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MoonLambo

Visa, Union Bank launch blockchain payment system

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Not exactly an overwhelming amount of detail in the article (link below), but couldn’t help but wonder the implications as it pertains to Ripple and XRP. 

This has nothing to do with the use case of XRP to settle cross-border transactions, but what about functionality with ILP? Additional thoughts?

I’m still processing as this news broke an hour ago and I just found out 3 minutes ago.

http://news.abs-cbn.com/business/01/22/18/visa-unionbank-launch-blockchain-payment-system

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1 hour ago, MoonLambo said:

Not exactly an overwhelming amount of detail in the article (link below), but couldn’t help but wonder the implications as it pertains to Ripple and XRP. 

This has nothing to do with the use case of XRP to settle cross-border transactions, but what about functionality with ILP? Additional thoughts?

I’m still processing as this news broke an hour ago and I just found out 3 minutes ago.

http://news.abs-cbn.com/business/01/22/18/visa-unionbank-launch-blockchain-payment-system

"The service will be fully operational by the 4th quarter of 2018, he said" - This is a very bold statement. Almost like they are desperate to play catch-up football knowing a lot of Ripple's pilot's go into production this year

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18 minutes ago, JoelKatz said:

So the blockchain just improves security. And it's faster and cheaper because ....?

Hi JoelKatz,

How difficult will it be for someone big like Visa and others to replicate Ripple like speed and security on their own blockchain? I know Ripple has some proprietary stuff as well and logic tells me that is the only thing that can not be replicated (because all the other code is open source). So how big is that proprietary part?

Edited by ss6

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19 minutes ago, JoelKatz said:

So the blockchain just improves security. And it's faster and cheaper because ....?

So, one thing is for sure now that kills that bleak but still a prevalent rumor. No Visa partnership with Ripple! Otherwise we wouldn't have such a reply from a Ripple exec.

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1 hour ago, ss6 said:

So, one thing is for sure now that kills that bleak but still a prevalent rumor. No Visa partnership with Ripple! Otherwise we wouldn't have such a reply from a Ripple exec.

From a company with a clear communication strategy, we could say this, yes. But Ripple has shown before that there is no communication strategy, allowing execs to post things on Twitter, in chatrooms and forums that are so unclear, incomplete or confusing that they result in lots of speculation - whether this was meant like that or not.

My personal opinion is that it is not clever. As much as I appreciate the contributions of Ripple people (and especially the ones present on this board), their critical remarks, their extensive answers to our questions, the explanation of their visions, I really do not see the point of open answers to important questions like a cooperation with Visa. There are other ways to make your point in a clear way, and if you don't want or you are not allowed to make your point, then say nothing. Of course this is only my personal opinion, and who am I :)

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2 hours ago, ss6 said:

So, one thing is for sure now that kills that bleak but still a prevalent rumor. No Visa partnership with Ripple! Otherwise we wouldn't have such a reply from a Ripple exec.

How on earth do you get that from JK's response that basically was just asking a question. Further, I dont think JK would tell you he is a ripple exec.

You're hunting here.

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17 minutes ago, mrenne_17 said:

From a company with a clear communication strategy, we could say this, yes. But Ripple has shown before that there is no communication strategy, allowing execs to post things on Twitter, in chatrooms and forums that are so unclear, incomplete or confusing that they result in lots of speculation - whether this was meant like that or not.

My personal opinion is that it is not clever. As much as I appreciate the contributions of Ripple people (and especially the ones present on this board), their critical remarks, their extensive answers to our questions, the explanation of their visions, I really do not see the point of open answers to important questions like a cooperation with Visa. There are other ways to make your point in a clear way, and if you don't want or you are not allowed to make your point, then say nothing. Of course this is only my personal opinion, and who am I :)

What on earth are you talking about? JK's personal posts about technology in general are not communication strategies of ripple. Quit mixing the two.

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Just now, 65fastback said:

How on earth do you get that from JK's response that basically was just asking a question. Further, I dont think JK would tell you he is a ripple exec.

You're hunting here.

How on Earth do you not get that from JK's response that basically said something negative about Visa's blockchain which he or anyone from Ripple hasn't said against any of their partner or their technological intiatives, not once? 

Yes, I'm hunting here. You should as well.

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11 minutes ago, 65fastback said:

What on earth are you talking about? JK's personal posts about technology in general are not communication strategies of ripple. Quit mixing the two.

Oh come on. When a Ripple exec is posting something under his own name, how can this be separated from the fact that he is a Ripple exec?

That‘s the thing with executives: they represent a company. They know more than the others. And they should be super careful about what they say.

Otherwise you make an account and don’t identify yourself a exec. Then you say whatever you want.

Edited by mrenne_17

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5 minutes ago, ss6 said:

How on Earth do you not get that from JK's response that basically said something negative about Visa's blockchain which he or anyone from Ripple hasn't said against any of their partner or their technological intiatives, not once? 

... something negative to which XRP is the only answer ATM

I don’t want to jump on the speculation train as I don’t care about the short time price development. Maybe it was only meant as a critical note about the tech. But we also know JK is very bad at keeping his mouth shut and there are a couple of things he is dying to announce :lol:

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