Jump to content
jlr

xCurrent and xRapid parallel usage?

Recommended Posts

It is known that switching between xCurrent and xRapid is very easy.
FIs are also interested in using xRapid instead of using xCurrent, but AFAIK the only
problem (or the biggest problem) is the insufficient liquidity of XRP.

My question is why don't they (FIs) think in small at first?
 I mean why don't they start using xRapid let's say at every 10000th transaction and in the other 9999 transactions can be run using xCurrent.
 
 This process might help to increase liquidity and frequency of using xRapid transaction could be increased while xRapid was fully adopted.
 
 What's wrong with this approach? I think if this process solved liquidity problem FIs would have already used this.

Edited by jlr
Remove unnecessary newline characters.

Share this post


Link to post
Share on other sites

One of the main things in my opinion is that the banks are not comfortable enough to use digital assets or cryptocurrencies just yet. They are a stubborn group set in their ways, but with time, and real results more banks will want to look into the tech. Ripple is already in talks with 40-50 central banks, and has roughly 140 partnerships worldwide. Another problem right now is uncertainty around regulation, I believe Ripple will thrive with regulatory clarity, as they are already working within the system. Patience is key in this market,  Ripple is trying to rewire the global payment system and provide a superior product, this will take some time. 

Share this post


Link to post
Share on other sites

Your thinking might be wrong, i'm not saying it is.

Afaik, liquidity is Ripple's responsibility and problem. I'm pretty certain about SBIgroup, WU and MG, Cambridge (part of fleetcor) will take XRP to 100$. 
By than, regulation will have stepped in and banks will be comfortable. 


Mind you, all the systems are already in place. No need for deep sea drilling to connect the network, no more cable laying, etc.. . Everything is setup for blockchain technology to take over.

image.png.67e9e4ddaf996089a2481ca7e9a930ae.png

Look at dubai.. 

Edited by Mr-MagicRipplehat

Share this post


Link to post
Share on other sites

I see regulation coming in the next year, on top of that I feel 1-2 more banks at a minimum will implement xRapid by the end of the year. Very exciting times ahead, we are in the middle of a monumental history changing movement, thrilled to be a part of it.   

Share this post


Link to post
Share on other sites
Guest
1 hour ago, jlr said:

It is known that switching between xCurrent and xRapid is very easy.
FIs are also interested in using xRapid instead of using xCurrent, but AFAIK the only
problem (or the biggest problem) is the insufficient liquidity of XRP.

My question is why don't they (FIs) think in small at first?
 I mean why don't they start using xRapid let's say at every 10000th transaction and in the other 9999 transactions can be run using xCurrent.
 
 This process might help to increase liquidity and frequency of using xRapid transaction could be increased while xRapid was fully adopted.
 
 What's wrong with this approach? I think if this process solved liquidity problem FIs would have already used this.

Well, they already do this. This is what is similar to a pilot, a very few/selected transactions occuring via xRapid while the rest follows thru xCurrent.

In fact, even when they roll out, they will not suddenly transfer all amounts via xRapid, it will probably start with transactions below say 1000 USD first, then based on their data and liquidity in the market they can increase the limit to 5000, 10000 and so on. It won't suddenly be, hey let's turn on the switch and send everything via xRapid. As long as xRapid is delivering the speed and cost advantages and as long as the liquidity is there, they will slowly switch towards this side.

Share this post


Link to post
Share on other sites
Guest
Just now, Men_of_coin said:

I see regulation coming in the next year, on top of that I feel 1-2 more banks at a minimum will implement xRapid by the end of the year. Very exciting times ahead, we are in the middle of a monumental history changing movement, thrilled to be a part of it.   

I still think the best bet we have is with SBI.

Share this post


Link to post
Share on other sites

 

6 minutes ago, ed1 said:

I still think the best bet we have is with SBI.

Yes agreed, we know it's in their best interest as well as Ripple's to have a higher xrp price, but only time will tell. 

Share this post


Link to post
Share on other sites
1 hour ago, Mr-MagicRipplehat said:

I'm pretty certain about SBIgroup, WU and MG, Cambridge (part of fleetcor) will take XRP to 100$. 
By than, regulation will have stepped in and banks will be comfortable. 


 

I'm not trying to hijack this thread into price speculation but "I'm pretty certain" are strong words.  How do you justify 100?  Feel free to PM me to keep this thread on track.  

The move from XCurrent to XRapid is being closely watched.  Aside from the treacher interview shared today very little info has been shared on the details of implementation and customer's usability with each product.  We've heard by Vias that the switch from xcurrent to xrapid is very easy which is encouraging but amounts and frequency and length of full transition between the 2 products are definitely important questions.  

Edited by aavkk

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now

×
×
  • Create New...