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jchrishome

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

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1 hour ago, TLG said:

lolz.

silly child.

He has a point though. There is a proper and credible competition to Ripple.

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2 hours ago, minicuzzo said:

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

Uh...because it's worth billions of dollars right now.

Occam's Razor, baby...

Edited by philwynk

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10 minutes ago, philwynk said:

Uh...because it's worth billions of dollars right now.

Occam's Razor, baby...

They can't just sell 5 billion XRP all in once, even if they wanted to. 

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For those who believe R3 is  a serious competitor to Ripple; a few questions....

-How is R3's blockchain going to help their banks in regards to freeing up stagnant capital in Nostro/Vostro accounts?

-How is R3's blockchain going to help their banks/businesses source liquidity to inefficient corridors?

-If they can't do either for their clients, then how is R3's blockchain any different than any one of the 1,400 blockchains out there?

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2 hours ago, QWE said:

*sigh* I will keep posting this as long as R3 keeps popping up on XRP chat.

 

R3 offers Permissioned Private Ledger solutions and in many cases, they actually promote that the customer does not need blockchain solution at all. It is a completely different concept from what Ripple is trying to do, so they do not directly compete to one another. R3 also does not have a native token like Ripple's XRP.

 

See picture in attachment from one of R3 own presentations:

 

R3.jpg.f763d53163ed38bbe1298ed79086efd4.jpg.1102e1102b6687392907597a5c4c2462.jpg.70a074ed133088c6d9b3c67a77688055.jpg

 

Thank you for the info, really appreciated! I am curious as to what you think about WHY so many large banks are still interested in R3, even though it is in very early development phase. 

thank you!

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1 hour ago, icebreath said:

They can't just sell 5 billion XRP all in once, even if they wanted to. 

So? It's still maybe $8 billion in assets. A huge percentage of the assets in the world are illiquid. 

 

Edited by philwynk

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26 minutes ago, jchrishome said:

Thank you for the info, really appreciated! I am curious as to what you think about WHY so many large banks are still interested in R3, even though it is in very early development phase. 

thank you!

 

Honestly, I have not followed R3 for some time now, so I am not confident enough to speak about their product and not potentially spread fake news, however, their products were always presented as a sort of an "intranet" where only the participant partners are connected with each other. In my opinion, this sort of environment does not really benefit from blockchain, because you could use any other "traditional" technology to communicate or store data (hence the big "Don't use blockchain" sign that connects to almost all of the options on their slide). In a best case scenario, they could create a product similar to xCurrent still using the old nostro/vostro accounts, but without a native token, they can never create anything like xRapid. The last sentence is oversimplified and both environments have other huge differences, but hopefully paints a picture of what I am trying to say.

 

Ripple on the other hand offers instant cross border settlement, which is only possible using XRP. There is no other company or product available in the world at this time that could do anything like this, let alone on an enterprise level.

 

Edited for grammar.

Edited by QWE

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11 hours ago, philwynk said:

Uh...because it's worth billions of dollars right now.

Occam's Razor, baby...

We talk about crypto market. XRP could (ONLY theoretically) vanish within a  minute if it turns out that it has no future. Nobody will be so stupid and want something that they do not believe in when it comes to crypto. Let alone billions of it. It doesn't make sense to me. But i`m no expert and don´t know ****. I just want to make a lot of money :)

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50 minutes ago, minicuzzo said:

We talk about crypto market. XRP could (ONLY theoretically) vanish within a  minute if it turns out that it has no future. Nobody will be so stupid and want something that they do not believe in when it comes to crypto. Let alone billions of it. It doesn't make sense to me. But i`m no expert and don´t know ****. I just want to make a lot of money :)

I agree that this should be the case, but markets in crypto are irrational. A perfect example of this is DOGE, where a coin that has been created as a joke, has never had any intention to create use-cases and is not even being regullary updated, has nontheless reached a market cap over 1 billion USD.

I am not saying this is good, but unfortunatelly the "Nobody will be so stupid and want something that they do not believe in when it comes to crypto" does not hold water right now. Hopefully this changes in time when lambo kids are replaced by serious investors. Ripple and XRP with its clear use case should really shine when that time comes.

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7 minutes ago, QWE said:

I agree that this should be the case, but markets in crypto are irrational. A perfect example of this is DOGE, where a coin that has been created as a joke, has never had any intention to create use-cases and is not even being regullary updated, has nontheless reached a market cap over 1 billion USD.

I am not saying this is good, but unfortunatelly the "Nobody will be so stupid and want something that they do not believe in when it comes to crypto" does not hold water right now. Hopefully this changes in time when lambo kids are replaced by serious investors. Ripple and XRP with its clear use case should really shine when that time comes.

Ok but do you think that this irrational behavior applies also to a company like R3?? I have my doubts

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