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xrp-protocol

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  1. With all the talk about Libra and other threats to XRP, this article by TechCrunch perfectly describes why Ripple is putting in so much effort to build the necessary infrastructure first before anything else. "Why would that access matter? Because international remittances, transfers to the developing world from (usually) family members in the rich world, total half a trillion dollars a year, much of which is sent by slow, high-fee processors such as Western Union. The Libra whitepaper, accordingly, prominently cites “remittances” in its problem statement … … but makes only a few handwavey mentions of exchanges. Why does that matter? Because remittances are indeed a huge market but as I’ve argued before, “yes, it’s great if you can send five thousand FaceCoin to your family in Ghana for an 0.1% fee. But then your family in Ghana has to somehow convert them to cedis at an exchange — a task which is, as of this writing, likely to be slower, much clumsier, far more user-hostile, and very possibly even more expensive than the usual medium(s) of remittances. So what,” you might think, “doesn’t matter if the local businesses take Libra.” But a) it’s very hard to get every local business in a developing country to accept a new payment method b) eventually they too will have to pay exchange fees, in order to pay local taxes. (Before any dreamers suggest governments accept taxes in Libra and use it as a national currency, I assure you they won’t be eager to give up all control over their monetary supply.)" https://techcrunch.com/2019/06/23/whos-going-to-use-the-big-bad-libra/
  2. Probably this is why? https://www.bloomberg.com/news/articles/2019-05-02/central-banks-use-blockchain-for-first-time-to-swap-currency The Bank of Canada and Monetary Authority of Singapore have sent each other digital currencies using blockchain technology, marking the first such successful trial between two central banks. The pair have been collaborating on the use of distributed ledger technology and central bank digital currencies to make the cross-border payments process cheaper, faster and safer, they said in a joint statement. The BoC’s experimental domestic payment network, Project Jasper, was linked up with Singapore’s Project Ubin network as part of the test, done in partnership with Accenture and JPMorgan Chase & Co.
  3. First of all, I am not a troll at all. I am simply trying to have an open hard conversation. I won't defend my position but those who write rather arrogant/complacent replies sound like Blackberry owners when iPhone came out. Tech services/solutions can be non competitors and target completely different user base, but they often consolidate and end up a threat to each other. I made this post for us to acknowledge the broader market landscape. Those who wrote off this post as if I am just trolling, I can make the same argument that you don't have a clue about Transferwise. So let's not be complacent and completely write off each other's view point. @tulo, @King34Maine, @Skippy, thanks for replying with more context and bringing sense this this forum.
  4. The benefit margin brought by xrp is rather small over new generation cross-border players.
  5. https://www.coindesk.com/six-exchange-may-list-xrp-exchange-traded-product-in-two-months While the news about launching the world's first XRP ETP is exciting, what I find more intriguing is regarding the choice of SIX's infrastructure. So it lists XRP ETP and chooses R3's Corda for its own digital exchange... Hmm... "Currently, the SIX also building its own digital exchange in a bid to use distributed ledger technology to speed up settlements and trade tokenized assets. It recently chose R3’s Corda Enterprise platform to develop the infrastructure, with a plan to launch the SIX Digital Exchange in the second half of 2019."
  6. There is no doubt that xRapid can reduce frictions in cross-border money transfer. But I begin to wonder if xRapid can solve institutional size transfers, like $100M and above. Even if they connected with number of exchanges and continue to improve liquidity, a ticket size of 100M would require significant number of exchanges for conversion from XRP to local currency. If we are talking about emerging markets such as Mexico, Philippines, Indonesia, India, etc., would there be any exchanges large enough to cover these big transfers? Without the capability to move large ticket sizes, will xRapid ever be seriously considered by big banks? On another note, here is an excellent article on how money transfer works. xRapid addresses most of the problems identified in the article but my concern remains for big transfers... https://gendal.me/2013/11/24/a-simple-explanation-of-how-money-moves-around-the-banking-system/
  7. https://www.jpmorgan.com/global/treasury-services/IIN It seems like JPM is cooking up something on their own.
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