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  1. Blockchain has begun disrupting various business processes, governance systems, and value exchange. However, the sectors that are terrified the most with this technology is Banking and Fintech industries. Only ten years old, the distributed ledger technology that empowers cryptocurrencies has demonstrated how it can revolutionize the banking architecture, propose faster and cheaper global trading gateways and eradicate third parties in numerous industries. Thus, making the conventional banking system seem archaic. However, the finance and banking industries are also not here to sit idle either. According to Stewart Brand,” if a new technology rolls over you, if you’re not part of the steamroller, you’ll become a part of the road.” Banks seem ready to join the bandwagon to discover blockchain applications in banking so they can keep their financial operations relevant. But with the embracement of blockchain by banks, the future of finance, and banking lie in the hand of DLT (distributed ledger technology) startups. The startups like SWISTs, VISAs, and future banks are leveraging existing financial infrastructure to develop cutting-edge decentralized banking and finance systems. Ripple and Stellar: Ready to enter the World of Traditional Banking At the core of this new banking revolution, there are two prominent organizations, Ripple and Stellar. These two blockchain companies, Ripple and Stellar are hell-bent on merging DLTs (distributed ledger technologies) with existing financial architecture. Promoted as the “future of finance and banking,” Ripple and Stellar are creating blockchain based financial systems to address the problems the industry faces today. Visit here to read full story
  2. Alright guys, its been a hell of a week for Ripple and crypto in general. We are witnessing the beginning of a banking revolution- its only going to get crazier as we head into 2020. PART 1: Let me start this post by telling you a conversation I had with my mother, an executive loan officer and branch manager of a regional bank in the south: After the usual mother/son conversation, I asked her how her job was going since she just came back from family leave. APPARENTLY.... "The top executives are freaking out. The projections for loan income are completely off due to the FED announcement." If you're not in the US, basically the central bank wants to lower interest rates next month. The effect? Here is an excerpt from a Yahoo Finance article: https://finance.yahoo.com/news/fed-interest-rate-cut-horizon-121512567.html So, US banks will be struggling to make the quota for this fiscal half because the banks projected the rate to actually increase rather than decline. This meant that many banks gave adjustable rate loans to borrowers in hopes that the prime rate would increase over time. PART 2: Responses from other banks have ranged from nonchalant to panic As you can imagine, banks want to keep a lid on their panic state. Most have released statements that say they were prepared for the rate decline. Some are in denial and think the FED will call back on its majority vote to cut the rate https://www.cnbc.com/2019/06/20/one-major-bank-is-holding-the-line-saying-the-fed-wont-cut-rates-this-year.html Once Goldman Sachs executive went all the way to say smaller banks are screwed https://www.bloomberg.com/news/articles/2019-06-20/goldman-sachs-executive-says-legacy-retail-banks-are-screwed Based of the conversation with my mother, I would agree that the banks are concerned and stand to lose a lot of money. PART 3: ENTER CRYPTO- Libra is announced, and the Moneygram Move Okay so, unless you live under a rock, the news this week has been amazing. Facebook announces Libra under much criticism. The announcement had a few effects: Whether you love it or hate it, it has helped bring crypto into the spotlight this week. All press is good press for crypto, that much is true. Regulators have sprung into action. Already making statements about the regulation of Libra and crypto in general. (See quotes below) https://www.apnews.com/ee872c2a79494a1183866bd1dc9c9083 https://www.cnbc.com/2019/06/20/facebook-libra-cryptocurrency-faced-with-central-bank-warnings.html https://cryptonews.com/news/fatf-decides-to-tighten-crypto-regulation-report-4092.htm There are plenty of other quotes, but i think this suffices. A final effect is that banks will be looking for an alternative or an edge against their competitors. Ripple and Xrapid already exist and has gone through extensive trials over the past 5 years. Brad Garlinghouse has already made the statement that Ripple has has a "record week" due to the Libra Announcement: BOOM- Thank you, Facebook. Ripple is also in the spotlight for the Moneygram Deal. MoneyGram's Stock rose over 150% and huge announcements for new corridors were made as moneygram is expanding their footprint in India. Ripple is making other moves as SBI Remit and SCB Thailand are featured in their Paying Forward promo videos (check twitter, i'm too lazy at this point to embed them lol) Conclusion TLDR: Banks are hurting from the potential FED rate drop and crypto appears this week to banks as a way to cut costs. The financial transformation is on the horizon and is approaching fast! If your read all that, congratulations. You're amazing!
