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Lukeeboy

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  1. This is exactly what is happening in India...They did the same thing for VoIP saying it was illegal way back in 2015!!!
  2. I reckon this is a requirement for banks in India to start with
  3. Its just a matter of weeks I would assume, considering they have already hired someone highly experienced to handle this recently: https://www.ft.com/content/1a292668-ff8b-11e7-9650-9c0ad2d7c5b5
  4. @Hodor ..you need to combine all your blogs and convert it into a book...Its going to be a mega best seller for sure...You definitely are the XRP Messiah....Thank you again for everything!!!
  5. Wouldn't be surprised if Veem gets acquired by Ripple. SBI Holdings have also invested in both these firms. Otherwise this could be my silly imagination!
  6. Great passion...Thanks for sharing your fantastic insights. Appreciate it!
  7. If the government can tax/have control to track these coins and squeeze money out of the users, they should be happy I guess coz right now they are scratching their heads on how to tax people in cryptoland. I am wondering what role the banks will play when the FAAAMNG guys (Facebook, Apple, Alibaba, Amazon, Microsoft, Netflix and Google) come on board with their own coins and promote the same within their community which is in the billions of users worldwide. No one knows brands such as China Mobile/Verizon (telecom), Bloomingdale/Walmart (retail), NYT/Guardian (Newspaper) and so on when compared to FAAAMNG who are all trying to be horizontal enablers across various industries (ask Amazon or Virgin who are even trying to mine things in space!). Leveraging on their brand alone can enable these new players to attain a sustainable competitive advantage in the long run! Looking at the market, there are around 2 billion users that still do not have a bank account and most of the remittance happens in emerging markets with Africa being the costliest to send money across. This market alone is good enough for the FAAAMNG guys to start with and then tap the developed markets later on (we have seen how the US have been slow to adopt chip and pin compared to say markets such as India). From a GDP YoY growth perspective, most of the growth is from emerging markets with the middle class growing exponentially leave alone the huge aging population crisis in developed markets such as Japan (albeit the silver spenders have loads of money but again they tend to spend that money on them if next generation services enabled with disruptive technology is made easy for them to understand/use...That's why I think the NXT blockchain platform is trying to address that issue as voting will be more credible, immutable and easier to do compared to existing alternatives). So my question is if the big banks in developed markets especially in the U.S. are going to be hesitant to use XRP due to cultural issues more than technological issues, would Internet/OTT companies and emerging markets take advantage of this opportunity, as in the future I can imagine even in the bricks and mortar retail world (think Amazon Whole Foods) , they could only accept crypto coins and disrupt players such as Costco -who are currently only accepting payments with VISA credit cards, debit cards and cash in order to avoid high transaction fees (which as a result they pass onto to the end-user with competitive pricing in the Costco stores). Long story short...people (especially technology laggards) force themselves to change their existing traditional patterns (like how Prime Minister Modi forced Indians to adapt to Aadhar and mobile payments via demonetization) if they have a platform that will empower them to do so and help them to save loads of $$$ (just like me planning my shopping at Costco when my fuel tank goes low coz I can also save some $$$ while filling gas there though I have a gas station right next to my house albeit itmore expensive). I reckon if this medium of exchange pattern changes towards cryptoland and govts such as Singapore don't have issues with it https://www.bloomberg.com/news/articles/2017-10-24/singapore-won-t-regulate-cryptocurrencies-remains-alert-to-risk , then its going to be pretty interesting to see how governments worldwide leverage on blockchain and cryptoland to take advantage of this disruptive technology and who knows, it probably would be countries in the Middle East (think Dubai, Saudi Arabia, Qatar) taking a formidable lead with their leadership acknowledging the same, which I believe is very very important as one might have the best crypto teams developing the best blockchain platforms in the world but if your leader is not visionary, it will get you no where (this is applicable not only to governments focused on developing smart cities of the future but to the CORPORATE world as well). https://www.wsj.com/articles/dubai-aims-to-be-a-city-built-on-blockchain-1493086080 https://www.washingtontimes.com/news/2017/oct/24/saudi-arabias-new-city-neom-mecca-robots/
  8. Lets imagine an ideal world where regulations for cryptocurrencies are all sorted out and banks have started to accept regulated crypto coins as well. So lets say Amazon comes with its own coin...lets call it OTTA and Uber's coin as OTTU So in an ideal world, would be it much faster and cheaper to do an atomic swap and use your Amazon coins for Uber {OTTA->XRP->XRP->OTTU} vs. involving fiat transactions such as {BTC->XRP->XRP->USD} if this does makes sense (forgive me if it doesn't coz of the Halloween sugar rush), then would not Ripple's primary customers in the future be Internet companies instead of banks coz the concept of cashing out in fiat currencies wont exist if there's a huge demand and supply to transact only using cryptocurrencies --- provided these coins are regulated by the government, can be taxed by the government but people can make a choice if they need to use crypto coins issued by banks or the government. By looking at what OTT and social media players such as Amazon, Facebook, Google ,Softbank et al. are all trying to do with addressing to bandwidth and last mile issues (check link below) http://www.fiercetelecom.com/telecom/amazon-facebook-and-softbank-to-build-new-14k-submarine-cable-system ; my gut says that people would just use coins issued by the OTT players (emerging markets such as India are only using Whatsapp for Voice, video and messaging services) and in the future this might be one of the sticky factors for such players to have an edge over the incumbents, though I am pretty sure the incumbent service providers might use deep packet inspection for cryptocurrency transactions (ok I made that up) and delay the transactions significantly just how they throttle/block Skype and Whatsapp in markets such as Dubai. These were some random thoughts in my head and I apologize if this was discussed in the past or I am talking absolute rubbish Thanks...Luke
