Jump to content
TPM

EACH TIME YOU LOSE FAITH IN XRP, REMEMBER THESE 4 THINGS

Recommended Posts

As they say in the House of Commons "here,here" .  I would add --- go take a look at how many open positions are posted at Ripple. This is not a company that's taking their foot off the gas pedal. 

Edited by xrpaware
grammar

Share this post


Link to post
Share on other sites

Great post TPM, great consolidation of key points.

I also like to ask myself from a business point of view, what other blockchain related company is at this level all around (pedigree, actual enterprise law abiding implementation in real world "delivered to market", etc)...

Simply none, period.

All warm and fuzzy again.

Edited by Thorhamma

Share this post


Link to post
Share on other sites
1 minute ago, tulo said:

Too easy to cite Chris Larsen and Ripple whitepapers....we need real analysis from external people.

For example every time they say: better FX rates....it is not true! Try to make a payment of only 50k USD now from EUR...you'd get the worst rate ever because of slippage.

Chicken and egg, MM incentive program will be the egg.

Share this post


Link to post
Share on other sites

@tulo - The facts are the facts......the system and its benefits to the Banks don't change based on some random third party's opinion. Either you believe in Ripple/RCL or you don't. Either it is the best system available for cross-border settlement or it isn't. Third parties have different agendas.....many because Ripple will terminate or make obsolete their existing protocol and they will lose their piece of the pie.

R3 may have been abandoned because RIPPLE already has what they need......and no one else can see anyone coming up with a better system. So, should we listen to THIRD PARTY'S still supporting R3 and trashing Ripple?

Maybe if a  SWIFT executive or JED comes out and attacks Ripple, should we listen to that external 3rd Party? Or, since we have educated ourselves and have seen the day by day, week by week and month by month list of banks joining ripple, we can find confidence in the 4 topics listed above because we have read EVERY QUOTE that every bank executive has made about the benefits of Ripple.

But if you need third Party's....

Per the last video, I will take the words from Deloitte, Temenos, ABN AMRO executives and partners as strong support from these third Parties. Temenos Executive getting DAILY CALLS about how to implement RIPPLE with the Temenos software. Not to mention, the100 Banks currently implementing the Ripple Protocol topped off with some CHOCOLATE SPRINKLES found on the Ripple Cheat sheet  that provides details about each of these new Banks/Resellers/Service Providers that are now partners with Ripple as well as the online articles to support them......

Any belief system, whether it is for Ripple/XRP, Political or Religious has to have a FOUNDATION OF SUPPORT for that belief system to remain strong......the 4 topics above provide that for Ripple/XRP. Without the knowledge of these 4 topics, any external 3rd party opinion(Banks leaving R3) can easily create doubt. That is what I have seen on the Chat Box and in Posts.......that is the reason I compiled this info onto one page.

Edited by TPM

Share this post


Link to post
Share on other sites

THE HITS KEEP ON COMING

What was once 20 BANKS a short time ago(Sept)  is now 30 BANKS...... "moving real money" via Ripple. See Video above...

"At Sibos in Geneva we were able to announce that more than 20 banks are now providing production quality solutions over Ripple. Developments like the ATB/ReiseBank transaction with SAP show that banks are moving beyond the experimentation phase with this technology. Typically they would have to go through big correspondent banks to get a cross-border payment completed. These are exactly the types of players that will gain and pass on great efficiencies through the use of blockchain technologies in cross-border payments." —Head of Global Sales Nilesh Dusane

 

Edited by TPM

Share this post


Link to post
Share on other sites
On 22-11-2016 at 6:37 PM, TPM said:

It seems that each time there is a shift in the Blockchain/Interledger Universe, new members and even some of the veterans lose faith in XRP and start to wonder if we have all made a big mistake by backing XRP. I have seen it time and time again in the Chat Box and in posts. Each time I hear what is perceived as potentially "BAD NEWS", I go back to these 4 examples of why 100 Banks are already using Ripple and why BANKS WILL SEE THAT USING XRP IS A NO BRAINER because NOT USING XRP WILL COST THEM MILLIONS.

So, if any of you start to loose faith, go read all 4 of these key REASONS that will reassure anyone that XRP is not going anywhere. It is here to stay and will become “THE MUST-HAVE DIGITAL ASSET!”, per the quote from our own Chris Larsen!

