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GrayFox

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  1. Haha
    GrayFox reacted to Truckdriver in Tiffany Hayden   
  2. Haha
    GrayFox reacted to whiteout in Tiffany Hayden   
    I think it’s strange how all her selfies are from the same side
  3. Haha
  4. Thanks
    GrayFox reacted to zerpener in “Past, Present and future of the International Monetary System” - Brad Garlinghouse Presents at Swiss National Bank conference   
    Link
    Brad presents last, starts 30 minutes towards the end. 14/5/19
     
  5. Like
    GrayFox reacted to LeonidasH in Abu Dhabi Global Market and Ripple   
    https://xrparcade.com/news/abu-dhabi-global-market-and-ripple/
  6. Haha
    GrayFox reacted to Ripple-Stiltskin in 200+ Partners?   
    Adding some fantasy ( shaken, not stirred) to this whole crypto thing, I can see XRP easily reaching $ 1 within the next week or so. 
    Also;
    Troooooooooonnnnnnnn! 
    Lol, I’m bored. 
  7. Like
    GrayFox reacted to Nihilist in NEW TO BLOCKCHAIN: TURNING IN-GAME VIRTUAL GOODS INTO ASSETS   
    https://www.wired.com/story/blockchain-turning-in-app-virtual-goods-assets
  8. Like
    GrayFox reacted to KarmaCoverage in DLT will revolutionize not only Finance but also International Trade   
    I have been noticing this for a long time, even with people who I know have invested directly in Ripple the company, seem to refuse to even mention Ripple/xrp in media.
    They always speak generically about "crypto" and the great potential, but always under the guise of "bitcoin" even when I know bitcoin cant technically even do what they are saying. It's been entertaining.
  9. Thanks
    GrayFox got a reaction from JannaOneTrick in DLT will revolutionize not only Finance but also International Trade   
    This is brilliant. Thank you very much for this. Currently at work but I think I got my evening sorted. Thank you for the links. 
     
  10. Thanks
    GrayFox reacted to OzAlphaWolf in NACHA, FINASTRA and Ripple=Checkmate   
    NACHA also recently partnered with Accenture to work on standardising payment APIs. Accenture is also a Ripple partner and of course one of Ripple's goals is progressing interoperability. 
    https://www.pymnts.com/api/2018/nacha-accenture-api-developer-asig-payments-standardization/
  11. Thanks
    GrayFox reacted to JannaOneTrick in DLT will revolutionize not only Finance but also International Trade   
    A few days ago, I opened a topic regarding the vast positive effects in regards to the FX market and International Logistics.
    One of the key elements I highlighted was the Letters of Credits issued by banks to help exporters / importers conduct their operations;
    because of how highly tied the Letter of Credits are with the Correspondent Banking system.
    As being one of the core of my studies, I always was passionate about International Trade and its organizations (IMF, WTO...). Hence I wanted to give the people another look of the DLT potentials.
    You can find more details on this here:
     
    Today, after researching within the World Trade Organization website, I stumbled on a hefty and interesting document:
    https://www.wto.org/english/res_e/booksp_e/blockchainrev18_e.pdf
    If you go to page 21 - 22, (pictures below), you will find the traditional trade finance process, which is extremely cumbersome.
    Also, you will have an overall distribution of the players within the International Trade as well as the contracts and documents these players use to perform exports / imports.
    Among those documents there is the Letter of Credit, to which I gave a particular attention a few days ago.
    The document is a gold mine of information that resonate with Ripple technology and how their employees are marketing their solutions.
     

     
    Here is a couple of quotes:
    Blockchain can revolutionize international trade towards paperless trade:
    Blockchain could facilitate national G2G (Government to Government) and certain B2G (Business to Government) border procedures:
     
    There are many mentions to Ripple throughout the document, but nothing unknown in that perspective.
    The bottom line is, the developments provided by DLT far surpass what we commonly think and, in that regard, Ripple' solutions, given its compliance with banks, are a perfect fit to upgrade the International Trade and Logistics as a whole.
    As I see it, I am definitely convinced DLT, and Ripple, will dramatically enhance International Trade as we know it and alleviate its highly fragmented system.



