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This from Western Union CEO


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3 minutes ago, xrpmeplease said:

Devastating!!! really??? cmon man, chill out, xRapid is just out of Beta and WU sends money to every corner of the globe, changing the entire "system" that their entire business is built on will take time...what Ripple is trying to accomplish is no small feat, you think it's gonna go smoothly and fast? 

Devastating, lol

In the tech world time is not a luxury. It could get devastaing very quickly for XRapid. SWIFT is not just sitting back and watching 

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4 minutes ago, gavblizzard said:

In the tech world time is not a luxury. It could get devastaing very quickly for XRapid. SWIFT is not just sitting back and watching 

So far, all we've heard are extremely positive pilots of XRP from various remittance companies.

WU haven't even finished their pilot yet. 

What do you reckon the chances are that their pilot is gonna be successful in the end?

I'm betting pretty high!

SWIFT are not a serious issue here.

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If you understand the context of what he said, it's that their current settlement infrastructure is too entrenched to see the benefit of blockchain/ ripple YET.

 

I did not expect them to move their entire operation to xrapid after the pilot. This is still a years long process. The entire global infrastructure still has to be set up.

 

Not bad news overall unless you had unrealistic expectations. 

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He is right about xRapid not being efficient. We need liquidity first, then things will start moving rapidly. I don't think players like WU will take the first step, that's way too complicated for them. We will see other players step in first - this year, if we may believe Ripple. This will push up liquidity to a level that hopefully convinces the large players to join.

About complexity, sure it won't be easy to switch the whole company to xRapid. The aim should be to start with the most inefficient payment corridors, the rest will follow later on.

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You can say WU speaks "negative" about testing Xrapid to be in front off competitors, but If Xrapid would be a succes while they are testing it then I presume that they would rather say nothing instead of saying that it doesn't work right now, I don't think Brad and the rest of the manamgent is very happy with that kind of news being dropped into the market...?

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22 minutes ago, xrpmeplease said:

Devastating!!! really??? cmon man, chill out, xRapid is just out of Beta and WU sends money to every corner of the globe, changing the entire "system" that their entire business is built on will take time...what Ripple is trying to accomplish is no small feat, you think it's gonna go smoothly and fast? 

Devastating, lol

This was one of the first pilots. The summary of what is being said is the advantages xrapid bring in its current form are not worth the dismantling aof a whole system. This is thr business world. Good ideas dont just get adopted on the basis of technical advantages. Thats a couple of big blows on both major fronts in past few days. 

1. Speculative - sbi exchange did diddly squat for the price.

2. Utility - one of the first majr pilots of xrapid is pretty subdued about the prospects of it being adopted widescale in their business model.

I also have to ask about the Brad comment recently about xrp being in bank flows. Is he again talking about pilots then i dont think there is much to get excited about. If he means they will adopt it on a large scale - then theres reason to be bullish.

 

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1 hour ago, Dario_o said:

They are trying to keep their competitors away from Ripple products?

You can say WU speaks "negative" about testing Xrapid to be in front off competitors, but If Xrapid would be a succes while they are testing it then I presume that they would rather say nothing instead of saying that it doesn't work right now, I don't think Brad and the rest of the manamgent is very happy with that kind of news being dropped into the market...?

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45 minutes ago, gavblizzard said:

In the tech world time is not a luxury. It could get devastaing very quickly for XRapid. SWIFT is not just sitting back and watching 

@Gavblizzard If you don't believe in xRapid you could always sell your XRP and move on. CEO's never tell the whole truth because the competition is awake and listening. Brad told us this week that the amount of customers for xRapid will grow exponentially this year and next year. Just listen to the good news and if you can't have patience choose another company to invest in.

 

Edited by Picard
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45 minutes ago, gavblizzard said:

In the tech world time is not a luxury. It could get devastaing very quickly for XRapid. SWIFT is not just sitting back and watching 

The entire exchange infrastructure, not to mention the XRP liquidity and xCurrent network, required for xRapid to work is just now being built! Ripple has a multi-year headstart on their competitors and XRP is behind only BTC and ETH in MC...and GPI is a band-aid at best apparently...crawl walk run

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4 minutes ago, Picard said:

@Gavblizzard If you don't believe in xRapid you could always sell your XRP and move on. CEO's never tell the whole truth because the competition is awake and listening. Brad told us this week that the amount of customers for xRapid will grow exponentially this year and next year. Just listen to the good news and if you can't have patience choose another company to invest in.

 

Please have a read of the previous post.

Also nobody invested in XRP is invested in Ripple the company. If you think that you better be selling before me

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9 minutes ago, Picard said:

@Gavblizzard If you don't believe in xRapid you could always sell your XRP and move on. CEO's never tell the whole truth because the competition is awake and listening. Brad told us this week that the amount of customers for xRapid will grow exponentially this year and next year. Just listen to the good news and if you can't have patience choose another company to invest in.

 

I like the contradiction in your phrase. :)

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53 minutes ago, gavblizzard said:

In the tech world time is not a luxury. It could get devastaing very quickly for XRapid. SWIFT is not just sitting back and watching 

Yes they are?!

As long as they don't give up their bilateral system with correspondent banks, everything they are doing equals sitting back and watching.

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