LotusFace 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:
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
Pairing Blockchain with IoT to Cut Supply Chain Costs
LotusFace reacted to Julian_Williams in Q1 2019 XRP Markets Report
yuk, you really are dirtying your own reputation with that diatribe! Do you have evidence of Ripple employees driving lambos? What is the point of a well funded organisation going to the public for funds? What is greedy about selling 2 -3 % of your assets pa to build the foundations of your company's future?
LotusFace reacted to JannaOneTrick in Spring Meetings - R3 - World Bank - OECD - Bank of Canada
CAPITAL MARKET DEVELOPMENT AND THE FINTECH REVOLUTION: OPPORTUNITIES AND CHALLENGES
April 11, 2019 | 13:00 to 14:30 ET, 17:00 to 18:30 GMT
Atrium, World Bank Group Headquarters, Washington DC
A flagship event of the 2019 Spring Meetings on Thursday, April 11 brought together a panel of fintech experts for a lively conversation on the wide-ranging opportunities and challenges of technological innovation in the capital markets, along with important legal, regulatory and competitive considerations.
Overall it was a very interesting video to watch. The moderator was very professional and provided to a very pleasant discussion with the panelists.
There is no strict mention of Ripple or XRP, but some parts of the video pricked up my ears.
I will give a timeline for each speakers and provide a very succinct summary of each speaker's intervention.
At the end of the panel, there is a Q/A.
00:00:00 - Introduction from the World Bank Managing Director and Chief Administrative Officer.
00:07:21 - Presentation of all the panelists by the moderator.
00:09:00 - Question to R3
00:14:08 - Question to the Bank of Canada
00:17:48 - Question to the OECD
00:26:45 - Question to the Milken Institute
00:39:32 - Question to R3
00:46:18 - Question to the Bank of Canada
00:51:52 - Question to the OECD
00:57:39 - Question to the Milken Institute
01:01:45 - Question to all and R3's answer
01:05:54 - Milken Institute's answer
01:07:10 - OECD's answer
01:08:30 - Bank of Canada's answer
01:10:30 - Questions
01:15:35 - Bank of Canada answer to privacy question
01:18:10 - OCDE answer to ICO's question
01:21:45 - Milken Institute's answer to M-Pesa vs Blockchain question
01:25:34 - R3's answer on energy issue and R3 Corda Settler advantages over PoW protocol
LotusFace reacted to Julian_Williams in Still XRP
This is a very interesting explanation of why XRP is lagging just at the moment
A good read : https://hacked.com/crypto-price-analysis-ripple-in-a-long-wyckoffian-accumulation/
Their conclusion is that when it goes it will shoot higher and faster than it did in 2017/18 - which is what many of us have been expecting.
LotusFace reacted to BobWay in Hi! I'm Bob
Sure, full disclosure wouldn't hurt.
No, I'm not working for Ripple in any capacity at the moment. Not that I'm against doing so (do you know how much my COBRA insurance costs!) If they'd like me to come back and do exactly what I'm doing now for pay (or even just insurance) I'd be happy to do so. But that position would have to come with the independence to say and do what I personally think is best for the community (and myself).
I retired from Ripple for three reasons:
Stefan was leaving to start Coil with many of the others from the research team that I was on. I really love Stefan. We are the best of friends! We both have huge respect for each other's skills. Together we make a great team. He sees the world one way. I seem to see the world from exactly the opposite direction. (like looking through different ends of a telescope.) But together we manage to synthesize our different initial viewpoints into amazingly unexpected final products. But Coil is in SF and I was/am happy to be back in Texas. Stefan had a specific vision he wanted to pursue and I knew that and support it. I have a different specific vision I want to pursue and he knows that and supports it. So I did not want to go work at Coil and distract them. But I'm not ruling out collaborating in the future. Ripple offered me two great options: I could stay working remote in another position I could take a very generous (in my scale) severance package. I had recently been diagnosed with prostate cancer and I've been struggling with diabetes. Ripple didn't know this at the time. I chose to take the nice severance package (Thank You Ripple!) and concentrate on my health. Since that time I've had radiation treatment for the prostate cancer and that seem to be responding nicely. I've also been (with huge help from my wife) changing my diet and getting more exercise. My weight is starting to fall and my glucose levels are responding nicely.
