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Ripple and Swift slug it out over cross-border payments


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"Correspondent banking is a 1998 model and we are busy addressing that, bringing it to a 2018 model."

It's already half way to 2019 bud.  And Ripple started in 2012?

SWIFT didn't even see it coming until 2017.

Maybe 2016.

Personally, I don't like a company that slacks or "lollygags" for a decade sucking up profits without any desire to improve their model.

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More than 100 banks have signed up with the blockchain-based challenger but the incumbent is fighting back

This sentence alone speaks volumes. The writer may be pro-SWIFT and his choice of words let's on that he knows Ripple is moving in and SWIFT isn't handling it well. 

It's very subtle. I'm going to rewrite the sentence, and see if you can spot the difference. 

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 More than 100 banks have signed up with the blockchain-based challenger and the incumbent is fighting back

Do you see it? 

In the first instance the writer shows conflict and fear and wants you to ignore Ripple's 100 banks by using "but". In my rewrite I changed just one word, "and" which conveys SWIFT is in to win and isn't worried about Ripple's progress. 

So, like it or not, the writer showed his hand that he knows SWIFT is in trouble. 

Linguistics is fun! 

Edited by Guest
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 Their one-upmanship was underlined last year when Ripple tried to upstage Swift’s Sibos conference

Did they not? I thought they did. Upstage might not be accurate but if I recall correctly, that was quite a disturbance and nearly every financial news outlet took notice. 

Edited by Guest
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It's coming. It's too late SWIFT. When you're outmanuevered, you simply have to side while you still can. If you refuse, the tech, the opportunity to make more money by your other competitor banks, and the rapid nature of change will weaken your position until your extinct.

SWIFT execs, Google search boarders and blockbuster. You'll see where this will end. 

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It does seem like a propaganda scheme against Ripple/XRP for sure. But maybe it's just the position of the author of this article because here is a nice youtube clip showing some connections to Ripple that many aren't even aware of. It indicates that Ripple is connected to Digital Currency Group who is connected to Circle who is connected to Goldman Sachs and Poloniex which is owned by Circle who is backed by Goldman Sachs. It's a rather interesting connection map. To answer the question in the video "Who is Barry Silbert?" He is the creator of Digital Currency Group and provided early funding of Ripple itself. 

"Digital Currency Group was launched in 2015 by Barry Silbert, who previously founded SecondMarket, Inc.. He began investing in bitcoin companies in 2013, first as an angel investor, and provided funding for many of the earliest companies including Coinbase, BitPay, and Ripple.

Digital Currency Group was formed when two businesses built under the SecondMarket parent company – Genesis Global Trading, a bitcoin OTC trading firm, and Grayscale Investments, a digital currency asset management firm that manages the publicly traded Bitcoin Investment Trust (Symbol: GBTC) – were combined with seed investments founder Barry Silbert had made in the bitcoin and blockchain space.

In 2016 DCG partnered with Amazon Web Services to create a laboratory environment allowing companies to experiment with blockchain technologies.[2]"

"Established in 2013, Grayscale is a digital currency investing firm. It manages the Bitcoin Investment Trust (BIT), provides titled, auditable bitcoin exposure through a traditional investment vehicle. BIT shares are the first publicly quoted securities solely invested in, and deriving value from, the price of bitcoin. The Trust trades under symbol: GBTC on the OTCQX market, and is only available to accredited investors.[3][4]"

https://en.m.wikipedia.org/wiki/Digital_Currency_Group

Here is the youtube link of Ripple connections, 

 

 

 

 

 

Edited by dAck
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4 hours ago, dAck said:

It does seem like a propaganda scheme against Ripple/XRP for sure. But maybe it's just the position of the author of this article because here is a nice youtube clip showing some connections to Ripple that many aren't even aware of. It indicates that Ripple is connected to Digital Currency Group who is connected to Circle who is connected to Goldman Sachs and Poloniex which is owned by Circle who is backed by Goldman Sachs. It's a rather interesting connection map. To answer the question in the video "Who is Barry Silbert?" He is the creator of Digital Currency Group and provided early funding of Ripple itself. 

"Digital Currency Group was launched in 2015 by Barry Silbert, who previously founded SecondMarket, Inc.. He began investing in bitcoin companies in 2013, first as an angel investor, and provided funding for many of the earliest companies including Coinbase, BitPay, and Ripple.

Digital Currency Group was formed when two businesses built under the SecondMarket parent company – Genesis Global Trading, a bitcoin OTC trading firm, and Grayscale Investments, a digital currency asset management firm that manages the publicly traded Bitcoin Investment Trust (Symbol: GBTC) – were combined with seed investments founder Barry Silbert had made in the bitcoin and blockchain space.

In 2016 DCG partnered with Amazon Web Services to create a laboratory environment allowing companies to experiment with blockchain technologies.[2]"

"Established in 2013, Grayscale is a digital currency investing firm. It manages the Bitcoin Investment Trust (BIT), provides titled, auditable bitcoin exposure through a traditional investment vehicle. BIT shares are the first publicly quoted securities solely invested in, and deriving value from, the price of bitcoin. The Trust trades under symbol: GBTC on the OTCQX market, and is only available to accredited investors.[3][4]"

https://en.m.wikipedia.org/wiki/Digital_Currency_Group

Here is the youtube link of Ripple connections, 

 

 

 

 

 

Sorry for all the images I can't figure out how to remove them. :)

Edited by dAck
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