  3. As a long time follower of this forum I have read my fair share of FUD; whether it be from fanboys or ignorants the sentiment usually comes right down to "The banks don't need XRP" , "Bankers S**tcoin" and "It's not a 'true' Cyrptocurrency" Now some of the notions I can agree with in part (xCurrent can operate without XRP, Ripple as a business is targeted at the Banking sector so perhaps it is a "bankers" coin and as has recently been addressed, XRP is viewed in many fashions but probably as a Cryptocurrency the least. With this in mind, is anyone else finding it somewhat ironic at the number of stories arising about other so called "Cryptocurrencies" targeting the banking sector and somehow successfully avoiding the FUD? Whilst us Ripplers are still being targeted... Whether the rest of the market is finally realising the error of their neurotic ways ("Bring down the system") or are simply trying to emulate Ripple's Roadmap it is now even more clear to me and other Holders that we made the right choice... #XRPtheStandard
  4. The Netherlands Central Bank is apparently VERY bullish on Ripple and XRP in their payments innovation paper(see pages 8-9). In addition, Dutch bank Rabobank confirmed (again) that they are looking into Ripple solutions in the following tweet (sorry, it's in Dutch): Apparently the Dutch banking sector is very bullish on XRP. What do they know that we don't?
  5. Hi all! I am wondering if we can see what are the implications on using xRapid. Cuallix is the only available example for now. Did they reduce fees for money transfer, how long do the transactions take from start to end(start being when one sends money, end being the receiving part has money in their account).
  6. Not a particularly big fan of RT, but I thought this was interesting as Indian banks were supposedly on board. https://www.rt.com/news/414601-india-cryptocurrency-ponzi-scheme/ I'll be scouring to see what governments start to do. We are still in uncharted waters and don't want to become bag holders.
  7. 'Ripple’s technology will be enabling multiple use cases throughout India by the end of the year.' https://mobile.twitter.com/simoncampau/status/928281936627343360
  8. Taken from the article by Richard Gendal / Not my work, but I really think this needed to be posted here. Worth reading all the way down. What do you think @Hodor?
  9. https://www.finextra.com/finextra-downloads/featuredocs/arma partners.pdf
  10. The price of XRP was a half of a cent when I was buying up mine. I watched as the coin I believed in skyrocketed on the idea that banks would go live on the first of April. Suddenly I became a very wealthy person. Then I watched as the price fell steadily for months. Now I see it spike again because of another false alarm. This time it crashed back in the blink of an eye. Last time no one could be sure when something might go live. The fear of missing the boat if something did go live has given rise to a lot of "bag holders." and kept the price high compared to its half a cent starting point on the first of April. Now this tweet has basically said that no one should expect anything more then a conference for the rest of Q3 and into Q4. There is no more idea that they could go live soon. I expect the price of XRP to be right back where it was 0.14-0.16 in a few more weeks and if there's another bitcoin flash crash I expect it to go lower still. I don't believe that it will go back to the half a cent I got in at. But, I think the company and all of us would be better off if they gave a concise and updated timeline of anticipated events. I know that we might loose out on these massive movements and that would be sad in a lot of ways. But, we would probably get a normal steady rise out of it in exchange. If the company can't give a simple timeline, I think we should all be starting to ask ourselves. "Is it because the date is so far off... maybe non-existent at this point?" Should we all learn our lesson by this point and be less emotionally invested in this whole thing. I have been, and will continue to, play this like a game from now on. When it goes up I sale, when it goes down I buy, and I will never hold for more then a few hours again unless there is unambiguous news that comes strait from Ripple. The only money you are guaranteed is the money you have right now.
  11. XRP has been performing better than any of the other top alts vs BTC over the past week. The only reason it's down vs USD is because BTC is down vs USD. If you look at their charts vs USD side by side they look nearly identical. XRP is the only major alt to actually have movements up vs BTC during this latest BTC sale off. Until the banks go live its looking like BTC will rule the price. But, XRP is doing way better then it used to during these things.