Of course, leaving also gave me the opportunity to pursue my "new crypto moonshot" as well. It turns out that will require me to step up publicly as a leader in order to promote that project. I'm not particularly comfortable being a "public frontman". So coming here gives me the opportunity to practice (pretending) being comfortable in public. And it also allows me to serve my own long-term personal financial interest as well by promoting Ripple and the RCL (I'm not a fan of the name XRPL)
So that's all about me. Let's talk a little more about Ripple.
As I mentioned in an early post, I was the first integration engineer for OpenCoin. I worked on the business development team for Patrick Griffin. My role was to talk to EVERYONE who was interested in doing anything with the Ripple ledger. I'm not inherently smart about the things I'm telling y'all. I'm only informed because very smart people kept asking to me with us to discuss their problems. My job was to figure out how to help all of them, no matter the industry, at that time. So if you go back to 2013 or 2014 with Ripple, you probably know me.
I was also asked by Nilesh Dusane to join his brand new sales team as the first sales engineer. We had worked together in BD while I was the only integration engineer. It turns out we split my original position into three separate departments. (Integration Engineering, Sales Engineering, and Customer Support) So I was happy to jump in and support Nilesh. He was the one that proposed that Ripple "try to sell our system" rather than give everything away for free. He postulated that having a zero price was actually a barrier to entry for banks rather than a facilitator. He formed the sales team to test that hypothesis. He was absolutely correct!
In my role of sales engineer I talked to almost every bank and banker we could get a meeting with. Sales is an interesting process. The grownup decision makers talk and decide there might be value in the proposition. But often the people high enough to green light a project don't have enough technical foundation to know if they are being bulls***ed. So at some point during the sales process, the grown ups always say something like, "It all sounds good, but I'd like you to talk to our technical lead and see...(reasons change here) ...but what is really doing is calling in a tech expert to play "tech jeopardy" with me in order to sniff out whether what we promised is real. The only way I know to play tech jeopardy without being called out for bulls*** is completely honestly. Sometimes painfully honestly. Because really, I'm not a sales guy, I'm an integration guy. I DIDN"T want to do a deal if the goals were impossible for the integration team to meet.
Did I mention that I was very outspoken within Ripple? I believe in being brutally honest with every Rippler. Even about our warts. This is because everyone commits to work WAY TOO HARD when they come onboard. You really need to make a strong personal commitment and you can't make it based on bulls***.
So curiously, some here might get a laugh out of this, while I talked to crazy numbers of people in my official capacity as sales and integration engineer...
...I was never officially allowed to speak to the public or press about Ripple! Go figure huh? I think the term I heard was loose cannon. Maybe because I was boring here.
So, 100% no. My discussion here is not Ripple sanctioned.
LotusFace reacted to hallwaymonitor in The next strategic direction for Ripple...channel partners?
I think if Ripple (and R3) will grow very large corporations in future then at some point their business model will change from DIY everything to software licensing & training. Good example for this would SAP company today that basically sells licenses to their software and they also organize very expensive trainings for consultant houses (Accenture, IBM, etc). Consultant houses (or channel partners) basically do everything else (install software, blue papers, Proof-of-Concepts, configurations, testing, debugging, programming, end user training, etc.).
The only consultant house that I know at the moment which can assist with Ripple software is Synechron.
LotusFace reacted to aavkk in The next strategic direction for Ripple...channel partners?
I was discussing this recently with @Hodor in that I noticed between R3 and Ripple each of the big consulting firms is represented as partners. It seems logical to me that Ripple would empower them to grow the network exponentially fast. I'll bet this is already in the works. To date Ripple has been working with new clients 1 on 1 as a start-up and learning what works and doesn't. Going from 0-200 customers takes a while and involves a lot of learning and tweaking of the products and services. But going from 200-1000 customers could take <18 months! Even though it was featured in the Ripple Drop episode about hiring integration engineers I'm betting you are correct @Pablo that Ripple plans to leaning on channel partners such as Accenture, Deloitte, HP, E&Y, BearingPoint, Capgemini and others at an increasing pace from here on out.
LotusFace reacted to Julian_Williams in Have We Hit Rock Bottom?
I am 65 so I expect in your eyes I am pretty much "old". I think you fail to understand age. Yes you can be hit by diseases which would make anyone's life uncomfortable, but as long as you don't take drugs or smoke your chances are that you will feel as fit as a 25 year old. The one thing I have noticed is my joints ache after a long car journey and I mustn't over exert in case I do my back in, otherwise can do almost everything like before. I would be safer in a Lambo than my 25 year old self and probably know how to enjoy it more, but Lambos are not my thing, never were. My car is a mobile garden, I have identified at least three species of moss and lichen on it. It turns heads and sometimes there are crowds around it when I collect it from a car park. A car doesn't have to be expensive to turn heads.