     
    And below you will find 2 other documents, published by the Boston Consulting Group that works closely with the WTO.
    These documents also emphasize on how International Trade and Logistics need blockchain.
    Resolving the Blockchain Paradox in Transportation and Logistics
    https://www.bcg.com/en-be/publications/2019/resolving-blockchain-paradox-transportation-logistics.aspx
    Pairing Blockchain with IoT to Cut Supply Chain Costs
    https://www.bcg.com/en-be/publications/2018/pairing-blockchain-with-iot-to-cut-supply-chain-costs.aspx
  12. Thanks
    GrayFox got a reaction from CG123 in Poject Ubin resurfaces   
    I'm just reading the papers now and pulled out a few things. I tried to tweet the buggers but I'm not good at that and made a mess of it. One of the interesting things the paper says is that they don't expect all Central banks to be using the same system and not a single friggin' country will relinquish their market so the next best thing is to allow each country to have its own system and yet be connected and be interoperable with other systems. This points towards a world dominated by Interledger Protocol as the industry standard and even if god forbid ILP does not succeed then there needs to be a payment rail that interconnects every other domestic rail. So here goes my musings!
     
    According to the Project Jasper/Ubin published papers they refer to this paper "The Bank of Canada, Bank of England and Monetary Authority of Singapore share assessment on emerging opportunities for digital transformation in cross-border payments" and the focus was picturing three scenarios:
    The report examines three models of cross-border payments. The first two are built on existing domestic interbank payment systems using traditional technology. The third model focuses on the use of Wholesale Central Bank Digital Currency and its various applications through Distributed Ledger Technology. The models could be used to improve access, speed and transparency of cross-border payments. However, the report finds that further work would be required, by both industry and regulators, if the models were to be developed further. Future areas of focus could include implementation and policy challenges. 
    Link 1 - http://www.mas.gov.sg/News-and-Publications/Media-Releases/2018/Assessment-on-emerging-opportunities-for-digital-transformation-in-cross-border-payments.aspx
     
    According to the paper: The Monetary Authority of Singapore (MAS) and the Bank of Canada (BOC), together with JP Morgan and Accenture, embarked on the Jasper-Ubin Project, a technology-based experiment to realize this all-or-nothing guarantee through an atomic transaction for a Canadian Dollar (CAD) - Singapore Dollar (SGD) payment across two distributed ledger technology (DLT) platforms based on Hash TimeLocked Contracts (HTLC).  HTLC uses smart contracts to synchronize all the actions making up a transaction so that either they all happen, or none happens.
    We know ILP is capable of this feature and  the fact that it is controlled by a non-profit organisation which allows for a consensus in updating standards: Link 2- https://interledger.org/rfcs/0022-hashed-timelock-agreements/  
    According to the paper: Their was a collaboration between the BoE, BoC and MAS in regards to this whole new interoperability in central banks settlements and synchronication of payments and settlements across the globe as per the Link 1 posted above. The paper delves into the scenarios of what happens when one point fails then all the payments should fail. We all recall the proof of concept on Ripple by the BoE and their call of interest for synchronisation which is still happening for the new RTGS.
    PoC on Ripple: This PoC focused on a high-value cross border payment scenario in which transactions in two different currencies are executed simultaneously in two different simulated RTGS systems that could represent two different countries. Our key objectives were: 1- Determining whether the Interledger protocol could provide a suitable technical solution to the scenario;  2- Exploring situations in which the synchronised settlement process should not complete (for example, where there is a lack of available liquidity to make a payment) and to understand potential ways of responding; and  3- Building understanding of the technical challenges associated with both synchronisation and the Interledger Protocol.  The PoC provides some interesting findings if we link it to the Jasper/Ubin paper and the fact that the BoE is involved in the background.  Link3 https://www.bankofengland.co.uk/research/fintech/-/media/boe/files/fintech/ripple.pdfla=en&hash=75E5F445230B8A2B794C208D29619A3E33F1FFE7&hash=75E5F445230B8A2B794C208D29619A3E33F1FFE7  
    I'm going to shut the hell up as this is about to turn into a clusterf**k but you see where I'm getting at? Ripple hinted at this - There's not going to be a one blockchain to rule them all, they envisioned the possibility of multiple blockchains (and don't even get me started on multihop!) and so they allowed for ILP to flourish outside their control in order to create favourable environment for the XRP ledger to flourish. 
     
