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Found 8 results
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  1. Mark Carney changes mind AGAIN as Bank of England moves toward 'Brit coin': Mr Carney:“the future of central banking may involve fewer central bankers”, instead suggesting the prospect of a central bank digital currency (CBDC). Source: https://www.express.co.uk/finance/city/966127/bitcoin-latest-cryptocurrency-news-ethereum-mark-carney-bank-of-england His mind change is based on a report titled, ‘Central bank digital currencies — design principles and balance sheet implications’ found that in the scenarios described, there was no reason to believe that adopting a CBDC would negatively impact the UK economy, specifically private credit or total “liquidity provision”. You find the very interesting but long report here: https://www.bankofengland.co.uk/-/media/boe/files/working-paper/2018/central-bank-digital-currencies-design-principles-and-balance-sheet-implications.pdf?la=en&hash=11469281B32821BCFD85B4A5483AB3577E38B2DD It is titled: Staff Working Paper No. 725 Central bank digital currencies — design principles and balance sheet implications Beside all the insights on possible CBDC scenarios you will find on Page 1 Footnote 1 the following sentence: Several other central banks are actively considering the use of distributed ledger technology to provide CBDC for interbank payments. This includes, but is not limited to, the Bank of Canada, the Monetary Authority of Singapore, the European Central Bank and the Bank of Japan.
  2. Was going to post this is in the Press section but it doesn't specifically mention Ripple. Looks like full regulatory approval for XRP in Mexico is just round the corner. Once approved as a Financial Technology Institutions (ITF); those ITFs that the central bank approves can legally operate with cryptocurrencies and “all financial institutions [will] have permission to work with” https://news.bitcoin.com/mexican-cryptocurrency-regulations-approved-congress/
  3. Both articles do not mention Ripple nor XRP but you can't expect the head of ECB to explicitely mention xrp...yet https://www.ecb.europa.eu/press/key/date/2018/html/ecb.sp180205.en.html Also relevant: https://www.coindesk.com/2018-year-central-banks-begin-buying-cryptocurrency/
  4. I often see references to 'mass adoption' as being indispensable for something else to happen in crypto-land, but it seems to me the term itself lacks clarity and may mean very different things to different people. Conventionally, disruptive change diffuses from innovators, to early adopters, early majority, late majority, and eventually laggards. This would put 'mass adoption' as occurring somewhere during adoption by the late majority. Does this help? No? Perhaps it requires additional fleshing out. The phrase 'mass adoption' should be defined clearly at least in the two operational contexts -- retail and institutional -- which, in the main, concern speculators in crypto. These contexts are dissimilar, and failing to distinguish clearly between the two can trip us up when analyzing and discussing expectations, or when comparing 'coins.' Given the reigning confusion in crypto, we may end up comparing apples to shoes inadvertently. For example, I have thought more than once that the market cap rankings completely fail to distinguish between the purpose or target sector of the various coins / tokens. This is key to understanding the value (or lack of it) of the market cap idea and could make comparisons (and rankings) more sensible. An opportunity is being missed to clear the existing fog in crypto with the lack of an equivalent to stock asset classes or sectors (large cap, small cap, sector-focused, etc.) Traditional finance has mis-grouped all cryptos in a single 'new asset class', while it is clear by now that most of these have disparate objectives and might as well be in different sub-classes altogether -- cryptos being in fact software projects, regardless of people wanting to think of them as shiny 'coins' in their competitive quest for a quick fortune. With Ripple officially focused on the institutional clientele, it could well be that having a half dozen to a dozen adopters using Rapid/XRP this year would suffice to constitute massive progress, although not, technically speaking, mass adoption. Not when you consider the 11,000+ banks worldwide, or even the 100-200 Ripple partners. And yet, it could still be enough to sway price significantly, and propel it to new heights in sustainable fashion. The same could be said about a single endorsement by one of the Top 5 Central Banks. This then raises the question: is 'mass adoption' really a prerequisite to price appreciation? Or, might it be more suitable as a lagging indicator than a leading one? I tend of think of regulation as a leading indicator of where the sector may be headed and of the degree of adoption as a lagging one. But perhaps that's just me. Retail adoption by individuals using XRP to buy goods is an entirely different animal and would probably have to be in the tens or hundreds of millions to qualify on the basis of chosen populations. Something related to sports betting, perhaps, as the recently announced football crypto-initiative being launched in the UK, with worldwide scope and appeal, might just be that catalyst. I think this announcement was not appreciated properly by many here as to its potential impact (ex. fast payout of bets on a worldwide scale using Ripple.) Whichever of the two -- institutional or retail -- seems more impressive at first glance on the basis of numbers, operational definitions do matter and can help us in focusing on reasonable goals as speculators and in comparing apples to apples. Food for thought? Again, just one man's opinion.
  5. https://www.washingtonpost.com/news/democracy-post/wp/2018/01/17/in-venezuela-money-has-stopped-working/?utm_term=.a708b4e333e6 I've mentioned historical examples before, but this is the latest. The suffering these people are going through is very real. This is also a great example as to why cryptos are a threat to governments like Venezuela's. Today, the people living there had to watch as their liquid assets, money, became worthless. When they tried to convert that money into hard assets, like food, they created hyperinflation so bad that almost nothing is left. In today's world corrupt governments can effectively steal massive wealth from their own populations by hyperinflation. They could also try to do so by force or taxation. If the people of Venezuela had been able to convert their money to something like XRP every time they got paid, then the hyperinflation by the government would have done nothing as the asset value of the crypto would have just risen with it. It'll get worse before it gets better, but eventually normalcy will come back in Venezuela. When it does, don't be surprised if the population there choses to hold their wealth in some form of crypto instead of the local currency. What would be amazing to find out is whether or not anyone there was able to transfer their wealth into crypto before the hyperinflation.
  6. Interesting article: https://fintechinsidernews.com/posts/JyyP3uzoA2EQ7Xm5E/2018-the-year-central-banks-begin-buying-cryptocurrency
  7. https://www.reuters.com/article/us-ecb-bitcoin-mersch/ecb-tells-banks-to-embrace-instant-payments-to-beat-bitcoin-idUSKBN1DU11O "Banks should speed up the introduction of instant payments, whereby money is received immediately and around the clock, to counter the allure of digital currencies such as Bitcoin, a European Central Bank director said on Thursday." Would be really interesting if they embrace Ripple's technology along with XRP to counter Bitcoin. Also, Marcus treacher speaking at the ECB and Banca d’Italia joint conference. Nice to have him rubbing elbows over there at the ECB lol Panelists also include American Express and PayPal. No other rep from any other digital currency but Ripple (XRP) Originally from r/ripple
  8. We all know the perks to ripples software. We've all heard that ripple is closing deals with many banks. We wonder why these banks don't like xrp. Well, they should! Simply put.. buy using a digital currency to transfer funds banks are both able to hold onto their fiat currency longer and able to transact fiat currency faster to each other and customers faster! It's simple.. digital money (xrp) swapping between systems comstantly.. nothing more then Code. Code that gives signals to cash this person's paycheck, release funds to another branch to make dAily protocol monetary availability. Why waste time shifting around real money that banks could keep firmly in the market warning more cash and let the digital currency do the work? Rich ppl.. would you rather the bank keep your cash in it.. then transferring it in a truck to places for no reason. Keep it where it is. We just don't need to transfer fiat currency anymore. Xrp is a great solution. Let's support ripple and xrp, people. Because we all know xrp' s real worth should be $100,000 a share!
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