I think sex is better and pretty girls treat you with less suspicion (I am sure they find me less physically attractive, that disappointing) . My memory is less good but I understand concepts faster and my mind is more agile. Creativity is much higher. Interest in life and understanding other people is much higher. Not scared of death and I find the future ever more exciting and interesting. What's not to like about getting older and wiser?
LotusFace reacted to PickleRick in Stay strong!
Personally, I wouldn't be satisfied with only a few million. We all have our different targets. With only a few million, 30% or so of it is going to taxes. So now I'm left with a couple million. Then what? I buy some land, pay off remaining debts, buy a small business, and be left working again so I don't spend the remaining one million. Which will realistically only make me about $50k-$70k/year in interest from a diversified portfolio. Yawn.
I've always been a get rich or die trying person, and a few million just ain't "rich" enough for me. I want billions. That may not happen with my XRP holdings, but if I can reach my target, I can use that to catapult my way up to the three comma club.
Will I ***** and moan if I only make a few million? Probably not. Will I be satisfied? Not even remotely I just have wild needs and wants. Grandpa Rick is a greedy pickle.
Mostly, because I cannot effect change in the world on a large scale with only a few million. If I want to fly to a remote relocation that needs hospitals, and schools, and food and so on, I need to have a lot more capital to be able to truly change that location for the good. So on and so forth. I could rant for hours.
LotusFace got a reaction from HazzaHat in Better XRP PRICE rise soon. Wanna quit this lame job...:)
And don’t have children either. Especially pretty little fembot children.
LotusFace got a reaction from BecomeRich in Better XRP PRICE rise soon. Wanna quit this lame job...:)
And don’t have children either. Especially pretty little fembot children.
LotusFace reacted to AgamemnonUA in XRapid in use within a month
I am actually surprised at the speed at which this market is moving. From the first day I invested, I always expected that XRP (or any other crypto with real utility) will have its brightest days after a complete collapse of the entire crypto market. Right now, there are only three projects that have any kind of news that are of interest to somebody that would be a subscriber to the FT. These are Ripple, XLM and IOTA.
Everything else I am seeing is just a race to innovation or revamped roadmaps to either chase short-lived headlines or shoot extremely long speculative arrows into the future.
If it wasn't for the fact that XRP is technically a crypto, it shouldn't even be mentioned in the same sentence as 99.9% of all coins in the space. It's not just in a different room. It's in a different district together with XLM (probably Canary Wharf or Wall Street). IOTA would be outside of town and rule the Industrial zone.
So, from my perspective, the epic crash might be coming much sooner than I thought possible. Just call yourself lucky that XRP is currently between a rock and hard place. Hated by the crypto morons and shunned through association with crypto by the masses.
LotusFace reacted to XRPto50dollars in Charts - How To's
the posts i write with charts and figures take me a long time to make yet it only takes someone mere seconds to read it and move on. to save time sometimes the numbers are averages
see the 1508%? its between .38 and whatever the bottom number is... i think .025. no the numbers arent exact here, but if someone is going to complain about a difference between .05 to .40 versus .025 to .38... they have too much time on their hands
LotusFace reacted to Deeznutz in Good time to SELL and buy back later?
I sold and am just waiting and watching. If the market collapses and never recovers, I’ll have a tax write-off (since I didn’t sell at the ATH, HODLed, and am in the red) and still have that bit of money I would’ve lost. This is all predicated on the belief when I sold that the price would continue to fall. And it has. I believe the market will recover but not yet. The decision has already paid off. If I jumped back in now, I would have several thousand more Zerps than I did before.
My regret is believing that HODLing is the only way and not pulling the trigger earlier. HODLing can be just as risky as selling. My only advice to a new investor is to not take everything you hear here as gospel and don’t care if you’re talked down to- 99% of the forum members here don’t know any more than you do. And the very few who are condescendingly critical...they’re usually the ones talking out of their ***es.
I’m putting my blindfold on now so I don’t see who lights my ass up for this blasphemy.
LotusFace got a reaction from Palerider in If you could go back in time, would you sell at $3.50 if you couldn't reinvest??
Well, considering I held less than 250 xrp at the time of the ATH, I would say No. I echo Loki’s statement about what the bear market has meant for me....opportunity.