 

4 REASONS NOT TO GIVE UP ON XRP

 

#1 - "XRP AS A BACKSTOP" – REDUCES COST OF NOSTRO ACCOUNTS BY 60%

"The banks can use its digital currency, which can be acquired instantly, to expedite settlement liquidity. (It’s important to note that Ripple’s digital payment network, unlike bitcoin, does not only transmit its native digital currency, but can also be used to move traditional fiat currencies back and forth.)"

“It’s not on a transaction by transaction basis—instead, it involves using XRP as backstop if there’s a shortage in a day,” says Nilesh Dusane, Ripple’s head of Global Sales. He adds that the availability of XRP as a backstop means banks need to tie up less capital for settlement purposes, and can instead deploy it for other purposes. Dusane tells Fortune it will also reduce the cost of using and maintaining nostro accounts by 60%.

http://fortune.com/2016/10/20/ripple-r3/

----------------------------------------------------------------

 

#2 – ROI IF BANKS USE XRP? 11 MONTH PAYBACK PERIOD

"......A respondent bank that processes $12 billion in international transactions a year (over 5 corridors with an average transaction size of $6,30019) can assume a conservative, estimated $10 million one-time cost of deploying Ripple and a payback period of just over 11 months.

Read Whitepaper - Page #8

https://ripple.com/files/xrp_cost_model_paper.pdf

ripple_return on investment-COVER2.png

 

** WHY WOULD BANKS USE XRP?

$10 MILLION IN SAVINGS ANNUALLY USING XRP(Minimum)

As such, if BANKS can recoup $10 Million each year with Ripple + XRP, then, the math is easy. Implementing Ripple + XRP reduces bank costs(with $12 Billion in annual transactions) by $10 Million annually at a minimum based on no longer needing nostro accounts.

Not a bad sales pitch to start with..... much faster/safer settlement and cuts costs $10,000,000 EVERY YEAR.There are many other benefits and cost saving measures(see link above)......but this is a good one to lead off with!

No wonder the banks are getting on board!

----------------------------------------------------------------

 

#3 – PER THE SAVINGS FOUND IN SECTION #2, CHRIS LARSEN’S QUOTE MAKES SENSE

“XRP IS EMERGING AS THE MUST-HAVE DIGITAL ASSET”

"....Ripple remains the only company that’s captured my attention and commitment – I’m not going anywhere or starting anything else. You should only change captains when seas are calm and things are going well. And things are indeed going well at Ripple!

We’re leading the market in ‘blockchain’ cross-border payments, ILP is on its way to becoming the standard for ledger interoperability, and XRP is emerging as the must-have digital asset for institutional transactions. And as a company, we’ve never been stronger in terms of capital, talent and leadership.

I’m more excited about Ripple than I’ve ever been about anything else in fintech. And, I’m more excited now about Ripple’s opportunity than ever before."

https://ripple.com/insights/new-chapter-ripple/

Chris-Larsen.jpg

----------------------------------------------------------------

 

#4 – THE TIME IN NOW FOR RIPPLE AND XRP!

Ripple is currently working with 100 Banks.

30 Banks are currently "MOVING REAL MONEY" via Ripple.

10 Banks are creating services around RIPPLE for their clients.

 

These Banking Leaders believe......the TIME IS NOW FOR RIPPLE!

The Deloitte Partner initially misinterprets the question and thought the question was about how many years until FULL IMPLEMENTATION of the Blockchain by the Banking System. The Ripple Rep and the Temenos Rep jump in and say, THE TIME IS NOW! Later in the 6 minute Video the Deloitte Partner clarifies his position and says, Yes, the time is now for Ripple......especially if the Central Banks LEAD THE WAY and start using Ripple and other Blockchain technologies!

Not 10 years or 5 to 7 years.....but now!

 

INDUSTRY LEADERS IN VIDEO

• Patrick Stutvoet – Head of Transactions , ABN AMRO

• Danny Aranda, Head of Channels, Ripple

• Patrick Laurent – Partner, Deloitte

• Jordan Brandt – CEO, Inpher

• Darryl Proctor, Product Director - Transaction Banking and Payments, Temenos

 

 

a big thanks!

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now

×
×
  • Create New...