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The search for real value in blockchain technology is afoot! We've all been there; searching through any evidence for a good investment, trying to separate online hype from reality. In this blog, I describe some of the recent progress Ripple has made with their banking clients & cover some recently-released videos, including on in which David Schwartz sits down for a joint interview. On the community front, there are a couple high-profile events to discuss as well, with the main one being the new symbol for XRP! Hope you enjoy the read & please leave any feedback below. Also, feel free to share my blog with a friend or on any other platform - and thank you for doing so! Twitter Reddit r/Ripple Reddit r/CryptoCurrency Reddit r/CryptoMarkets Reddit r/xrp Reddit r/RippleTalk Reddit r/alternativecoin Bitcointalk - alt coin sub forum Bitcointalk - XRP speculation thread
translated from: https://btcdirect.eu/nl-nl/blog/abn-amro-franx-ripple/ Dutch company is experimenting with Ripple Franx is going to experiment with the Ripple protocol. The subsidiary of ABN AMRO specializes in international payment transactions. In this way, Franx is looking for ways to process international payments faster. That reports the ANP. What makes Ripple different from SWIFT? At the moment most banks and payment processors still use the SWIFT protocol. This is a system that allows banks to transfer money to other banks. Even if they do not yet have any cooperation with that bank. Swift has been the standard worldwide since 1977, but the system is rather slow. It usually takes a few days for a SWIFT payment to be processed. Franx is actively looking for a solution to replace this old system. At the moment, the Dutch company is experimenting with the Ripple system. The Ripple protocol has been developed to process international payments on the blockchain. It can process more than 1500 transactions per second under normal circumstances. If necessary, the protocol can even scale up to 50,000 transactions per second . Ripple must therefore make the transactions processed by Franx especially faster. In addition, a payment via Ripple is a lot cheaper than a SWIFT payment. Do you want to make a 100 euro payment from the Netherlands to the US via Swift? Via Swift you pay 15 euros to commissions. The same payment to China will soon cost 21 euros to commission! A payment via the Ripple protocol, on the other hand, costs only a few cents . How does XRP work? Ripple offers lower transaction costs by using the XRP coin. Banks can simply buy a stock of this coin and use it to make mutual payments on the blockchain. Certainly if you want to make a payment to a distant country, where normally the money comes to the destination via different banks, this can be a big deal. Because the coin is also traded on crypto exchanges, customers (banks for example) of Ripple always have a kind of deposit. They know for sure that they can always convert their XRP into fiat money. Conversely, crypto investors have the certainty that their investment in XRP does represent a certain value. The more banks use the Ripple protocol, the greater the demand for the XRP coin. What does Franx see in Ripple? "The idea behind Ripplenet is very strong," says Evert van der Hoorn, project manager Blockchain at Franx. Van der Hoorn emphasizes that it is important for its customers that they have the certainty that their products are paid as soon as they ship them. Ripple facilitates the fast transactions that are necessary to make this possible. He also says that it is important for Franx to become less dependent on SWIFT. However, Franx will remain dependent for a part on the SWIFT protocol. For Ripple is by no means such a broad base as for SWIFT. This is quickly changing. Meanwhile, larger banks such as Bank of Tokyo Mitsubishi and Santander are already using the Ripple network. The experiment with Ripple runs until the autumn of 2018.
Hi ALL, I have been following this forum for some time now. And i just wanted to share some information with you all It seems ABN AMRO one of the bigger dutch banks is also in contact with ripple. **Er is contact met Ripple, Patrick. We houden het in de gaten en kijken steeds wat het beste is. Wat vind jij de voordelen van Ripple? ^Jan** TRANSLATION: There is contact with Ripple, Patrick. We keep an eye on it and always look what's best. What do you think of the benefits of Ripple? ^ Jan
Hi, Today i read this article in the Dutch media about a Dutch bank Abn Amro, offering a new service, flash payments. Seven or eight banks in Europe participate in this new service where you can sent money to another bank in the European Union and the transfer only takes 10 seconds. They want to speed it up to five seconds. https://www.google.nl/amp/s/www.volkskrant.nl/economie/binnen-10-seconden-is-je-geld-binnen-abn-amro-eerste-bank-met-europese-flitsbetaling~a4522250/amp A while ago i read something about Ripple and the European Payments Council. https://www.europeanpaymentscouncil.eu/news-insights/insight/ripple-internet-protocol-inter-bank-payments?articles_uuid=328206CF-5056-B741-DBF388D80399074B Anyone heard about this? Edit: Did not see that somebody else already started the same topic.