    Now back to my vodka.....
  13. Like
    GrayFox got a reaction from GiddyUp in The Ripple Drop - Episode 12   
    Funny enough now that I look at that deal and who are involved, this is pretty under the radar. The International Bank for Reconstruction and Development has had its eyes on Ripple for quite sometime and one of their publications dates back to 2017. Page 35 of this document talks about DLT and Financial Inclusion, Ripple is one of the first examples and there's nothing negative said.
    https://openknowledge.worldbank.org/bitstream/handle/10986/29053/WP-PUBLIC-Distributed-Ledger-Technology-and-Blockchain-Fintech-Notes.pdf?sequence=1&isAllowed=y

     
    And this one is from their sister organisation the IFC 
    https://openknowledge.worldbank.org/bitstream/handle/10986/31251/134063-WP-121278-2nd-edition-IFC-EMCompass-Blockchain-Report-PUBLIC.pdf?sequence=1&isAllowed=y

    The USA is long gone by now
  14. Like
    GrayFox got a reaction from EXARRPEE in Poject Ubin resurfaces   
    I'm just reading the papers now and pulled out a few things. I tried to tweet the buggers but I'm not good at that and made a mess of it. One of the interesting things the paper says is that they don't expect all Central banks to be using the same system and not a single friggin' country will relinquish their market so the next best thing is to allow each country to have its own system and yet be connected and be interoperable with other systems. This points towards a world dominated by Interledger Protocol as the industry standard and even if god forbid ILP does not succeed then there needs to be a payment rail that interconnects every other domestic rail. So here goes my musings!
     
    According to the Project Jasper/Ubin published papers they refer to this paper "The Bank of Canada, Bank of England and Monetary Authority of Singapore share assessment on emerging opportunities for digital transformation in cross-border payments" and the focus was picturing three scenarios:
    The report examines three models of cross-border payments. The first two are built on existing domestic interbank payment systems using traditional technology. The third model focuses on the use of Wholesale Central Bank Digital Currency and its various applications through Distributed Ledger Technology. The models could be used to improve access, speed and transparency of cross-border payments. However, the report finds that further work would be required, by both industry and regulators, if the models were to be developed further. Future areas of focus could include implementation and policy challenges. 
    Link 1 - http://www.mas.gov.sg/News-and-Publications/Media-Releases/2018/Assessment-on-emerging-opportunities-for-digital-transformation-in-cross-border-payments.aspx
     
    According to the paper: The Monetary Authority of Singapore (MAS) and the Bank of Canada (BOC), together with JP Morgan and Accenture, embarked on the Jasper-Ubin Project, a technology-based experiment to realize this all-or-nothing guarantee through an atomic transaction for a Canadian Dollar (CAD) - Singapore Dollar (SGD) payment across two distributed ledger technology (DLT) platforms based on Hash TimeLocked Contracts (HTLC).  HTLC uses smart contracts to synchronize all the actions making up a transaction so that either they all happen, or none happens.
    We know ILP is capable of this feature and  the fact that it is controlled by a non-profit organisation which allows for a consensus in updating standards: Link 2- https://interledger.org/rfcs/0022-hashed-timelock-agreements/  
    According to the paper: Their was a collaboration between the BoE, BoC and MAS in regards to this whole new interoperability in central banks settlements and synchronication of payments and settlements across the globe as per the Link 1 posted above. The paper delves into the scenarios of what happens when one point fails then all the payments should fail. We all recall the proof of concept on Ripple by the BoE and their call of interest for synchronisation which is still happening for the new RTGS.
    PoC on Ripple: This PoC focused on a high-value cross border payment scenario in which transactions in two different currencies are executed simultaneously in two different simulated RTGS systems that could represent two different countries. Our key objectives were: 1- Determining whether the Interledger protocol could provide a suitable technical solution to the scenario;  2- Exploring situations in which the synchronised settlement process should not complete (for example, where there is a lack of available liquidity to make a payment) and to understand potential ways of responding; and  3- Building understanding of the technical challenges associated with both synchronisation and the Interledger Protocol.  The PoC provides some interesting findings if we link it to the Jasper/Ubin paper and the fact that the BoE is involved in the background.  Link3 https://www.bankofengland.co.uk/research/fintech/-/media/boe/files/fintech/ripple.pdfla=en&hash=75E5F445230B8A2B794C208D29619A3E33F1FFE7&hash=75E5F445230B8A2B794C208D29619A3E33F1FFE7  
    I'm going to shut the hell up as this is about to turn into a clusterf**k but you see where I'm getting at? Ripple hinted at this - There's not going to be a one blockchain to rule them all, they envisioned the possibility of multiple blockchains (and don't even get me started on multihop!) and so they allowed for ILP to flourish outside their control in order to create favourable environment for the XRP ledger to flourish. 
     