  9. In my humble opinion, the best opportunity for Ripple to gain massive global scale in a short period of time is to join forces with SWIFT. SWIFT has no expertise in Blockchain as Ripple does and Ripple does not have the global penetration that SWIFT does. Banks are part of the SWIFT community and if they have a roadmap to scale from SWIFT to RippleNet and also use XRP eventually, it will benefit the industry and end-users as a whole. QUALCOMM realized this in the CDMA world and eventually shifted gears to the LTE world instead of following the EVDO roadmap. Ripple would need to do the same thing (if they want to make an immediate impact) and if that happens, its all the way to the Mooon for all you XRP HODLers
  10. I am not sure how many of you are at the Swell event but it will be great to catch up at the party tonight (which I should be heading out in an hrs time). I am in a rush to attend a meeting, so kindly ignore the grammatical errors. On my first day at Swell, I got the impression that it was a last minute thing as the conference area was really small, taking into consideration of the big guns who were speaking at the event. This kinda made me (and many others who I networked with) to think that there is going to be a huge announcement coming up shortly. Keynote speakers Bernanke and TIm Berners-Lee were giving a flashback of their time during the financial crisis and why the Internet was created BUT did not somehow vet Ripple making a fundamental change or creating a revolution in the financial/blockchain space (at least to me). Apparently they had some kinda get together on Sunday night which was focused on the Gates foundation announcement but many within the audience were curious to know if that was the "cat out of the bag announcement" that Brad was talking about during his Quora interview. If I was disconnected from the Internet during the Swell event, I would have had no clue about the Gates foundation announcement till Stefan mentioned about it in the last session today. Many asked me if I saw or spoke with Joel Katz and at least in my eyes he was not visible over the past 2 days. Probably he might make an appearance at the party later tonight! On top of that, the customer celebration party is kinda misleading (at least to me) as it made me think that they are going to announce a new customer (probably I will find out over the next few hours...you never know). If it was supposed to be their existing customers celebration party...they clearly forgot to put the "s" after the Customer in the Eventbrite pass. All in all, this was a great day for Ripple but not necessarily for XRP investors. The banks I spoke with were clearly not looking at XRP at this point of time (but u never know if they were under a NDA) but were more interested in solving some of their burning issues that Ripple's product suite currently addresses and they had a very high opinion on. This is a journey for Ripple and it kinda reminds me of QUALCOMM during their CDMA vs. GSM days albeit Ripple has a more open approach. I think the banking industry needs to realize that they need to act swiftly as they will have to compete with next generation banks who just offer financial services via a mobile app and the fact that social media companies are planning to diversify into financial services, we have seen this with OTT players and now in retail thanks to players such as Amazon. I keep thinking at times , if you have a global community of users wanting to just use cryptos to buy/sell stuff, then the banking industry (probably the fear behind regulators in figuring out how to tax people in such a system) could be impacted and during Vitalik's talk (the guy is pretty unique I must say), he kinda trash talked the banks although he did mention at the same time he viewed RIpple, Hyperledger and Chain to be his friends rather than enemies (which is pretty interesting). It will be interesting to see what happens to XRP once the escrow happens this year and who will actually use (banks vs. retail) and how/why (use cases?). It will also be interesting to see if Ethereum will form an alliance with Ripple to realize synergies of smart contracts on Ripplenet (akin to Ripple's erstwhile Codius project). Even interesting is how Hyperledger is going to maintain a fine balance with Project Quilt by working with Ripple/NTT Data, and IBM's recent announcement on Stellar Lumens. So here's the thing. As of now, there's no major earthshaking announcement by Ripple that might make people (especially XRP investors) go Wowwww. Despite that, they were able to pull in some really well respected speakers from both the traditional banking space and blockchain world (including some competitors I would say) to speak at the event and spend good quality time (like they made Bernanke literally speak and answer questions for more than a hour). I think Ripple's on the right front by talking to banks and regulators(which is quite a challenge on a global scale), and changing the mindset of such organizations takes time and loads of patience. All in all, I learnt a lot about Blockchain and RippleNet at the event and to all the XRP investors out there---HODL --- Ripple has a great vision for the future and executing their strategy to reach that vision takes time/networking/negotiating --Like the saying goes...Rome was not built in a day! Off to the party now and on that note...All the way to the Moon folks:)
  11. So I asked the banks during one of the sessions about their time lines to use XRP and none of them gave a positive response towards the adoption of XRP. Maybe I'm ignorant but I don't understand the rationale behind the escrow if banks are not going to adopt it.
  12. Your blogs are the easiest way to convince/educate anyone about the huge prospects of Ripple/XRP and Ripple should be grateful in having such a highly knowledgeable and passionate investor marketing their use cases and sustainable competitive advantage over alternative coins/blockchain platforms...Fantastic read once again...Keep up the good work and thanks for taking the time in providing such valuable insights!!!
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