Will Interledger Be the New World Bank?

[mm34505]

11 minutes ago, Julian_Williams said:

How do you peg the dollar to XRP?   There are trillions of dollars and only 100 billion XRP, what rate do you give XRP, do you divide the XRP into dollars to get a value?  The the US would have to buy stock of the XRP tokens to sell at the rate.  How do you print more Dollars without altering that XRP/Dollar relationship?  Other countries would simply ignore the attempt to peg the dollar to XRP and value the XRP how they wanted.

I think JC Collins has it right, countries will issue their own digital currencies, maybe using the technology/services of Ripple Labs.  People will put digital dollars in one end of XRapid and get digital Yen out of the other, the money will travel as XRP.  XRP would become the inter-currency, then people would just buy the inter-currency rather than have digital yen and digital Dollars, so XRP become the de facto reserve currency in which goods become measured.

By the way this is just me, a non economist, imagining in my head how things might work

5

What you just said 

"I think JC Collins has it right, countries will issue their own digital currencies, maybe using the technology/services of Ripple Labs.  People will put digital dollars in one end of XRapid and get digital Yen out of the other, the money will travel as XRP.  XRP would become the inter-currency, then people would just buy the inter-currency rather than have digital yen and digital Dollars, so XRP become the de facto reserve currency in which goods become measured."

Would be the best thing that could happen!  The price would sky rocket it would be insane!

[Ivandebeers]

34 minutes ago, Julian_Williams said:

How do you peg the dollar to XRP?   There are trillions of dollars and only 100 billion XRP, what rate do you give XRP, do you divide the XRP into dollars to get a value?  The the US would have to buy stock of the XRP tokens to sell at the rate.  How do you print more Dollars without altering that XRP/Dollar relationship?  Other countries would simply ignore the attempt to peg the dollar to XRP and value the XRP how they wanted.

I think JC Collins has it right, countries will issue their own digital currencies, maybe using the technology/services of Ripple Labs.  People will put digital dollars in one end of XRapid and get digital Yen out of the other, the money will travel as XRP.  XRP would become the inter-currency, then people would just buy the inter-currency rather than have digital yen and digital Dollars, so XRP become the de facto reserve currency in which goods become measured.

By the way this is just me, a non economist, imagining in my head how things might work

You forget the dollar was pegged to gold at one stage. It is possible to peg the dollar to xrp. The dollar was always the go to asset and xrp will become the go to asset. 

[Ivandebeers]

36 minutes ago, Julian_Williams said:

How do you peg the dollar to XRP?   There are trillions of dollars and only 100 billion XRP, what rate do you give XRP, do you divide the XRP into dollars to get a value?  The the US would have to buy stock of the XRP tokens to sell at the rate.  How do you print more Dollars without altering that XRP/Dollar relationship?  Other countries would simply ignore the attempt to peg the dollar to XRP and value the XRP how they wanted.

I think JC Collins has it right, countries will issue their own digital currencies, maybe using the technology/services of Ripple Labs.  People will put digital dollars in one end of XRapid and get digital Yen out of the other, the money will travel as XRP.  XRP would become the inter-currency, then people would just buy the inter-currency rather than have digital yen and digital Dollars, so XRP become the de facto reserve currency in which goods become measured.

By the way this is just me, a non economist, imagining in my head how things might work

Also you forget that there is 100billion xrp but that 100billion breaks down to 1million drops each

[Julian_Williams]

15 minutes ago, Ivandebeers said:

Also you forget that there is 100billion xrp but that 100billion breaks down to 1million drops each

Perhaps we could simply start thinking of the US dollar as the XRP-Droplet or XRPlet for short

[JNYC]

GOD BLESS AMMERICA!

I am a Big holder and Big fan of XRP compared to any other "digital asset"!!

Anyone that thinks the US dollar will go away & be replaced by XRP...

IS HIGHLY DELUSIONAL!!!

[noucktourno]

2 hours ago, Ivandebeers said:

I just dont see the Americans giving up their dollar superiority. What i can see is a possible merger of the US dollar and XRP. Seeing as the dollar is on a major decline globally as well as Americas rising debts, xrp will not be allowed to operate as a competitor to the Dollars superiority as an XRP global standard would be an instant dollar killer. XRP will eventually become the oxygen of the financial world. But a merger would see the US dollar rise in value again. Those in power would keep their dominance and have the edge against rogue nations.

XRP will not replace USD.  It will be some kind of USD ledger, GBP leger, EUR ledger and all of these will use Ripple Interledger protocol and so XRP for settlement.

[Flintstone]

1 hour ago, Julian_Williams said:

I think JC Collins has it right, countries will issue their own digital currencies, maybe using the technology/services of Ripple Labs.  People will put digital dollars in one end of XRapid and get digital Yen out of the other, the money will travel as XRP.  XRP would become the inter-currency, then people would just buy the inter-currency rather than have digital yen and digital Dollars, so XRP become the de facto reserve currency in which goods become measured.