    Now back to my vodka.....
  15. Like
    GrayFox got a reaction from EXARRPEE in Poject Ubin resurfaces   
    Thank you for reminding me of that!
    Essentially this goes back to the 'checkmate' move by Ripple. Interledger Protocol is the panacea to allow walled gardens to talk to each other in seconds without having a connection. To summarise the whole thing, what Ripple is essentially propositioning is a single water source that everyone can connect to and in turn connect to other sources. 
    Think of Central Banks and domestic monetary systems as continents and Ripple as the ocean. Instead of building a bridge from North America to Europe in order to get to Asia, you could literally build a port and do that very same thing and not only that but you are now connected to all the other continents without having to go through another!
     
     
  16. Like
    GrayFox got a reaction from Cesar1810 in Poject Ubin resurfaces   
    I'm just reading the papers now and pulled out a few things. I tried to tweet the buggers but I'm not good at that and made a mess of it. One of the interesting things the paper says is that they don't expect all Central banks to be using the same system and not a single friggin' country will relinquish their market so the next best thing is to allow each country to have its own system and yet be connected and be interoperable with other systems. This points towards a world dominated by Interledger Protocol as the industry standard and even if god forbid ILP does not succeed then there needs to be a payment rail that interconnects every other domestic rail. So here goes my musings!
     
    According to the Project Jasper/Ubin published papers they refer to this paper "The Bank of Canada, Bank of England and Monetary Authority of Singapore share assessment on emerging opportunities for digital transformation in cross-border payments" and the focus was picturing three scenarios:
    The report examines three models of cross-border payments. The first two are built on existing domestic interbank payment systems using traditional technology. The third model focuses on the use of Wholesale Central Bank Digital Currency and its various applications through Distributed Ledger Technology. The models could be used to improve access, speed and transparency of cross-border payments. However, the report finds that further work would be required, by both industry and regulators, if the models were to be developed further. Future areas of focus could include implementation and policy challenges. 
    Link 1 - http://www.mas.gov.sg/News-and-Publications/Media-Releases/2018/Assessment-on-emerging-opportunities-for-digital-transformation-in-cross-border-payments.aspx
     
    According to the paper: The Monetary Authority of Singapore (MAS) and the Bank of Canada (BOC), together with JP Morgan and Accenture, embarked on the Jasper-Ubin Project, a technology-based experiment to realize this all-or-nothing guarantee through an atomic transaction for a Canadian Dollar (CAD) - Singapore Dollar (SGD) payment across two distributed ledger technology (DLT) platforms based on Hash TimeLocked Contracts (HTLC).  HTLC uses smart contracts to synchronize all the actions making up a transaction so that either they all happen, or none happens.
    We know ILP is capable of this feature and  the fact that it is controlled by a non-profit organisation which allows for a consensus in updating standards: Link 2- https://interledger.org/rfcs/0022-hashed-timelock-agreements/  
    According to the paper: Their was a collaboration between the BoE, BoC and MAS in regards to this whole new interoperability in central banks settlements and synchronication of payments and settlements across the globe as per the Link 1 posted above. The paper delves into the scenarios of what happens when one point fails then all the payments should fail. We all recall the proof of concept on Ripple by the BoE and their call of interest for synchronisation which is still happening for the new RTGS.
    PoC on Ripple: This PoC focused on a high-value cross border payment scenario in which transactions in two different currencies are executed simultaneously in two different simulated RTGS systems that could represent two different countries. Our key objectives were: 1- Determining whether the Interledger protocol could provide a suitable technical solution to the scenario;  2- Exploring situations in which the synchronised settlement process should not complete (for example, where there is a lack of available liquidity to make a payment) and to understand potential ways of responding; and  3- Building understanding of the technical challenges associated with both synchronisation and the Interledger Protocol.  The PoC provides some interesting findings if we link it to the Jasper/Ubin paper and the fact that the BoE is involved in the background.  Link3 https://www.bankofengland.co.uk/research/fintech/-/media/boe/files/fintech/ripple.pdfla=en&hash=75E5F445230B8A2B794C208D29619A3E33F1FFE7&hash=75E5F445230B8A2B794C208D29619A3E33F1FFE7  
    I'm going to shut the hell up as this is about to turn into a clusterf**k but you see where I'm getting at? Ripple hinted at this - There's not going to be a one blockchain to rule them all, they envisioned the possibility of multiple blockchains (and don't even get me started on multihop!) and so they allowed for ILP to flourish outside their control in order to create favourable environment for the XRP ledger to flourish. 
     
