Jump to content
jchrishome

New R3 technology currently in 70 of the largest banks...What does this mean for Ripple?

Recommended Posts

These articles discuss a blockchain technology being developed by 70 of the world's largest banks. It does NOT use a crytocurrency coin. What does this mean for Ripple? I am a hodler of RIpple.

https://uk.reuters.com/article/us-banks-blockchain-r3-exclusive/exclusive-blockchain-platform-developed-by-banks-to-be-open-source-idUKKCN12K17E

https://www.r3.com/

https://hackernoon.com/4-alarming-reasons-ripple-might-not-be-what-you-think-9debc3c86985

Share this post


Link to post
Share on other sites
10 minutes ago, jchrishome said:

These articles discuss a blockchain technology being developed by 70 of the world's largest banks. It does NOT use a crytocurrency coin. What does this mean for Ripple? I am a hodler of RIpple.

https://uk.reuters.com/article/us-banks-blockchain-r3-exclusive/exclusive-blockchain-platform-developed-by-banks-to-be-open-source-idUKKCN12K17E

https://www.r3.com/

https://hackernoon.com/4-alarming-reasons-ripple-might-not-be-what-you-think-9debc3c86985

It means they are vulnerable to even one of them failing to honor the ledger.

Share this post


Link to post
Share on other sites
13 minutes ago, RalphWaldo said:

LOL. Why would you join an XRPCHAT group consisting of 2,000 XRP holders just to write about it failing? That seems like a very sad way to manage your time.  

image.png.4c4c6db64ac2b686b94a5106253b8e6a.png

Reminds me of some dumb *ss kid in a pool complaining about get splashed. If ya don't like it GTFO !!

Share this post


Link to post
Share on other sites
14 minutes ago, DjemDiamond said:

Tweet dated Oct 13, 2017. 

Here's what Fortune said about that ruling back in October: "A source familiar with the litigation, however, challenged the significance of the ruling, claiming the Delaware court had declined jurisdiction to hear the case, and that a legal fight would continue in New York or California." http://fortune.com/2017/10/13/blockchain-ripple-r3/

Brad Garlinghouse disputed that assessment in the October article, but now here's a comment from the latest Fortune article about the matter, dated Jan 9, 2018:  "The outcome of the court fight in New York, which comes after procedural skirmishes in California and Delaware, is hard to predict. According to a contract law expert, the matter is likely to turn on whether R3’s failure to inform Ripple about the departure of partners like Goldman Sachs amounts to a “material breach.” http://fortune.com/2018/01/09/cryptocurrency-ripple-xrp-lawsuit/

Apparently the lawsuit continues in New York, along with Ripple's counter-suit claiming that R3 failed to uphold their side of the contract.

None of this affects the news at the top of the chain here, suggesting that a large number of banks are on board the R3 project. As an investor in XRP, this is unsettling news to me. But then, I guess I'm to blame for not knowing the status of bank clearing software development before I invested. No matter; it's not a huge amount of money in any case, and the story is far from being over. I'm still holding...oh, right, "hodling". 

Share this post


Link to post
Share on other sites
Guest

I believe in the fall a major bank walked away from them. I will search.

Share this post


Link to post
Share on other sites
Guest

This means nothing for Ripple. The target group for Ripple is small to mid sized banks. Because these are the ones that mostly want to lower the cost for remittances and high liquidity. Ripple is their only chance to get free from the big banks.

Share this post


Link to post
Share on other sites
Guest

Found this which suggests R3 isn't as flexible or even as scaleable as Ripple's services... how can they compete?

https://www.quora.com/How-is-R3-different-from-Ripple

At this point I'm not sure there's even a competition going on here with the exception of future potential for R3 to possibly expand into a public DLT by which point Ripple will have locked it all up. R3 took a marketing path of least resistance to provide "private" non networked DLT services while Ripple took the hard path for "Semi -Public" international networked DLT services and they are winning. 

Which of course is what the lawsuit is all about ... thats my limited grasp anyway, someone with more knowledge want to chime in?

Edited by Guest

Share this post


Link to post
Share on other sites
Guest

Realistically Ripple won't have 100% of banks. Stellar will have a portion and unfortunately R3 probably will too. R3 can go to hell cause I won't benefit.

Share this post


Link to post
Share on other sites
Guest
3 minutes ago, minicuzzo said:

Why is R3 battling in court over billions of xrp?? Because it's gonna be useless in the future?????

LOL!!!

Share this post


Link to post
Share on other sites
Guest
16 minutes ago, Eruption said:

Realistically Ripple won't have 100% of banks. Stellar will have a portion and unfortunately R3 probably will too. R3 can go to hell cause I won't benefit.

Competition is good.

Share this post


Link to post
Share on other sites

×
×
  • Create New...