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crypto_deus

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  1. https://www.cryptocompare.com/ That's what Ripple uses as per https://ripple.com/insights/q2-2019-xrp-markets-report/
  2. They have their own end2end platform with proprietary architecture. They want you to have "freedom", either bullet 9 or bullet 11. You can do it the old way (SWIFT) or new way (ODL). For more see their front page https://beetech.global/en/ and https://ripple.com/insights/swell-2019-beetech-is-saving-customers-more-than-14-million-in-transaction-fees-with-ripplenet/
  3. https://www.youtube.com/watch?v=6ht3aTY79bc 50 minutes or so...
  4. Slides from https://beetech.global/en/ @Swell (see also https://www.ripple.com/insights/features/faster-cheaper-remittances-from-brazil-power-growth-for-one-small-business-in-portugal/) make you think... :) Thx @LeonidasH https://pbs.twimg.com/media/EI06zU4UUAESd5n?format=jpg&name=4096x4096 https://pbs.twimg.com/media/EI07opYVUAAk_3v?format=jpg&name=4096x4096 and this one https://pbs.twimg.com/media/EI08ZNMUUAAE2tO?format=jpg&name=4096x4096
  5. 'Sending love' runs on ripple! XXXRP the standard :-)! I see at least one use case with the first 2 words and several use cases for the whole sentence :-)! Great commercial though and smart that they focused on Asia with Asian actors. G7 countries, 10-15 years from now, are going to come mostly from there...
  6. IOHK made a nice research paper about "A Formal Treatment of Hardware Wallets" https://eprint.iacr.org/2019/034.pdf
  7. Note that not everybody has the same UNL. Hence the name unique node list! There's has to be a sufficient overlap though... Here is some reading. https://xrpl.org/run-rippled-as-a-validator.html It's important to understand that merely issuing validation messages does not automatically give your validator a say in the consensus process. Other servers ignore your validation messages unless they add your validator to their Unique Node List (UNL). If your validator is included in a UNL, it is a trusted validator and its proposals are considered in the consensus process by the servers that trust it. Even if your validator isn't a trusted validator, it stills plays an important role in the overall health of the network. These validators help set the standard that trusted validators are measured against. For example, if a trusted validator is disagreeing with a lot of these validators that aren't listed in UNLs, that might indicate a problem. https://xrpl.org/consensus.html#from_footnote_5 Each server defines its own trusted validators, but the consistency of the network depends on different servers choosing lists that have a high degree of overlap. For this reason, Ripple publishes a list of recommended validators. Read this topic too... https://www.scs.stanford.edu/~dm/home/papers/losa:stellar-instantiation.pdf In the XRP Ledger Consensus Protocol, each participant p is responsible for configuring its own UNL, which is a list of other participants that p will accept messages from. Moreover,p will accept as a quorum any set of participants consisting of more than a fixed fraction (defined system-wide by the protocol, e.g. 80%) of its UNL. Maintaining agreement in Ripple’s protocol rests on the assumption that participants will provide sufficiently overlapping UNLs -> roughly 90% for every pair of participants, in the most adversarial model of Chase and MacBrough
  8. https://www.ripple.com/insights/our-investment-in-bitso/ In 2018, remittance flows into Latin America and the Caribbean increased by almost 10%, with Mexico receiving the largest amount of these payments in the region with over $35.7B transacted every year. Remittances are vital for the economy and an important source of financial support for many households in the region. Ripple is excited to announce that we are leading an investment round in Bitso, the leading exchange in Latin America, and that Asheesh Birla is joining the board of directors. This innovative company plays a vital role in RippleNet’s US – MXN corridor by providing critical liquidity for payments. Earlier this year, Ripple launched On-Demand Liquidity (ODL) capabilities with MoneyGram into Mexico, with Bitso as the key exchange partner. As Ripple expands ODL in Latin America, so too will our partnership with Bitso. This innovative company plays a vital role in RippleNet’s US – MXN corridor by providing critical liquidity for payments. Earlier this year, Ripple launched On-Demand Liquidity (ODL) capabilities with MoneyGram into Mexico, with Bitso as the key exchange partner. Bitco is the largest exchange in Mexico with a customer base of 750,000 and counting. Bitso’s products have a strong focus on ease of use, which has helped drive the adoption of cryptocurrency among a broad audience including retail consumers, traders and institutional customers. Two months ago, Bitso became Latin America’s first DLT licensed exchange regulated by the Gibraltar Financial Services Commission (GFSC). With this license, Bitso is poised to be one of the most innovative and consumer-friendly financial services providers in LatAm. The Bitso team is unparalleled—their technology was built from the ground up through years of experience with scalable and reliable distributed systems.
