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  1. Guys, Here is some more information on RTGS Global's patent pending application(s): 1.) It appears Andrew Smith, CTO of RTGS Global, filed the patent on September 2, 2019 in the U.K. Intellectual Property Office. 2.) It is application number GB1912608.5 3.) The U.K. patent application is titled "A method and system for the secure transmission of funds" 4.) It appears that the RTGS patent was also filed with the World Intellectual Property Organization under application number PCT/IB2019/057390 5.) However, I cannot find the patent application under the WIPO IP Portal (as of today, September 6, 2020). 6.) In the United States, there are provisional and non-provisional patents available to inventors. A provisional patent is never examined by the USPTO, but the inventor has a quick filing date (more importantly, a quick priority date), they can delay long-term patent examination costs, and the inventor could still say they are "patent pending." 7.) In the U.K, there is no such thing as a provisional patent. However, the equivalent way to do (a provisional patent) in the U.K. is to file a normal patent application but not progress that application and then, within 12 months, to file a further application which claims priority from the earlier application. 8.) My guess is that RTGS is moving forward with the full patent and is not just filing something to say that they are "patent pending." It has been over 12 months since the patent application was filed on September 2, 2019, and the status on the U.K's Intellectual Property Office website says "pending." However, it is always possible that a company claims they are patent pending, and technically they are correct, but the patent application eventually expires and the inventor loses their priority date. 8.) Want to be clear here. I am not saying RTGS is doing just that, but that I have seen this happen in the past. "Patent pending" is great for marketing; great way to entice investors or customers as well. But it is just a patent application. A patent has not been awarded to RTGS yet. 9.) In the UK, a pending patent application will be published with the search report not earlier than 18 months after the filing date of the initial UK application. So, if I am understanding this correctly, we will not be able to get a look at this patent or the text of this patent until March 2, 2021 (or later due to COVID-19 delays). 10.) If anyone wants to try to help me find the WIPO patent application, that would be great. But it also might not be available until March 2, 2021. 11.) If the RTGS Global patent application infringes upon any existing patent, including one of Ripple Labs, Inc. patent applications that may later be issued, that patent holder or inventor could take legal action for patent infringement, which would likely include an injunction to prevent that product/service in the marketplace. I'll circle back to this in March 2021. Also, all of this does not mean that RTGS is or is not a threat to what Ripple is doing. Just trying to bring some more light to what they are doing here (and what legal protections they are trying to claim with everyone and every other company quickly jumping into this space). Sources: https://www.linkedin.com/in/ctoandy/ https://www.ipo.gov.uk/p-ipsum.htm https://www.ipo.gov.uk/p-ipsum/Case/ApplicationNumber/GB1912608.5 https://www.ipo.gov.uk/p-pj-fullfile/pdf/6804/6804.pdf https://ocpatentlawyer.com/file-provisional-nonprovisional-patent-application/ https://www.gov.uk/search-for-patent https://rtgs.global/site/userfiles/File/downloads/RTGS-Terms-of-Use-V3_May_ 20.pdf https://patentscope.wipo.int/search/en/search.jsf http://www.hindles.co.uk/the_uk_patent_application_procedure.html @Snoopy @Pablo @WillGetThere @vlad_got_it @jcdenton @Mrsrippley @xrpisking
  2. was just reading through Fed's report published on aug/5/19 (https://www.federalreserve.gov/newsevents/pressreleases/files/other20190805a1.pdf) And found this: Page 33, when some commenters expressed concern that a single private-sector operator would serve as a single point of failure in the faster payment market. "This diversity inherently creates significant coordination challenges that, along with the high fixed costs necessary to develop RTGS services for faster payments, are likely to limit the number and type of entrants in the market. Indeed, only one private-sector RTGS service for faster payments has been established in the nearly six years since the Federal Reserve launched the SIPS initiative and articulated the goal of a ubiquitous, safe, and efficient faster payment system. Comments received by the Board support the expectation that this service is likely to remain the sole private-sector provider of RTGS services for faster payments in the United States." According to the report, SIPS, Strategies for Improving the U.S. Payment System, initiated Faster Payment Task Force team of around a dozen of start up companies, and only one has been established. So, can anyone help me guess the name of the only company that has been "established" out of the start up since the launch of SIPS? That's the company that will serve US with the new RTGS service.
  3. https://xrphodor.wordpress.com/2017/07/16/xrp-the-power-of-focus/ Other crypto-currencies jump at any chance for marketing themselves, while Ripple keeps the focus squarely on its end-game: doing international payments and RTGS better than SWIFT. Please leave any feedback positive or negative here, and also feel welcome to share my blog with others as you see fit! Reddit: https://www.reddit.com/r/Ripple/comments/6nn80w/xrp_the_power_of_focus/ Twitter: https://twitter.com/Hodor7777/status/886631666004971520
  4. There's a lot of talk around the Ripplesphere, and particularly on this forum, about Ripple's and XRP's future as a solution for cross-border payments. It's easy to say "well, cross-border payments take 4 days and cost a ton; Ripple can do it in seconds." To which many reply "but I can send money to a friend in the (the UK, EU, US, you choose) in seconds on PayPal." Explaining things after that can get a little sticky, particularly because people don't actually understand how money flows in the modern banking system. Maybe to the end-user of PayPal, it's academic; they won't be convinced by anything but the reduced transaction fee at the end of the day. But try to understand the value proposition from a bank's perspective. This article from 2013 is a nice, clear primer on what actually happens when you send money. The writer had Bitcoin in mind when it was written, but it's very clear from the perspective of 2017 that XRP and Ripple have a superior solution. Anyways, enjoy. https://gendal.me/2013/11/24/a-simple-explanation-of-how-money-moves-around-the-banking-system/
  5. I came across this post, Distributed Settlement: Distributed Ledgers for Real-Time Bank Settlements, which argues that the switch from net settlement to real-time gross settlement (enabled by distributed ledgers) should be slow because of the risks involved with RTGS. As much as I think most of us would like to flip a switch and make settlement real-time (preferably via Ripple, of course...), it's important to understand that RTGS does not automatically remove risk from the system. In leveraged, fractional reserve financial systems, it exchanges credit risk (default on interbank loans from net settlement) for liquidity risk, which tends to pop up at the worst times (financial crises), and thus RTGS may amplify illiquidity. RTGS systems can't simply be popped into place: There are some other interesting posts on the blog and I recommend checking it out. (http://sammantics.com/)
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