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AlexCobb

Will The Federal Reserve Use Ripple?

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From what I've seen in the past in this subject, it's about promoting decentralized  ledger technology, not XRP, as a means for faster payments. xCurrent technology could do that, although missing the cross border settlement part XRP provides (mind you - this Fed project isn't about cross border payments either, US domestic payments are the focal point AFAIK).

I agree "Ripple" (the company) is well-positioned to at least get a piece of the cake, but please don't swap the XRP and Ripple names as if they are the same. They are not, and so far I haven't seen evidence that this Fed Reserve process is indeed about XRP instead of Ripple. You can prove me wrong , though - please go ahead.

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On 4/23/2018 at 3:02 AM, mm34505 said:

Later this month so any day now it can come

After reading and researching here is what I found:  Bascially out of the 25 its down to 16 with Ripple in the running still...............

At the beginning of the process, the QIAT received 25 proposals submitted to the FPTF. Two of these proposals missed the April 30 deadline, and another submitted an incomplete proposal. Two more opted out of the proposer Q&A session after reviewing the QIAT’s Preliminary Draft Assessment. One more opted out before their proposal was distributed to the FPTF on September 29. Three more proposers opted out of the final report, leaving 16 final proposals.

 

THE 16 PROPOSERS ARE: DWOLLA SHAZAM HUB CULTURE SWAPSTECH INTERCOMPUTER TCH/FIS KALYPTON/ECCHO THOUGHT MATRIX MOMO TOKEN NABC/ICBA UNIVERSITY BANK NANOPAY WINGCASH RIPPLE WORLD CURRENCY

American-Banker-2017-07-26.png.93d853ba64b6174af62cb7dfb79a177f.png

I took this from Kalyptons Website. Don´t know if it´s really legit. Maybe someone with more knowlege about the criterias could dig deeper here.

Edited by bachmama

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Screenshot_20180424-095332.thumb.png.285453974d7c6ea2e5e35abec381cc3a.pngScreenshot_20180424-094036.thumb.png.0ce7da16195fc17ff8e00003ff3e93a0.pngScreenshot_20180424-094043.thumb.png.4702d2647275fb8479b85dfc890e51ca.pngScreenshot_20180424-094126.thumb.png.41f30b2dbae30bc225d5f266853a1930.pngThe QIAT final assessment is 14 pages long (pages 132-146 in report) so won't post entire assessment here but interesting none the less. Sorry if someone has already posted this but didn't see it anywhere. Can be found here under Ripple https://fasterpaymentstaskforce.org/effectiveness-criteria-and-solution-proposals/

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The Faster Payments task force is promising for Ripple, but I wouldn't expect any wiz bang news out of this "Governance Framework Draft" - I think you guys are missing a few points.

First, the solicitation from the Faster Payments task force specified many criteria that are desirable in a faster payments ecosystem / solution and allowed proposal responses that only partially satisfied the requirements of the solicitation, they allowed this because it was unlikely that any one solution would meet all the requirements of the solicitation. Sixteen proposals were down selected, but only two were marked as meeting the requirements for cross-border payments, of which Ripple was one. I assume that two was the minimum for any category or requirement, the government does not want to be seen as picking winners and losers in the market place, the faster payments task force made this clear.

Second, what is being released is a "Governance Framework Draft" that is being made available for stake holders (Visa, MasterCard, Wal-mart) who have a vested interest in the payments space to provide their feedback in regards to the draft. A Governance Framework will describe how the working group will reach consensus on decisions in regards to how, when, and why to implement XYZ solution or standard into the new Faster Payments ecosystem. Establishing a governance and allowing stake holders to have a say in the process design of said governance keeps things fair and makes sure all interested parties have a chance to be heard.

Why a governance framework? Because the large players in the payments space can't be compelled to adopt a standard solution or really do anything that isn't described in new or existing laws, and the whole faster payments initiative falls down without the democracy of a governance framework. You really should think of the Faster Payments task force as an "influencer" or "Steering Committee" not a dictatorial body with the power to compel anyone to do anything.

 

 

Edited by slinuxuzer

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On 4/23/2018 at 5:58 AM, XRPRJB said:

The others have the sort of made up names you'd expect to find on an ICO. I'm a little surprised Titcoin isn't in there. Perhaps they are major players in the financial market but I get the feeling there's one horse that is well ahead of the pack in this one..

Mmm, titcoin.,,

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On 4/22/2018 at 3:35 PM, BluKoo said:

Is there actually a credible source for Brad Garlinghouse saying xRapid went live internally? All I've seen is a reddit post where some guy said that Brad said or something like that.

Also, what does going live internally actually mean? Internally where? With whom?

Yes,I recall it was in one of his last few interviews. See bankxrp,YouTube channel.

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On 4/22/2018 at 3:41 PM, Pan_OS said:

Hello Alex, interesting thought and i agree that something is in the works with the FedPayments improvement org. i can even see that they have uploaded a Ripple video 

Ripple - Real Time Cross Border Transactions on their youtube channel on Feb 2016! this means they have been excited about the Ripple tech and on the video description it states :

Effectiveness Criteria addressed: • U.5 Cross-border functionality • U.6 Applicability to multiple use cases • E.1 Enables competition • E.2 Capability to enable value added services • F.1 Fast approval • F.2 Fast clearing • F.3 Fast availability of funds to payee • F.4 Fast settlement among depository institutions and non-bank account providers • F.5 Prompt visibility of payment status • S.3 Payment finality • S.4 Settlement approach

I really believe that Ripple is already in works with many major Central Banks and organizations around the world and laying the foundation for the evolution of the global payments network. A lot of tests,decisions and plans i believe have already been realized and made and its a matter of time and timing between many different actors for the future of Ripple and XRP to unfold before us.

ps. this is my first post here, and i wanted to congratulate you and thank you on your focus and work on Ripple and XRP all this time with your videos (watching since Dec everyday), your youth and enthusiasm creates a really unique case that the Ripple community is i believe lucky to have for a voice, helping people grasp Ripple's potential. Hello to the rest community on XRPchat as well i'm long time lurker :) 

Thanks!

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14 hours ago, XRP--mv said:

The QIAT final assessment is 14 pages long (pages 132-146 in report) so won't post entire assessment here but interesting none the less. Sorry if someone has already posted this but didn't see it anywhere. Can be found here under Ripple https://fasterpaymentstaskforce.org/effectiveness-criteria-and-solution-proposals/

those reports are all over 12 months - 21/02/17

dwolla in the top range also has its limitations in its final so 14 months later I would think all participants have improved on their respectives    :unsure:

Edited by fiik

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Sorry, not much input from my end, but looking at the topic title for a few days I just wanted to come in and say:

No.

These surrealistic expectations are crazy and keep setting up the community for disappointment.

Edited by bm32533476

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16 hours ago, mm34505 said:

so does not look like they are going with Ripple

It's a gov program, so it will get farmed out to a business with political connections as pork, and likely does not reflect actual effectiveness or efficiency. The gov doesn't solve problems problems like this, it is simply too restricted by politics or law. 

Edited by Wandering_Dog

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