  9. I'm sure that today a guy called Craig Never-Wright will probably announce that he's Hodor :-)))! All right @Hodor, thanks for the heads-up about your future plans and thank you very much for all that you've done for the XRP-community! Respect (wo)man :-)!
  10. They called it "beta" ;-). -> https://www.ripple.com/insights/much-ado-much-to-do-part-3/ We released xRapid and xVia in beta last summer (2017) and have built strong customer pipelines to pilot each. xRapid uses XRP to enable on-demand liquidity. xVia standardizes connections to different FIs across different networks. Early adopters of xRapid are payment providers. xCurrent customers are increasingly interested in learning more about xRapid because it further reduces costs. What? You didn't know this, no way! It was online since 2017. Hodor, we are all very disappointed now ;-)))))))). -> https://www.ripple.com/insights/ripple-rolls-300m-ripplenet-accelerator-program-grow-volume-xrp-utility/ We’re borrowing a page from the likes of PayPal (with their early days adoption and referral bonuses), implementing incentives to accelerate network effects on RippleNet. Since we’re offering the incentives in XRP, we anticipate seeing an added benefit of building an easy on-ramp for institutions to use XRP in their payment flows to lower liquidity cost in the future. Early reception of these XRP incentives in a test phase has been very positive. Thanks for the post, good read!
  11. https://ubri.ripple.com/ has been changed, now you need login credentials...
  12. Now taking the whole thing even further. Who's got the large amount of XRP (billions...)? Who's working with 200+ FIs? Imagine Ripple and its partners come together and issue a (XRP collateralized) stablecoin on XRPL. One or several of them of them could become a "narrow bank" . Etc., etc... Here you can really talk about the store of value as well as means of payment... However, many will probably see too many middlemen in this proposal that crypto, originally, tried to kill if I'm not mistaken...
  13. In his latest blog post (https://coil.com/p/Hodor/Acceleration-/3dawvDvgk) Hodor made a nice summary of two IMF blog posts: https://blogs.imf.org/2019/09/19/digital-currencies-the-rise-of-stablecoins/ Adoption of new forms of money will depend on their attractiveness as a store of value and a means of payment. New entrants like stablecoins, however, are significantly different from the popular incumbents: cash or bank deposits. While many stablecoins continue to be claims on the issuing institution or its underlying assets, and many also offer redemption guarantees at face value (a coin bought for 10 euros can be exchanged back for a 10-euro note, like a bank account), government-backing is absent. Trust must be generated privately by backing coin issuance with safe and liquid assets. And the settlement technology is usually decentralized, based on the blockchain model. Times are changing. USD Coin recently launched in 85 countries, Facebook announced Libra, and centralized variants of the stablecoin business model are becoming widespread. So why are stablecoins taking off? The strength of stablecoins is their attractiveness as a means of payment. Low costs, global reach, and speed are all huge potential benefits. Moreover, stablecoins could allow seamless payments of blockchain-based assets, and can be embedded into digital applications thanks to their open architecture, as opposed to the proprietary legacy systems of banks. But the strongest attraction comes from the networks that promise to make transacting as easy as using social media. Payments are more than the mere act of transferring money. They are a fundamentally social experience linking people. Stablecoins offer the potential for better integration into our digital lives and are designed by firms that thrive on user-centric design. Large technology firms with enormous global user bases offer a ready-made network over which new payment services can quickly spread. Risks abound, however—so policymakers must create an environment that maximizes benefits and minimizes risks. Policymakers will need to innovate and collaborate across countries, but also across functions. Here are six observations for them to consider. First, banks may lose their place as intermediaries if they lose deposits to stablecoin providers. But banks are not sitting ducks. They will surely try to compete by offering their own innovations (and higher interest rates). Also, stablecoin providers could recycle their funds into the banking system, or decide to engage in lending by extending deposits themselves. In short, banks are unlikely to disappear. https://blogs.imf.org/2019/09/26/from-stablecoins-to-central-bank-digital-currencies/ As privately issued stablecoins continue