  12. Question re: future of XRP and it's value as an investment vehicle. When I look at what Limited understanding I have about XRP and Ripple, I am puzzled by the notion that holding large volume of XRP would ever be as valuable as say, the equivalent value of BTC. These are my assumptions: Assume banks are becoming ripple customers in order to use Ripple for Bank-to-Bank transfers;(this is the stated business model and seems to be confirmed by the number of conventional banks involved with the currency.) With that stated purpose, a bank would be able to move large amounts of USD easily with fewer XRP say if XRP were ever to reach BTC values. (So at $5k per XRP the bank only has to transfer 200 XRP to move $1 Million USD, and that seems to be efficient and easier.) But once moved, if the bank's customer wants to withdraw $1M USD, then the bank has to convert the XRP to have the cash on hand, which means Ripple allows immediate Bank-to-Bank transfers but creates great risk for bank balance sheets. Assume for a moment that this issue cannot be solved - and that the sole reason for using Ripple is to make Bank-to-Bank transfers faster and more secure, but "efficiency and ease" aren't the goal. In that circumstance it is more practical for banks to keep the value of XRP as close to the USD as possible, if not under $1 USD to factor in the bank's fees for the transfer. So to keep the numbers round, transferring $1 USD = 0.99 XRP. Then, balance sheets are a lot cleaner with less risk of the bank being shorthanded because XRPis = or <USD. Now Assume that Ripple Labs' holding 60% of the coins is being done in order to be able to control the value of XRP (i.e. flood the market when price gets too high.) And the 60% they're holding is described to customer banks as their insurance policy to guard against inflation of the XRP value. Assume that XRP as a consumer payment method (for example accepted currency by Alibaba and transacted with AliPay) would also argue for the value to be held to a very (relative to BTC) low value because consumer transactions require a value easily obtainable. Now my question: if the above assumptions are true, and it makes sense for XRP to stay closer to the value of USD, is there reason to believe the value of XRP will ever exceed $1 USD? Just wondering where my understanding lapses ... so I can understand the XRP investment logic. I'm holding a reasonable number of coins and deciding whether to continue to increase investments. Contributions appreciated.
  13. I talk about Ripple's Chinese expansion in my latest blog entry. I discovered just how big the Chinese banking market is.Spoiler alert - biggest in the world by FAR. I hope you enjoy. Please leave any feedback below, and feel free to share on any other media! Here are the links to my blog announcement(s) on other media: Reddit Twitter Bitcointalk - alt coin sub forum Bitcointalk - XRP Speculation Thread
  14. https://m.cacm.acm.org/news/219436-technology-that-could-revolutionize-banking/fulltext?mobile=true
  15. Hi here is a video to look at. https://ripple.com/customer-case-study/reisebank/ I am hoping more banks implement this because i want to do transactions in real time . Where i can send money to my dad or vice versa in real time across border . Usually takes a day or two.
  16. Just wondering when people think XRP will start being traded on a mainstream commodities exchange or if this is a goal at all. @JoelKatz @miguel
  17. "But XRP works with Banks, not against them!" I lost track of how many times I heard this siren cry from the bitcoinist hoards on bitcointalk back in 2013. Of course, all it did was convince me to be more sure of my XRP investment rather than doubtful. But you'd have to know something about my personal investing history in crypto up to that point. I was not a newbie by then; I'd been burned twice. And both times I learned very key, very painful, investment lessons when it came to crypto-currencies: 1) Never sell on a downturn. 2) A crypto investment with solid use cases always comes back stronger than it was before My Personal Experience I had learned this lesson from initially investing in Peercoin, then losing faith in it before it broke 15 cents. It soon went to $3 and is now listed for $1.60. That would have been roughly a 2,000% return for me if I would have just shown a little fortitude. Remember this was 2013 - the wild west of crypto was just being born at that point. I then said "no more alt coins" and invested back in bitcoin. It was approaching ~ $120 at this time. I remember thinking, "I don't think it can go much higher than this, but I guess I can trade it on a day-trade or swing-trade basis and see if I can make some money." My success was limited. I made some money, I lost some money. And then came XRP The bitcoin purests on bitcointalk were vicious to the new company, "Ripple Labs." They saw XRP as a complete replacement for Bitcoin, and a competitor that could beat Bitcoin in every way. In addition - probably this is was the worst point for some of them - it could work with the existing banking and ForEx infrastructure, not against it. They saw a threat to their profitable BTC holdings, and they attacked Ripple Labs and XRP mercilessly, spreading lies and FUD at a scale that was truly remarkable. So Why Were Bitcoinists So Afraid? Because math. That's the short version, but I know you're here to dig a bit. Basically, banks can use XRP to lower their ForEx transfer and settlement costs. How much those costs can be lessened depends on several factors. (source: https://ripple.com/insights/ripple-can-help-banks-evaluate-their-cross-border-payment-costs/) One of the services that Ripple provides is to work with a bank to analyze their costs and show them how using XRP can lower their transaction costs: In addition to lowering the transaction costs, enabling and integrating with the RCL allows banks and financial institutions to move into new markets if they so choose, as well: (Source: https://ripple.com/files/xrp_cost_model_paper.pdf ) So How Big is Banking and Forex? Yeah, super-big. If you're a newbie, here are those numbers: Current volume with SWIFT: According to this document (source: https://www.fincen.gov/sites/default/files/shared/Appendix_D.pdf ) from the US Treasury, SWIFT handles about $5 trillion per day, or given about 250 business days per year, about $1.25 quadrillion dollars a year. Conservatively, let's say Ripple manages to convince only 1 percent of those banks to use RCL. Remember, this is ONLY ONE use case for XRP, and we're estimating that they only get 1 percent of SWIFT's share. Here's the result: .01 X 1,250,000,000,000,000 X .01 = $12.5 trillion dollars worth of transactions per year! So Banks Would Only Use XRP For ForEx? As big as ForEx will be for XRP, that's not even close to all of it's use cases. For example, it can support confidential, anonymous transactions. source: Ripple has pointed out other high-frequency areas where integrations with RCL and XRP can benefit Financial Institutions: (source: https://ripple.com/files/xrp_cost_model_paper.pdf ) When somebody asks you which crypto-currency is the right choice for Banks and Investment Bankers ... well, you know the answer now! XRP
  18. What benefits are going online for Ripple this month? What banks start using it from now until the end of the year and when? I hear that this month and the next are CRAZY.
