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WrathofKahneman

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  1. (Note - I was in too big a hurry: MC is not a Ripple investor)
  2. Update: Mastercard, a Ripple investor, has pledged $500 million next year, $2 billion over 5-6 years to Egypt. In particular they are going to help the government with advanced digital payments infrastructure, e-payment services and SME funding. Source: https://alborsaanews.com/2019/10/16/1255453
  3. They are not using XRP but liquidity could be sourced from MoneyGram Pakistan, for instance, in local fiat. They are not allowed to hold the digital asset yet. http://moneygram.pk/
  4. I don't know the specifics of the LG initiative yet, but I suspect the Ripple advantages are the familiar ones; interoperability, liquidity and speed. Payments in chat are already here, and XRP makes great sense for people sending money home over chat across borders. The same seems true between companies across borders. None of the companies would have to keep foreign currency on hand if they can source it almost instantly at an XRP gateway (MGI, maybe?) And of course, instant settlement. A purchase that involves XRP is immediately settled, dispensing with a lot of complicated payment rail infrastructure. This helps companies forecast their finances much more accurately instead of waiting for netted sums in the pipeline. For the telcos this is especially attractive given how many towers and charges a single call during a daily commute can hop different networks, especially travelling across borders. Using blockchain to track & reconcile the charges and settle with XRP would be attractive for its liquidity and foreign currency settling. It also seems like a helpful setup for streaming payments as well. It's a good question - I hope we get to see real world answers!
  5. Thanks to @xrpNuts (Twitter) who found this in some of the Ripple literature for a telco conference. They claim Top-15 telcoms are engaging & implementing. Further evidence they are involved already. https://imtconferences.com/?wpfb_dl=49
  6. Hypothesis: Ripple has decided to seize upon the looming messaging app payment revolution in addition to their known efforts to engage payment companies for cross border remittance. 1) A Year ago Ripple hired Amir Sarhangi away from Google. "Sarhangi joined Google through its acquisition in 2015 of Jibe Mobile, a startup he founded and led that developed technology for wireless carriers to adopt Rich Communication Services." Beyond whatever organization and leadership skills he may possess (which I am in no position to assess), his innovation with RCS is very important. 2) RCS is the SMS replacement that allows for robust data and provides important business opportunities for both consumers and business messaging. It aspires to be more interactive and interoperable than SMS and has the potential to replace apps - you wouldn't have to download the Domino's app to order a pizza and collect cholesterol points if you can do it in the same chat your train tickets are in. Same with passes, travel, etc. This, in turn is handy for corporate expense accounts and group chats. With instant, trackable data, it could make customer engagement easier. 3) Sarhangi's Jibe Mobile was an RCS innovator providing cloud-based virtual IMS, IP messaging, video chat, and developer API gateways to mobile network operators. Building on this, Google announced it has worked with every major cell phone carrier in the world to adopt RCS as of 2018. Here is a slide from one of his presentations with Google (and GSMA) about the potential benefits: 4) Why does Ripple care? WIth great potential for mobile payments and mobile banking, it pays to care about RCS. Mobile payments are inclusive and open up, quite literally, the whole world as a market. Remember, Asheesh Birla said that Ripple considered giving away XRP to everyone in India but decided instead to target telcos & mobile phone providers where banking actually occurs: In a recent interview, he expressed exciting ideas about the global nature of cross-border payments that comport with this: 5) Messaging apps are the future of payments, and the competition has a head start. WeChat, the holy grail of messaging apps (well, it's big any ways), is the kind of thing Ripple enthusiasts hoped would adopt XRP. Facebook and iMessage already allow for P2P money transfers but increasingly the push is towards using messaging for POS. LG recently entered the RCS payment race with a trial of the Cross-Carrier Payment System. The system uses blockchain because, " it works via APIs it can be effectively coupled with RCS enabling frictionless yet cheap local and overseas payments." While MoneyTap is a push into the arena utilizing Ripple, there is great incentive for Ripple to bring the instant