to encroach on more traditional forms of money—like cash and bank deposits—policymakers will not simply look on from the sidelines. They will arbitrate. Their rules and actions will determine how we will eventually pay for everyday items like a cup of coffee, and, more importantly, will affect the structure and risks of our financial sector. Our last blog introduced stablecoins—cryptographic tokens that can be easily exchanged, benefitting from minimal price volatility relative to cash. Consumers might quickly adopt these new, cheaper, faster, and more user-friendly services integrated into their social media platforms. However, these also come with notable risks that require prompt regulatory action. One possible regulatory path forward is to give stablecoin providers access to central bank reserves. This also offers a blueprint for how central banks could partner with the private sector to offer the digital cash of tomorrow—called synthetic central bank digital currency (sCBDC) The regulatory imperative Whether stablecoins are indeed stable is questionable. Stablecoin providers must privately generate trust in their liabilities—the very coins they issue. Many do so by backing coins one-for-one with assets of the same denomination. So if a stablecoin owner wanted to redeem her 10 euro coin for a 10 euro note, the stablecoin provider could sell the assets for cash to be pay out on the spot. Or could it? Much depends on the safety and liquidity of the underlying assets, and on whether they fully back the coins in circulation. It also depends on whether assets are protected from other creditors if the stablecoin provider goes bankrupt. Will the stablecoin owner get her money back any time she wants? Even if her peers attempt to sell their coins all at once, in a panic? Regulation must eliminate these risks. One option is to require that stablecoin providers hold safe and liquid assets, as well as sufficient equity to protect coin-holders from losses. In essence, the call would be to regulate stablecoin providers despite them not being traditional banks; not an easy task we have found out. Central bank backing Another approach is to require stablecoin providers to fully back coins with central bank reserves—the safest and most liquid assets available. The solution is not novel. The People’s Bank of China, for instance, requires giant payment providers AliPay and WeChat Pay to do so, and central banks around the world are considering giving fintech companies access to their reserves—though only after satisfying a number of requirements related to anti-money laundering, connectivity between different coin platforms, security, and data protection among others. Clearly, doing so would enhance the attractiveness of stablecoins as a store of value. It would essentially transform stablecoin providers into narrow banks—institutions that do not lend, but only hold central bank reserves. Competition with commercial banks for customer deposits would grow stronger, raising questions about the social price tag. But there are also clearer-cut advantages. Chief among these is stability, as backing is in perfectly safe and liquid assets. Another is regulatory clarity, as narrow banks would fit neatly into existing regulatory frameworks. Moreover, different stablecoins could be seamlessly exchanged thanks to the central bank settling all transactions. This would enhance competition among stablecoin providers. Additional benefits include support for domestic payment solutions in the face of foreign-currency stablecoins offered by monopolies that are hard to regulate; and better monetary policy transmission if pressure on currency substitution were alleviated, and interest rates were paid on reserves held by stablecoin providers—however distant the prospect. If stablecoin providers held client assets at the central bank, clients would indirectly be able to hold, and transact in, central bank liabilities—the essence, after all, of a “central bank digital currency.” In practice, the coins would remain the liability of private issuers, and client assets would have to be protected against the bankruptcy of the stablecoin provider. This synthetic central bank digital currency—or “sCBDC” for short—offers significant advantages over its full-fledged cousin, which requires getting involved in many of the steps of the payments chain. This can be costly—and risky—for central banks, as it would push them into unfamiliar territory of brand management, app development, technology selection, and customer interaction.
  14. Anyway, we'll get a talk at https://www.econclubny.org/ and a Pomp-interview on Tuesday. Now you know why it will be on Tuesday, the interview gets more attraction for sure...
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