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Zerpening Part 2: The Sequel

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I see, thanks. So we are not dreaming about domestic use of XRP in Japan,  only use for international remittance, right? (If I remember correctly, earlier there was a rumor that domestic transfer within Japan was so cumbersome, that XRP maybe used, or was it just xCurrent?)

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14 minutes ago, BluKoo said:

In theory they could use xCurrent to transfer those coins, however since they are talking about overseas remittance between different countries and native currencies, they will still benefit more from using XRP as a bridging currency on xRapid.

Can xCurrent handle other digital tokens? I'm aware xRapid can but not sure about xCurrent though ? 

 

9 minutes ago, Tako said:

I see, thanks. So we are not dreaming about domestic use of XRP in Japan,  only use for international remittance, right? (If I remember correctly, earlier there was a rumor that domestic transfer within Japan was so cumbersome, that XRP maybe used, or was it just xCurrent?)

I believe I read xCurrent is tested and used on around 40% of Japanese bank accounts already due to the outdated corridors Japan is having on domestic transfers. 

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9 minutes ago, Tako said:

I see, thanks. So we are not dreaming about domestic use of XRP in Japan,  only use for international remittance, right? (If I remember correctly, earlier there was a rumor that domestic transfer within Japan was so cumbersome, that XRP maybe used, or was it just xCurrent?)

Yeah Brad Garlinghouse said it in the Yahoo finance conference a few weeks back that Japan's internal money transfer system was so inefficient XRP actually made sense for domestic money transfers. He mentioned it was a surprise use case. So yeah maybe XRP could be the backend settlement token for all these Japanese cryptos (fingers crossed)

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9 minutes ago, Tako said:

I see, thanks. So we are not dreaming about domestic use of XRP in Japan,  only use for international remittance, right? (If I remember correctly, earlier there was a rumor that domestic transfer within Japan was so cumbersome, that XRP maybe used, or was it just xCurrent?)

If XRP is available to them and is designed to work on the system they are so incredibly happy with and ready/willing to adopt, then I don't see why they'd bother going to the hassle of creating their own coins to be honest. Especially considering the bargain price they could pick up some XRP at right now.

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3 minutes ago, CryptoOwl said:

Can xCurrent handle other digital tokens? I'm aware xRapid can but not sure about xCurrent though ? 

 

I believe I read xCurrent is tested and used on around 40% of Japanese bank accounts already due to the outdated corridors Japan is having on domestic transfers. 

Ah, I might be getting mixed up then. I thought it was xRapid which was exclusively XRP.

Edited by BluKoo

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1 minute ago, CryptoOwl said:

Can xCurrent handle other digital tokens? I'm aware xRapid can but not sure about xCurrent though ? 

 

I believe I read xCurrent is tested and used on around 40% of Japanese bank accounts already due to the outdated corridors Japan is having on domestic transfers. 

That makes sense.

1 minute ago, gtyj said:

Yeah Brad Garlinghouse said it in the Yahoo finance conference a few weeks back that Japan's internal money transfer system was so inefficient XRP actually made sense for domestic money transfers. He mentioned it was a surprise use case. So yeah maybe XRP could be the backend settlement token for all these Japanese cryptos (fingers crossed)

This also makes sense.

Just now, BluKoo said:

If XRP is available to them and is designed to work on the system they are so incredibly happy with and ready/willing to adopt, then I don't see why they'd bother going to the hassle of creating their own coins to be honest. Especially considering the bargain price they could pick up some XRP at right now.

Because they can fix it to the JPY?

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5 minutes ago, Tako said:

So to sum up, they may use xRapid and XRP for domestic transfers after all. Do we know anything more specific/concrete?

I personally fail to see any benefits doing JPY-JPY transfers in xRapid. But maybe I'm wrong? I personally think xCurrent would be sufficient to solve domestic transactions. However xCurrent is just a step away from xRapid for international payments, so it's also good progress when xCurrent is used in large scale. 

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can xCurrent use other digital tokens? 

 

Yes. xCurrent can transact any asset. I jokingly say, even XRP/Mountain Goats.

 

The key is trusting who you are settling with. xCurrent still carries with it counter party risk of you still not getting your money during settlement. It is essentially an IOU system that verifies all the assets are available for execution on both ends of the transaction.

 

However, xRapid does not carry that risk because XRP is native to the Ledger, it is designed to ensure the value settles without any counter party risk.

 

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1 minute ago, buckor said:

 

 

 

 

 

Yes. xCurrent can transact any asset. I jokingly say, even XRP/Mountain Goats.

 

The key is trusting who you are settling with. xCurrent still carries with it counter party risk of you still not getting your money during settlement. It is essentially an IOU system that verifies all the assets are available for execution on both ends of the transaction.

 

However, xRapid does not carry that risk because XRP is native to the Ledger, it is designed to ensure the value settles without any counter party risk.

 

You are getting very good at explaining these things without resorting to the long-windedness currently fashionable.  Well done!

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1 hour ago, CryptoOwl said:
  2 hours ago, Gaet said:

This teenage sage would be a lot more convincing if he got his Mum to come and make his bed prior to the show. Just sayin.

 

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Hi everyone.

Not been In this section for a while.

I hope everyone is all good :)

B.

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