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Just thinking about the googledocs spreadsheet circulating on this forum with certain (whale)wallets and their (suspected) UBO's.

Could it be that a bank like Rabobank is concerned that transactions could be traced and monitored (by other customers, competitors) after a while?

Assume production company A is client of Rabobank and does a blockchain transaction with supplier B. A also does a transaction with C, which is also a competitor. If one can identify each others wallets one could monitor transactions on the wallets, monitor volume/turnover (of A) etc which could be interesting competitive info for C. Or do I overlook something?

Edited by alottaripples
bit more detail in my example

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24 minutes ago, alottaripples said:

Just thinking about the googledocs spreadsheet circulating on this forum with certain (whale)wallets and their (suspected) UBO's.

Could it be that a bank like Rabobank is concerned that transactions could be traced and monitored (by other customers, competitors) after a while?

Assume production company A is client of Rabobank and does a blockchain transaction with supplier B. A also does a transaction with C, which is also a competitor. If one can identify each others wallets one could monitor transactions on the wallets, monitor volume/turnover etc which could be interesting competitive info for C. Or do I overlook something?

Definitely a valid point. Though it seems a concern like this would have been foreseen years ago, considering Ripple's knack for anticipating every angle. It'd be very telling if they haven't thought of a solution beforehand, which I doubt. Time will tell.

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1 minute ago, Dutchpinoy said:

...It'd be very telling if they haven't thought of a solution beforehand, which I doubt. ...

^ same. Probably one or a few intermediary wallets of Rabobank in between does the works...

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36 minutes ago, alottaripples said:

Just thinking about the googledocs spreadsheet circulating on this forum with certain (whale)wallets and their (suspected) UBO's.

Could it be that a bank like Rabobank is concerned that transactions could be traced and monitored (by other customers, competitors) after a while?

Assume production company A is client of Rabobank and does a blockchain transaction with supplier B. A also does a transaction with C, which is also a competitor. If one can identify each others wallets one could monitor transactions on the wallets, monitor volume/turnover etc which could be interesting competitive info for C. Or do I overlook something?

My guess is they'll be using ILP+RippleNet as their foundation. And for internal customers they'll be doing off-chain transactions. And use xCurrent for cross-border solutions for now; eventually integrating XRP.

It seems Rabobank is look for an AIO solution that can implement blockchain internally for efficiency as well as transact quickly and cheaply externally, all while maintaining privacy for its users. This would be analogous to MUFG issuing its own coin and then using xCurrent (and possibly eventually using xRapid). In this case, it seems Rabobank is saying they want to go "All Ripple, All the Time". 

Edited by Atomic1221

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13 minutes ago, Atomic1221 said:

My guess is they'll be using ILP+RippleNet as their foundation. And for internal customers they'll be doing off-chain transactions.  

Could you please elaborate on "off-chain transaction"? I'm not well versed in all aspects and would love to further my understandings.

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1 hour ago, alottaripples said:

Just thinking about the googledocs spreadsheet circulating on this forum with certain (whale)wallets and their (suspected) UBO's.

Could it be that a bank like Rabobank is concerned that transactions could be traced and monitored (by other customers, competitors) after a while?

Assume production company A is client of Rabobank and does a blockchain transaction with supplier B. A also does a transaction with C, which is also a competitor. If one can identify each others wallets one could monitor transactions on the wallets, monitor volume/turnover etc which could be interesting competitive info for C. Or do I overlook something?

I don't think i was very clear. I don't believe off-chain is the correct term. I was referring to off the main RPL, meaning they'll have their own internal private ledger and they settle internal account transfers/payments internally. The key connecting all this to the outside world the ILP. I don't think this "new Ripple product" was ready until very recently for active use.

 

Edit: Here is a Ripple forum post with Joel Katz responding to the issue:

https://forum.ripple.com/viewtopic.php?f=1&t=15704&start=20

Basically ILP will be a public/private marketplace connecting the shared public ledger and certain nodes in the private ledger. If you're a sub-account (ie customer of Rabobank) to a node representing the private ledger, say Rabobank itself, then Rabobank would be your connection to the ILP and make offers on your behalf at your behest. As a customer you don't always need to be connected to the shared ledger. And banks don't want to be open source, for the sake of their clients and themselves. 

I believe this solution is much more elegant than multi-sigs, which were being proposed back in 2014. 

@Sukrim my friendly mod from Reddit, may want to chime in here. He's familiar with all this. 

Edited by Atomic1221

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Somebody mentioned global agriculture and food.

I was recently at a dinner where I met the CTO of a company specialised in the application of AI to predict prices using global satellite imagery of crops to optimise the supply chain of big corps and help farmers also make better decisions based on demand.

This seems like a perfect area to use Xvia and interconnect it via ILP to reach local producers directly. The potential to revolutionise this sector using technology globally is mind boggling. 

 

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1 hour ago, invest2lose said:

what's mean?

We are familiar with Ripples product and the solution they offer as a possible improvement of the international payment system. We are looking at the Ripple interledger and have eye for x Current. We are not sure if we are gonna work with current. By the way, ripple isn't the only company who is working on this. Two years ago we tested D+H (now Finastra). At the beginning of 2019 several Dutch banks will start with instant payments for euro payments. 

 

This is the translation. The funny thing is that the mentioned Finastra is a partner of Ripple.

 

Making this topic hot again.

 

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23 minutes ago, Dutch_ins said:

20180706_130345.thumb.jpg.eb571cbf18c3fbed588af5e97396ea55.jpg

English translation:

I have received an answer from our specialist: At the moment we are investigating Ripple's Xcurrent product. However, we don't expect to implement either Xcurrent or Xrapid in the short term, we'd want to have tested it thoroughly before we actually use it. There is a big chance that there are other services that we can offer from within Rabobank that can help us with this problem but don't necessarily use the blockchain. Can I get you in contact with your local Rabobank?

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