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RikkiTikki

A Little weekend speculation

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Unlikely I feel given that less than 1% of the population actually hold crypto and a good deal less xrp why would Amazon invest the huge amount required? Plus Ripple, as we know,  has a ‘lazer like’ focus on cross border settlement not retail . Yet.

Edited by Geospectrum

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21 minutes ago, Geospectrum said:

Unlikely I feel given that less than 1% of the population actually hold crypto and a good deal less xrp why would Amazon invest the huge amount required? Plus Ripple, as we know,  has a ‘lazer like’ focus on cross border settlement not retail . Yet.

Amazon could consider it a speculative buy with marginal utility in their retail juggernaut.   Bezos likes the newest things - they just bought security firm Ring.  It would be yet another arrow in Amazon's quiver.

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3 hours ago, Richretard said:

Or it could be used for cross-border settlement within the Amazon concern. Paying suppliers in China, transferring profits from the UK to Seattle and so on.

I see this as a use case going forward for a number of major multinationals. Why bother paying banks to settle their internal cross-border currency needs when they can join Ripple and move their own money around? Obviously only worth doing if they save more on bank fees than Ripple licensing costs.

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28 minutes ago, OzAlphaWolf said:

I see this as a use case going forward for a number of major multinationals. Why bother paying banks to settle their internal cross-border currency needs when they can join Ripple and move their own money around? Obviously only worth doing if they save more on bank fees than Ripple licensing costs.

I do find this use case interesting as well and for multinational businesses it could be huge. Not only for the business itself, but customers and 3rd party merchants using their services. Same use case would be perfect for travel industry, Airbnb, Uber etc. I am just wondering if it's possible for them to bypass banks, I doubt that. So rather they should put pressure on their banking partners to enable Ripple powered payments. I'm assuming bottle neck would be existing credit card providers as they have some delays on reconciliations... But it would be already significant improvement if SWIFT delays can be avoided. Enabling direct Ripple powered retail payments does not seem possible yet without custom development and is neither focus of Ripple at this point.

It would be interesting to see possibility to link your Ripple powered bank account to Google Pay or Apple Pay and similar well established payment services. As far as I see the situation we are missing the software to do this linking. It could be something like Stripe which makes it easy for banks and merchants to deploy the new payment method with turnkey solution. 

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42 minutes ago, OzAlphaWolf said:

I see this as a use case going forward for a number of major multinationals. Why bother paying banks to settle their internal cross-border currency needs when they can join Ripple and move their own money around? Obviously only worth doing if they save more on bank fees than Ripple licensing costs.

This is basically what xVia is for right?

we are all waiting for banks to send us to moon, but retail adoption might be taking us there first.

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1 minute ago, HodlOnASec said:

This is basically what xVia is for right?

we are all waiting for banks to send us to moon, but retail adoption might be taking us there first.

xVia is for corporates, payment providers and banks who want to send payments across various networks using a standard interface. xVia's simple API requires no software installation and enables users to seamlessly send payments globally with transparency into the payment status and with rich information, like invoices, attached.

Hmm, I thought that xVia was just a messaging platform which doesn't utilize XRP. 

Process payments on demand with tracking and delivery confirmation, even in non-traditional networks, like wallets.

But apparently it does work with wallets as well, so it's basically a layer to handle detailed payment information on RippleNet. 

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Imagine the potential for Amazon etc. to byepass banks and transfer payments from countries to regional hubs. Or someone like Facebook to handle payments for Facebook ads. And so on...

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30 minutes ago, HodlOnASec said:

Imagine the potential for Amazon etc. to byepass banks and transfer payments from countries to regional hubs. Or someone like Facebook to handle payments for Facebook ads. And so on...

Yes possibilities are endless, I do hope Ripple will be the one implementing it sucesfully without any copycats coming with the same features for retail.

Ripple will primarily be used as a backend software solution. It was not intended as a payment solution for regular customers like you and me. I am quite sure Amazon still wants people to pay with regular FIAT, but is actually interested in speeding up and reducing costs on the infrastructure beneath.

Edited by Plikk

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4 minutes ago, Plikk said:

Yes possibilities are endless, I do hope Ripple will be the one implementing it sucesfully without any copycats coming with the same features for retail.

Ripple will primarily be used as a backend software solution. It was not intended as a payment solution for regular customers like you and me. I am quite sure Amazon still wants people to pay with regular FIAT, but is actually interested in speeding up and reducing costs on the infrastructure beneath.

I think it would be a mammoth effort for copycats to replicate what ripple is doing, because the USP for Ripple is how the digital asset and the applications work together, plus an actual team to implement and provide support.

 

I don’t foresee us ever paying for goods with XRP. What I meant was, imagine Amazon India, Amazon Singapore etc. settling balances with Amazon HQ without having to go through banks... 

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1 hour ago, HodlOnASec said:

Imagine the potential for Amazon etc. to byepass banks and transfer payments from countries to regional hubs. Or someone like Facebook to handle payments for Facebook ads. And so on...

I work in the prepaid space and work with a lot of these guys (Apple, Google, Amazon, Uber etc). I’ve written about about this as a use case before - I know that the potential is huge, given that most of these guys route payments globally back to one or two hubs (Ireland, Luxembourg, The Netherlands) dependent on their tax structures. In some cases, there’s currency/exchange controls meaning they have to leave piles of money in country or incur withholding a taxes. XRP isn’t going to solve for that, and would have to work within exchange control regulations per country etc - BT the sheer volume of payments for these guys from all over the world flowing back to the center is mind boggling.

One of the most obvious ones to me - and I barely darent mention it - is Uber drivers paying Uber their 20% cut or whatever it is. There’s a whole load of logistics in that process that must involve drivers receiving payment, then paying local Uber entities and Uber entities then paying HQ. The possibilities for XRP to be involved and revolutionise - expedite - lower costs of that process are mind boggling, whichever way you look at it. It’s the same for Apple, Google, Netflix, Facebook - all these Bay Area companies who are operating globally.

i don’t have any inside information, just awareness of these challenges that they have. But I would be ABSOLUTELY AMAZED if some of these big guys aren’t already looking very closely at Ripple solutions and eying up eventual XRP adoption in their international remittance/settlement space - and latterly in their payments space -  at some point in the future.  I’d be almost willing to bet that one or two of them may be trialling already. Why wouldn’t they?

 

EDIT: Plus, if they DID accept XRP as payment, they bypass the 2-3% merchant services charges that the card companies sting them with, they get settled immediately and the money can immediately land where they need it to land. I mean it’s a no brainer.....:

Edited by NorthLane
Typos...

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I’ve also wondered about the Uber use case. You’re absolutely right, it makes perfect sense. 

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