Search the Community
Showing results for tags 'fednow'.
Found 4 results
Minimum search term is 4 characters long. Can't find what you want? Click here for the custom google search instead.
Here is an idea, Instead of burning xrp, I suggest Ripple to write an option contract to gift Fed around 30 billion xrp as a exchange of Fed’s commitment to provide the public liquidity of xrp, for all the business and banks to use. The current US debt is about 22 trillion, 22,000,000,000,000 / 30,000,000,000 = 733 If Fed sells the gifted xrp in the average price of $733/xrp, US can pay off the debt completely and protect the dollar from collapsing. And xrp can strengthen its use case as a dollar’s life saver. This is a very good chance for the Fed to solve the global liquidity problem in the most democratic way possible. This scenario is win win for everyone, it benefits the government, private business, and the citizens of the world. This kind of chance doesn’t come by often. Digital asset can literally save the country if they adopt the asset in the right way. What do you think of the suggestion Ripple?
Blog URL: https://coil.com/p/Hodor/XRP-Limitless-Scale/MfAIXnQiD XRP can scale to unlimited heights. Find out more, along with my breakdown of the latest pivotal news about the US Federal Reserve's decision to build "FedNow:" 𝐆𝐞𝐧𝐞𝐫𝐚𝐥 𝐁𝐥𝐨𝐜𝐤𝐜𝐡𝐚𝐢𝐧 𝐍𝐞𝐰𝐬: The Federal Reserve decides to 'build their own' with the latest news about a new system called FedNow. 𝐑𝐢𝐩𝐩𝐥𝐞 𝐍𝐞𝐰𝐬: MoneyGram conducts its quarterly earnings call and discusses their Ripple deal in depth; ChainTalk interviews Tomohiro Yamaguchi; and an XRP fan analyzes Ripple's UBRI initiative. 𝐗𝐑𝐏 𝐍𝐞𝐰𝐬: Coinfield and Omni create XRP Validators in support of their business; CEX, a UK-based platform, adds an XRP-GBP pairing; and DOBI, an innovative Chinese company that specializes in ATMs and 'wearables,' decides to support XRP. I hope you enjoy the read: Please feel free to share my blog with a friend or share it on any other platform - and thanks for doing so! My blog announcement links on other platforms: Twitter Reddit r/Ripple Reddit r/CryptoCurrency Reddit r/CryptoMarkets Reddit r/xrp Reddit r/RippleTalk Reddit r/alternativecoin Reddit r/CoilCommunity Bitcointalk - alt coin sub forum Bitcointalk - XRP speculation thread
“Banks behind the private payments system are worried about a big, public-sector rival. The Fed, by law, doesn’t seek to make a profit but has to cover its costs by charging banks for the services it provides. In this case, it would have to show it can break even on creating and running the updated system. The big banks fear this would cause the Fed to compete for customers by offering volume discounts to users, which would force them to follow suit. The banks also say they were blindsided, arguing they developed their instant-payments system under the assumption the Fed wouldn’t compete with it. While the Fed hasn’t taken a public position about who should be involved in modernizing the payments system, it launched a task force in 2015 that rounded up competing technical proposals from the private sector.” -Wall Street Jornal It has publicized that Fed is not public about who out of the candidates provides the technology support yet. But it looks like one of the team is supporting the core tech to Fednow for sure. I believe utilizing open public digital asset (xrp) is the most democratic and capitalistic way to provide liquidity globally. I hope Fed is heading the right way. https://www.google.ca/amp/s/www.wsj.com/amp/articles/banks-confront-fed-on-faster-financial-payments-11564911000
From the fed announcement yesterday, she said: “The Federal Reserve provided a joint account to enable the private-sector operator to offer real-time payments. Moreover, today we are announcing our intent to explore the expansion of Fedwire Funds Service and National Settlement Service operating hours to support the efficiency of the joint account structure for the private-sector real-time gross settlement (RTGS) service and provide broader benefits. That said, the joint account structure, with its requirement of prefunding and settlement on a private ledger, is fundamentally different from the approach the Federal Reserve will use to settle transactions directly between banks.” Fednow is planing to provide the liquidity for the public with “joint account” but strangely, the joint account doesn’t need prefunding like a normal account. She said the structure of the “joint account” Fednow will use is fundamentally different. I think the term “ joint account” is deceiving us. I think the “joint account”actually could be Xpool, the joint of liquidity of market makers. What do you guys think the secret of the joint account that don't need prefunding and allow instant direct settlement between banks? Share your thoughts