By the way this is just me, a non economist, imagining in my head how things might work

I made the same prediction yesterday in this topic 

But I can’t help but think SDR’s have a bigger role to play with regards to a reserve currency. https://en.m.wikipedia.org/wiki/Special_drawing_rights

 

[MaxEntropy]

Collins is an odd duck... as I recall he resides in Canada... I think in Alberta or maybe BC. I think he has a close family relationship with someone who works in the World Bank or maybe the IMF.

So... It may be useful to read his words carefully.

--

Ripple could succeed in this capacity as they will be told what to do, thereby removing the requirement for innovation.

[Ivandebeers]

1 hour ago, JNYC said:

GOD BLESS AMMERICA!

I am a Big holder and Big fan of XRP compared to any other "digital asset"!!

Anyone that thinks the US dollar will go away & be replaced by XRP...

IS HIGHLY DELUSIONAL!!!

You should tell that to the Roman empire, dutch empire, french, british etc. US dollar is in decline and in major problems. The only way it will survive is being pegged to gold or something like xrp. Most economists think gold but i think cryptos are the future

[Rentipple]

I have been doing some digging and found this article through the World Bank website, which linked me to CGAP.  This article outlines the benefits of Ripple/XRP in 2015, showing how long background work could have been done to prepare.

 

http://www.cgap.org/blog/‘ripple’-effect-why-open-payments-infrastructure-matters

[Ivandebeers]

5 minutes ago, Rentipple said:

I have been doing some digging and found this article through the World Bank website, which linked me to CGAP.  This article outlines the benefits of Ripple/XRP in 2015, showing how long background work could have been done to prepare.

 

http://www.cgap.org/blog/‘ripple’-effect-why-open-payments-infrastructure-matters

Good find. These bankers always plan ahead. They have big plans for Ripple and XRP. All about timing.

[Rentipple]

Here is another article from 2017 presenting an overview of distributed ledger technology and all of the potential implications for the World Bank.  I am providing a link and passages of interest below.

http://documents.worldbank.org/curated/en/177911513714062215/text/122140-WP-PUBLIC-Distributed-Ledger-Technology-and-Blockchain-Fintech-Notes.txt

Yes, Yes, I know this is only compiled data for review by TWB but it shows that they have been doing their due diligence and we all know what company has positioned itself to offer a global currency alternative.  

 

[Julian_Williams]

53 minutes ago, MaxEntropy said:

Collins is an odd duck... as I recall he resides in Canada... I think in Alberta or maybe BC. I think he has a close family relationship with someone who works in the World Bank or maybe the IMF.

So... It may be useful to read his words carefully.

--

Ripple could succeed in this capacity as they will be told what to do, thereby removing the requirement for innovation.

 

[Julian_Williams]

Anyone who likens the

26 minutes ago, Julian_Williams said:

 

Anyone who likens the Dollar and reserve currencies to an ouroboros is eccentric, creative and worth reading and any predictions about where XRP will end up has to be taken with a pinch of salt.  Having said that Ripple Labs have had a run of getting things right and they seem to be building their suite of products with a lot off forethought.  

Broadly the project, as outlined by Hodor, started with the founders trying to get rid of PoW and Mining for a lending network, this research allowed them to speed up and scale up the Ledgers (as I understand it)  Targeting SWIFT was an afterthought, and now that their Internet of Value is beginning to become reality the concepts that spin off it are beginning to multiply.  Replacing SWIFT and then the Dollar as a World Reserve Currency were not objectives in the minds of Ripple founders when they started.  The spin-offs look to be huge, from providing replacements for credit cards to micropayments attached to aps and smart contracts. 

I remember in about 1998 trying to buy domain names that would predict the usages of the internet, for instance: Vidoephones and Wristphones were two I wanted to buy.  Both have happened but in oblique manners, in the end it was Snapchat, Twitter, Texting, Selfies and Uber that dominated the usage of i-phones.  No one sets off to buy a videophone or wristphone.

I have heard that Digital wallets might become our bank accounts, but without banks at all being needed.  Like many homes do not have a land line any more, future genreations might not have bank accounts. Digital Wallets, (I do not own one, my XRP are bought through Etoro) might be incorporated into our mobile phones (I do not own one), so I am right out of my comfort zone here. 

Edited April 10, 2018 by Julian_Williams
spelling

[MaxEntropy]

Hodor... is a good natured and well meaning zealot.

I can easily see Ripple taking on the glue functionality for nation state crypto fiat and BIS/CB services... for as long they exist. I have said, that the muppets here, will do very well financially, but this is not a paradigm shifting mental state or participation in the future. Ho-hum... what software developer wishes to embrace more of the current power dynamics??

--

What is required is the ability to trade value independently of the centralized power brokers. This will not happen with the visionaries at Ripple. As Margaret Meade would say... innovation comes from the edge and fringe thinking. This is the space of AI Bots and DEXs... coupled with merchant adoption at the end points. These concepts are outside the scope of the Ripple's central banks.

There is not a single country that does not understand the burden that the central banking folk play in everything... these folks need to be dis-intermediated. I do not see Ripple working in this direction. Thousands of cryptos coupled with DEXs - operating outside the scope of the central bank's will diminish their role, to the point that they are ineffectual and not profitable. Remember the middle men do not provide value.