settlement of an XRP based product to market over RCS. 6) Sound like lot of data? It is, hence carriers rolling out 5g. Somebody has to pay for all that RCS data. This, too, is an arena where mobile operators are looking into DLT for streaming charges, and cross border digital wallets; again a perfect XRP use case. This report is from Accenture, a Ripple enabling pay channel. Imagine both consumer payments over RCS and the and the charges for the data moving over the XRPL independently 7) There are two snags with RCS. One drawback is that like SMS, messages are not end-to-end encrypted. Second, Apple has resisted RCS preferring their integrated apps. There are hints though that they are coming around - if every carrier adopts the RCS protocol, then pressure will mount to join. 8) Sarhangi is an RCS pioneer, someone who can help Ripple integrate into mobile networks. Perhaps his hire was an indication of a direction Ripple is pursuing to capture mobile payments. (apologies for stilted posts - were originally tweets, but just too long) References 1) https://www.reuters.com/article/us-ripple-moves/blockchain-startup-hires-away-googles-messaging-tech-leader-idUSKCN1N02QA 2) https://www.digitaltrends.com/mobile/what-is-rcs-messaging/ 3) https://www.gsma.com/futurenetworks/wp-content/uploads/2018/03/Google-Amir-Sarhangi-MaaP-Seminar-MWC18.pdf https://www.rcrwireless.com/20190408/opinion/rcs-texting-reader-forum 4) https://www.express.co.uk/finance/city/987173/Bitcoin-price-ripple-india-cryptocurrency-ethereum-BTC-to-USD-XRP-news https://dailyhodl.com/2019/09/11/ripple-exploring-entry-into-global-micropayments-industry/ 5) https://cardconnect.com/launchpointe/payment-trends/messaging-platforms-pos https://ripplecoinnews.com/lg-corps-and-cbsg-consortium-plans-to-rival-ripple-trials-cross-border-payment-solution 7) https://www.forbes.com/sites/quora/2017/06/16/what-is-apple-business-chat-and-why-is-it-important/#2136c30b19c0
  7. Someone at PNC confirmed the news. Still, the first? What happened to CrossRiver Bank? https://www.ripple.com/ripple_press/cross-river-bank-to-integrate-ripple-for-real-time-international-payments/
  8. To @ADingoAteMyXRP's point - I am curious about the big picture vision, too, as what we've seen of the content monetization doesn't appear that impressive. I only have one internet subscription to manage. My pet theory is that coil becomes a way for cable/telcom/ tv channel providers to offer channels à la carte finally; a partnership w/ Disney and their acquired streaming services as the flash point. Could be excellent, but the strategy is still opaque to me.
  9. An update: An unnamed official told the state news agency, MENA, that the proposed banking act, to be introduced as of May to the House of Representatives: Gives the CBE regulatory power over the use of cryptocurrency in Egypt Will create a fintech sandbox Companies looking to establish digital currency and cryptocurrency platforms will be required to obtain licenses This is a step forward given banks are forbidden from using crypto/digital assets currently. https://www.alborsaanews.com/2019/05/28/1208675 For reference, Cointelegraph produced a great infographic about Egypt's crypto positions. Also worth noting, Egypt has recently signed an MOU with Dubai regarding financial oversight/regulation/crime. They have had a close relationship for a while, of course and I probably don't need to tell you Ripple has offices in Dubai, which while tantalizing, is not the point. http://www.mondovisione.com/media-and-resources/news/dubai-financial-services-authority-signs-mou-with-the-central-bank-of-egypt/ Finally, Ripple partner remittance firms MoneyGram and dLocal both service Egyptian corridors, though there is no indication of Ripple use there. https://nilsonreport.com/upload/issues/1137_7722.pdf http://moneygram.eg/en
  10. This is very exciting and I hope productive for the Ripple use-case development! One concern is that the foundation is receiving/disbursing monies and yet all we know of the board are their twitter cartoons and avatars. I am not aware of the legal jurisdictions involved, but I don't think it's a reassuring look to people who are not already aware of these characters and their participation in the Ripple conversation. Will this be changing or is it intended as a proof of the robustness and transparency of a public ledger? Anyways, looking forward to great things from this creative endeavour. Cheers.
  11. The patent is for identity on blockchain and the figure (8) that lists Ripple is a taxonomy of different types of blockchains. It isn't about Ripple, it's about identity tracking w/ various chains. For example, just below the mention of Ripple, Bitcoin is mentioned as a untrusted consensus chain. Hopeful in that they are looking towards the future but not a plan for Ripple specifically.
