Facebook To Compete With Ripple (XRP) On Cross Border Payment

[Quintree]

3 minutes ago, FMGC said:

Facebook already has too much regulatory problems.

This news is a joke. So facebook will start allowing their users to send money right away from anywhere to nowhere freely? Hahahahahahaha

Only people who really do not understand a thing about finance would imagine such hypothetical world. We know how Ripple is doing their job for more than 5 years, creating and allowing others to create those complex infrastructures that are starting to allow the Internet of Value.

If they want a technology they buy it. But Ripple is already too big for them.

They could technically buy every XRP with all the cash and shares they hold. But, no,  they should have bought it all out last year when they had a shot. It's too late. 

[Sarnos]

6 minutes ago, Quintree said:

They could technically buy every XRP with all the cash and shares they hold. But, no,  they should have bought it all out last year when they had a shot. It's too late. 

if it is too late we should sell all our XRP right now! but i think we are just at the start to see real world adoption so FB "could" still be a big player

[Quintree]

4 minutes ago, Sarnos said:

if it is too late we should sell all our XRP right now! but i think we are just at the start to see real world adoption so FB "could" still be a big player

I don't understand what you mean. I am not selling my XRP right now at all. And how is FB going to be a big player with Ripple dominating the space?

Edited May 12, 2018 by Quintree

[Dutch_ins]

Facebook may run their own coin via the interledger protocol. More walled gardens are very much welcome. As long as we can bridge with the underlying xrp drops.

[ThomTheRipplier]

Centralized much? 

[Guest]

3 hours ago, Ripplista79 said:

My point being people trust FB less than ever.

Their stock is back up to 134 Billion. They are claiming they've regained the public's trust. IMO... FB has contributed enough to society. They should stick to what they think they know and cross border payments isn't it, unless they can contract with Ripple and use XRP. Zuckerberg and his groupies are not good for anyone... been saying it for years now. 

[Guest Ripplista79]

Facebook fiasco is not over yet.  However, I think Twitter is the next one to take a beating on stock price.

 

[Mods_are_tyrants]

I love how everyone dismisses Facebook, really! Think about they have the largest user network in the world, on the planet, on the GLOBE! Even if they just did payments under a certain amount for a relatively fast, cheap fee, through Facebook. 

No one would stand a chance for smaller payments which makes up the majority of cross border anyway.

XRP isn't dominating anything Visa and MasterCard and Swift are right now! How many companies are using just xRapid and XRP for cross border payments again? 1 or is it 2 wait we maybe 3 on the whole planet!

 

Edited May 13, 2018 by Mods_are_tyrants

[Guest]

2 hours ago, Wizann said:

They should stick to what they think they know 

yup. specialization > generalization 

[Theone01]

This isn't really facebook trying to compete with ripple, its facebook trying to compete with banks.

[Guest]

1 hour ago, zerocool said:

yup. specialization > generalization 

I was thinking more along the lines of socially irresponsible advertising, but whatev

[TheHoff]

You are a bank, one of your highest priorities is the security of your customers data and now you are thinking about dealing with the largest data sligshot ever existed? rrrriiiiight.

FBs current status is finding out how to use the blockchain and transactions seems the be the biggest billboard standing out there on the crypto parking lot. Let them. Also let them do micropayments. They will, one day, let their customers transfer money around the globe via blockchain. I am totally fine with that.Will help millions for sure so it´s a great move.

But FB will NOT be a payment provider that serves financial institutions and central banks in order to move trillions daily. There is no "compete". 

[XRPanda]

Zuc-coin?

[Benchmark]

1 hour ago, bachmama said:

You are a bank, one of your highest priorities is the security of your customers data and now you are thinking about dealing with the largest data sligshot ever existed? rrrriiiiight.

FBs current status is finding out how to use the blockchain and transactions seems the be the biggest billboard standing out there on the crypto parking lot. Let them. Also let them do micropayments. They will, one day, let their customers transfer money around the globe via blockchain. I am totally fine with that.Will help millions for sure so it´s a great move.

But FB will NOT be a payment provider that serves financial institutions and central banks in order to move trillions daily. There is no "compete". 

Exactly. And I'm not even sure if people will use FB for micropayments, given their awful track record in terms of privacy. 

They basically sell the privacy of users, and now all of a sudden people will trust them with money? There is no way. FB will probably become a subscription service, or it will die a slow death.

[panmores]

Never laugh off a giant like Facebook.