  19. http://www.livebitcoinnews.com/ripples-transactions-can-fully-anonymous/ Quoted: "Throughout the past couple of months, Ripple XRP has risen to become the biggest gainer amongst all cruptocurrencies recording more than 4000% growth during around 6 weeks. This reflects increased trust of crypt-enthusiasts in Ripple’s network which relies on “path based” transactions which sets Ripple apart from other altcoins. Ripple is pseudonymous and deanonmymization attacks have been successful in the past across Ripple’s network. But what if Ripple can be completely anonymous? Wouldn’t that greatly increase the value of XRP? Before we can answer this question, let’s first understand how Ripple’s network works Ripple and Other Credit Networks: Ripple is a form of a credit network across which users build trust with others via the “I Owe You” (IOU) credit concept. The concept initiates transactions between a couple of users to settle IOU credit along the trust path that extends between both of hem. Practically speaking, the IOU credit concept promotes the creation of credit networks that can undergo same and different currency transaction settlements among cryptocurrencies, fiat currencies and even other forms of user-defined currencies in a matter of a few seconds and at extremely low transaction costs. Ripple’s Privacy Issues: Even though Ripple’s network holds great potential for individuals as well as various financial institutions all over the world, it is vulnerable to deanonymization attacks similarly to those taking place on bitcoin’s network. A recent study showed that most transactions across Ripple’s network can be easily deanonymized so that everyone can know who is paying what to whom. Mixing solutions, which can solve the privacy issues of other cryptocurrencies without relying on smart contracts, such as Blindcoin and Mixcoin, cannot be implemented on Ripple’s transactions, because simply the central server can steal the coins. PathShuffle – Anonymizing Ripple’s Transactions: A group of researchers recently presented a perfect solution that can anonymize most transactions across Ripple’s network. PathShuffle is by far the first coin mixing protocol for path based transactions across credit networks. The protocol relies on a new approach named “path mixing” for anonymizing transactions across credit networks that is based on the observation that IOU credit transaction paths sharing a common node can be successfully mixed. The researchers proposed PathJoin, a protocol able to execute transactions with multiple inputs and outputs. This allows multiple users to move credit atomically from input wallets to output wallets, thus, solving one of coin mixing’s standard fairness problems. PathShuffle is the first ever decenteralized path mixing algorithm for credit networks. PathShuffle integrates PathJoin with DiceMix; a P2P message mixing algorithm. Via this combination, PathShuffle is evidently as efficient as Bitcoin’s mixing protocols e.g. CoinJoin. The coin mixing ensues along 5 rounds to yield anonymous transactions across intersecting settlement paths on the number of users that participate in the path mixing procedure, yet this would need 5 + 3f mixing rounds when an f number of disrupting users are present. Throughout their experiments, the researchers managed to demonstrate that their proof-of-concept (PoC) implementation of PathShuffle is fully compatible with Ripple’s protocol. PathShuffle successfully executed 100% anonymous Ripple transactions in real time. So, if Ripple can be fully anonymous adding another advantage to its already unique features, where can we expect its price to be a couple of years from now?"
  20. Ripple Network Transaction Throughput Matches Visa's http://www.livebitcoinnews.com/ripple-network-transaction-throughput-matches-visas/
  21. http://capitalmarketsblog.accenture.com/collaboration-fintechs-key-getting-innovation-right Does the title of the article sound similar to Ripple? Yes it does! This last point basically echoed Ripple's approach to the letter!
  22. I know this is the news in past days but wanted to share http://www.financemagnates.com/cryptocurrency/trading/cryptocurrency-prices-explode-bitcoin-1600-ethereum-100/
  23. https://www.forbes.com/sites/laurashin/2017/01/10/what-is-one-of-the-worlds-largest-derivatives-exchanges-doing-with-bitcoin/amp/
  24. https://www.cryptocoinsnews.com/ripple-shoots-past-ethereum-no-2-crypto-capitalization/
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