    Now back to my vodka.....
  17. Like
    GrayFox got a reaction from aavkk in Poject Ubin resurfaces   
    I'm just reading the papers now and pulled out a few things. I tried to tweet the buggers but I'm not good at that and made a mess of it. One of the interesting things the paper says is that they don't expect all Central banks to be using the same system and not a single friggin' country will relinquish their market so the next best thing is to allow each country to have its own system and yet be connected and be interoperable with other systems. This points towards a world dominated by Interledger Protocol as the industry standard and even if god forbid ILP does not succeed then there needs to be a payment rail that interconnects every other domestic rail. So here goes my musings!
     
    According to the Project Jasper/Ubin published papers they refer to this paper "The Bank of Canada, Bank of England and Monetary Authority of Singapore share assessment on emerging opportunities for digital transformation in cross-border payments" and the focus was picturing three scenarios:
    The report examines three models of cross-border payments. The first two are built on existing domestic interbank payment systems using traditional technology. The third model focuses on the use of Wholesale Central Bank Digital Currency and its various applications through Distributed Ledger Technology. The models could be used to improve access, speed and transparency of cross-border payments. However, the report finds that further work would be required, by both industry and regulators, if the models were to be developed further. Future areas of focus could include implementation and policy challenges. 
    Link 1 - http://www.mas.gov.sg/News-and-Publications/Media-Releases/2018/Assessment-on-emerging-opportunities-for-digital-transformation-in-cross-border-payments.aspx
     
    According to the paper: The Monetary Authority of Singapore (MAS) and the Bank of Canada (BOC), together with JP Morgan and Accenture, embarked on the Jasper-Ubin Project, a technology-based experiment to realize this all-or-nothing guarantee through an atomic transaction for a Canadian Dollar (CAD) - Singapore Dollar (SGD) payment across two distributed ledger technology (DLT) platforms based on Hash TimeLocked Contracts (HTLC).  HTLC uses smart contracts to synchronize all the actions making up a transaction so that either they all happen, or none happens.
    We know ILP is capable of this feature and  the fact that it is controlled by a non-profit organisation which allows for a consensus in updating standards: Link 2- https://interledger.org/rfcs/0022-hashed-timelock-agreements/  
    According to the paper: Their was a collaboration between the BoE, BoC and MAS in regards to this whole new interoperability in central banks settlements and synchronication of payments and settlements across the globe as per the Link 1 posted above. The paper delves into the scenarios of what happens when one point fails then all the payments should fail. We all recall the proof of concept on Ripple by the BoE and their call of interest for synchronisation which is still happening for the new RTGS.
    PoC on Ripple: This PoC focused on a high-value cross border payment scenario in which transactions in two different currencies are executed simultaneously in two different simulated RTGS systems that could represent two different countries. Our key objectives were: 1- Determining whether the Interledger protocol could provide a suitable technical solution to the scenario;  2- Exploring situations in which the synchronised settlement process should not complete (for example, where there is a lack of available liquidity to make a payment) and to understand potential ways of responding; and  3- Building understanding of the technical challenges associated with both synchronisation and the Interledger Protocol.  The PoC provides some interesting findings if we link it to the Jasper/Ubin paper and the fact that the BoE is involved in the background.  Link3 https://www.bankofengland.co.uk/research/fintech/-/media/boe/files/fintech/ripple.pdfla=en&hash=75E5F445230B8A2B794C208D29619A3E33F1FFE7&hash=75E5F445230B8A2B794C208D29619A3E33F1FFE7  
    I'm going to shut the hell up as this is about to turn into a clusterf**k but you see where I'm getting at? Ripple hinted at this - There's not going to be a one blockchain to rule them all, they envisioned the possibility of multiple blockchains (and don't even get me started on multihop!) and so they allowed for ILP to flourish outside their control in order to create favourable environment for the XRP ledger to flourish. 
     