  12. Interesting. Cruz was listed as a strategic advisor earlier, too, so I don't know if it represents a structural board change or website organization. Good catch, though.
  13. I'm a little more skeptical of the pan-African initiatives these days given the different political environments, so I tend to focus on national development. The Gates Foundation is influential, but won't primarily determine banking in Africa; my hunch is Egypt (and S.Africa) could drive African adoption, not the other way around. I'm still not sure what to think of Mowalli but Mojaloop is primarily for domestic payments, not international, and IIRC they have stated that it will not use XRP, but Egypt has cross-border needs and close ties to the Middle Eastern banks and governments already using Ripple more than those of central Africa. When banks build out their mobile networks, the ILP will really come into play.
  14. I think Egypt is a place ripe for Ripple adoption. Of course, I hope this about most places so here is some data that makes it worth keeping an eye on. [1] In the most general of ways, the situation in Egypt might seem familiar to the situation in India: the government has alternately outlawed and permitted crypto. Currently it is not exactly clear where they stand on it, but there has been a recent legal push towards licensing. [https://cointelegraph.com/news/egypt-lays-out-path-for-a-crypto-future-with-draft-law ] [2] The country intends to move towards a cashless society, but they have a very high amount of unbanked people. [ https://www.egypttoday.com/Article/3/68491/Sisi-approves-cashless-methods-of-payment-law ] To this end, the government is working on a unified card for citizens to receive all their government entitlements such as salaries, pensions or subsidies, tied to either a bank or an Egypt Post account. They are also "working aggressively" on encouraging mobile money & mobile wallets use. Government is also working with the CB to offer microfinancing through mobile applications. This effort will provide banking to 20mill + unbanked. [ http://www.theworldfolio.com/files/file/report-5cae38c273220.pdf ] (Left & Right columns) [3] Significantly, these efforts are connected to a three-year programme, FIGI, led by ITU, the World Bank Group and the Committee on Payments and Market Infrastructures (CPMI) of the Bank for International Settlements, with support from the Bill & Melinda Gates Foundation... [https://news.itu.int/how-egypt-builds-trust-digital-financial-services/ ] Likewise, the use of Post Banks for financial inclusion is something the Universal Post Union, with support from the Gates Foundation, has been behind. [http://news.upu.int/no_cache/nd/gates-foundation-helps-upu-support-partnerships/] [4] Recently, the Central Bank of Egypt, in december, said it will issue a digital currency [ http://en.amwalalghad.com/egypts-central-bank-studies-issuing-digital-currency-official/ ] While it is not clear what platform might be used, it is worth noting that the government owned National Bank of Egypt and the largest private bank, the CIB are both members of R3, Voltron. This largest private bank and R3 Partner, CIB, intends to build out a DLT network in 2019. In their EOY 2018 annual Report, they claim to have tested "different use cases for potential development into live projects and built a local blockchain network for banks and different financial services providers" [https://www.cibeg.com/English/InvestorRelations/FinancialInformation/Annual Reports/Annual Report 2018_002.pdf ] [5] Another piece of the puzzle might be that Kuwait's NBK, a Ripple partner, has a significant presence in Egypt and their other neighbors, Saudi Arabia are also involved with Ripple. So too, UAE, and the major bank in Oman. [6] Finally, consider that Egypt's Suez Canal Economic Zone, has deep ties with Russia. Russia is building a huge economic zone in this trade/port center for Russian manufacturing and trade with Africa, Middle East and Europe. Putin claimed $7billion will be invested. At the same time, with so much trade finance at stake, both the EU and Russia are investigating alternatives to SWIFT to avoid US financial control. [https://www.rt.com/business/452047-russia-industrial-zone-egypt ] [https://uk.reuters.com/article/russia-banks-swift/russia-backs-global-use-of-its-alternative-swift-system-idUKL8N2163BU] [https://english.mubasher.info/news/3333401/EU-starts-SWIFT-alternative-money-transfer-system] [7] In 2018, Egypt received the 5th largest amount of remittances. The first list: India China Mexico Philippines Egypt That list should look very familiar to Ripple fans... [https://migrationdataportal.org/themes/remittances ] /end
  15. Your thoughts here and in the other thread are on point; well said. I'm hoping for micropayments in things like utility bills, not blogs.
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