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Ripple CEO: Expect dozens of banks to use our cryptocurrency...CNBC


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14 minutes ago, iLeeT said:

xRapid, the product itself - yes. But this needs to be integrated/implemented into the bank's system. You have testing periods, pilots, regulation certainty etc. Maybe some of these steps are already in place for some of the banks - if that's the case then definitely we can see some production usage until the end of the year, but seeing the low volume in the past months I have my doubts. Sure, pilots are using less money for transfers, but if you want to be sure that something works as expected you need to do a bit of performance testing/real-world scenarios.. e.g. pump up the volume

I am betting on SBI to be honest. I think they are farther than we know

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https://www.cnbc.com/video/2018/06/04/ripple-ceo-expect-dozens-of-banks-to-use-our-cryptocurrency-next-year.html?__|international  

This is more than confidence from Brad, he wouldn't make this statement without already knowing its gonna happen. He knows which big banks are ready and willing to go, and I bet he's had a nod from th

There goes your meeting... ?   Below is the transcript of an exclusive CNBC interview with Brad Garlinghouse, Ripple CEO, and CNBC's Arjun Kharpal at Money 2020 in Amsterdam AK: So Brad

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19 minutes ago, Moriarty said:

That’s very promising what BG reveals. Right now only a few companies are fully on xRapid (Cuallix). I’d like to see the effect of xrp adoptation by those major banks , and I’m very interested to see what that would mean for the xrp price. 

If it’s indeed within this calenderyear that these major banks would adopt xrp fully, I’d expect that it will have huge impact on xrp price. it’s in Ripples best interest to climb to a higher xrp price. End of dec 2017 I made a 10 dollar xrp prediction, I’m still holding on to that! 

I'm with you on that. Granted I am more bullish than most and was thinking we would end the year on $10-$25 and still do. However guys like BG don't say these things lightly. He's not doing this to raise speculation. Ripple is above mere coin price and is a genuine business which is bigger, with more potential and WAY more professionalism than ANY other in the Blockchain sphere. I genuinely believe he is understating the likelihood for use this year and next. If he's saying 'dozens' next year, I'd expect 50. Easily.

Im not saying it will happen but I could see a price of $50 or $60 this year, I really could.

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xRapid, the product itself - yes. But this needs to be integrated/implemented into the bank's system. You have testing periods, pilots, regulation certainty etc. Maybe some of these steps are already in place for some of the banks - if that's the case then definitely we can see some production usage until the end of the year, but seeing the low volume in the past months I have my doubts. Sure, pilots are using less money for transfers, but if you want to be sure that something works as expected you need to do a bit of performance testing/real-world scenarios.. e.g. pump up the volume
They're not going to do performance testing of their xRapid integrations in a live production environment.. they'll performance test their own systems integration with xRapid in a controlled test environment but they certainly can't do full scale end-to-end performance testing in xRapids production environment unless all the exchanges involved in the process are collaborating and have their own production like test environments available to each bank testing - which I really doubt. So I don't think they'll be "pumping up the volume" with live transactions for testing purposes. They'll pump up the volume when they actually begin to use it for real. Plus.. the process for sending 1USD to be converted to JPY would be the same for sending 1mil USD so as long as the required liquidity is there they're good to go.. also, banks won't be performance testing all the fully operational exchanges either. It would be more along the lines of System Integration Testing. Exchanges have already gone through rigorous performance testing.
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I promised myself I wasn't going to buy more XRP , but with news like this it's hard not to buy. Well, I guess I will sleep in the street for a couple of months.

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13 minutes ago, sime990 said:
1 hour ago, iLeeT said:
xRapid, the product itself - yes. But this needs to be integrated/implemented into the bank's system. You have testing periods, pilots, regulation certainty etc. Maybe some of these steps are already in place for some of the banks - if that's the case then definitely we can see some production usage until the end of the year, but seeing the low volume in the past months I have my doubts. Sure, pilots are using less money for transfers, but if you want to be sure that something works as expected you need to do a bit of performance testing/real-world scenarios.. e.g. pump up the volume

Plus.. the process for sending 1USD to be converted to JPY would be the same for sending 1mil USD so as long as the required liquidity is there they're good to go.. 

How would one know this if it hasn't been done before though? 

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5 minutes ago, iLeeT said:

How would one know this if it hasn't been done before though? 

Having worked with software payments systems in large enterprises,  I can say that the testing would be rigorous...  and in house.  Stress testing would be done in house with dummy loads.  Nothing can really test a production system end to end until it is live though.

So my belief based on all I've heard and seen,  and in particular, this latest revelation,  is that a bank, or some banks, have already done in house testing and then perhaps trialled a payment or three.  Then maybe ramped up a bit more for some staff test payments.  All of it below the radar.

At some point by the sounds of it, they will have a throttled live run.  Perhaps pause and evaluate.  Then more of the same with ramping up the throttle.  So even though they might 'go live', it is unlikely that it will be at 100% of their payments volume.  The ramp up might take days,  weeks, or months...  that depends on their confidence and any teething issues.

This news is awesome and unlike some,  I think we can absolutely take Brad at exactly his word.  I wonder where he had previously said it...  he mentioned he had....  but perhaps that was into the bathroom mirror.   :) 

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After listening to BG, I am getting euphoria with his confidence of banks using xRapid by end of 2018 and dozens of banks using xRapid by end of 2019.

That's dozens with a 's' which would mean 24, 36, 48 or even more banks using xRapid.  Hmmm, it may be timely to increase exposure to XRP as the stars are lining up for the Bitcoin decoupling and moon ...

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