    Now back to my vodka.....
  18. Thanks
    GrayFox got a reaction from CG123 in The Ripple Drop - Episode 12   
    Funny enough now that I look at that deal and who are involved, this is pretty under the radar. The International Bank for Reconstruction and Development has had its eyes on Ripple for quite sometime and one of their publications dates back to 2017. Page 35 of this document talks about DLT and Financial Inclusion, Ripple is one of the first examples and there's nothing negative said.
    https://openknowledge.worldbank.org/bitstream/handle/10986/29053/WP-PUBLIC-Distributed-Ledger-Technology-and-Blockchain-Fintech-Notes.pdf?sequence=1&isAllowed=y

     
    And this one is from their sister organisation the IFC 
    https://openknowledge.worldbank.org/bitstream/handle/10986/31251/134063-WP-121278-2nd-edition-IFC-EMCompass-Blockchain-Report-PUBLIC.pdf?sequence=1&isAllowed=y

    The USA is long gone by now
  19. Like
    GrayFox got a reaction from GiddyUp in The Ripple Drop - Episode 12   
    impeccable timing from Ripple with this video considering this was published recently:
    https://www.adgm.com/mediacentre/press-releases/uae-ministry-of-finance-signs-mou-with-adgm-and-ibrd-to-establish-the-international-technology-center-itc-in-uae/

  20. Like
    GrayFox got a reaction from KarmaCoverage in This is a really stupid post   
    This is just a hypothesis and let's call it within the realms of science fiction at this point. When it takes off and Ripple will essentially hold billions if not trillions of dollars in XRP then Ripple could essentially become a lender of last resort (https://www.investopedia.com/terms/l/lenderoflastresort.asp) whereby they can lend out the XRP in reserve to markets and economies where liquidity is drying up. Essentially, to some degree this takes the role of the SDR and (wait for it) XRP becomes some form of world currency. 
    The USD cannot play this role due to the Triffin Paradox, you can't have a currency that has to adhere to domestic monetary policies and at the same time adhere to international ones. In 2009, China blamed that financial meltdown on lack of liquidity with the USD. https://www.theguardian.com/business/2009/jan/28/china-blames-america-for-credit-crisis

    Here's a decent video of Miguel Vias of Ripple on how he sees the XRP distribution could happen as a lender of last resort - it's at the 54:30 mark.
     
  21. Like
    GrayFox reacted to itcdominic in The Ripple Drop - Episode 12   
    we let slow regulation get in our way
  22. Like
    GrayFox reacted to Drew in The Ripple Drop - Episode 12   
    Did it with cellular tech,  auto, solar.... Why not include finance.
  23. Like
    GrayFox reacted to Yodaxrp in The Ripple Drop - Episode 12   
    Rome didn't recognise his weakness untill the barabarians were at its door... It's typical from all the empires in the history.
  24. Like
    GrayFox reacted to itcdominic in The Ripple Drop - Episode 12   
    USA is loosing its lead in the financial world and may not even know it.
  25. Like
    GrayFox got a reaction from retryW in The Ripple Drop - Episode 12   
    impeccable timing from Ripple with this video considering this was published recently:
    https://www.adgm.com/mediacentre/press-releases/uae-ministry-of-finance-signs-mou-with-adgm-and-ibrd-to-establish-the-international-technology-center-itc-in-uae/

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