Jump to content
AlexCobb

Will Visa and MasterCard Need Ripple (XRP) For Global Payments?(VIDEO)

Recommended Posts

Will they? no one knows.

Do they? no. visa has been around since the 1950s; mastercard since the 60s. 

the only time they will ever see the need hang on... NO I WILL NOT EAT A COOKIE!

where was i? oh yes.. mega companies dont need XRP, Ripple, xRapid, or anything else starting with X. what they actually need is to keep up with the times / evolving technology... which is why eventually they will turn to the world of crypto. its going to up for debate for the next several years as to whether or not they will even think about using XRP.

Edited by XRPto50dollars

Share this post


Link to post
Share on other sites

The overall takeaway is that transactions are becoming more and more frequent. The need will become more and more clear to them at some point. It may be turning from an accessory to a necessity as transactions continue to grow.

Another thing to consider is that online transactions may be increasing faster than the capacity to handle them. This is actually one of the points that ripple addresses a lot.

Share this post


Link to post
Share on other sites

The hardware issue can actually be pretty real.

 

Prob some poorly managed legacy server that died, where noone knows how the (COBOL) code on this server works. thus took some time to get it fixed.

 

 

 

Share this post


Link to post
Share on other sites

I had read somewhere that one of the major credit card issuers, I don't which, is looking at block-chain for global settlement. Their payment systems work great, but their international settlement system is a pain point. I believe it was either visa or Amex specifically looking for a way into the Chinese market.

Share this post


Link to post
Share on other sites
Quote

“I think one very very important thing is getting volume on RippleNet and getting transaction flow to be where we want it to be. I think having that transaction flow as candidates to be bridged with it with XRP is tremendously important to the company. xRapid actually doing the bridging of payments with XRP, getting those things scaled, getting more partnerships, getting those live transaction volumes that are significant is incredibly important.”

“I think we’ve got the underlying technology heavily optimized for a payments use case and closely related use cases that involve movement of value…with what Ripple’s doing on the banking side, we’re trying to position XRP as a sort of intermediary asset that can provide liquidity between other assets.I think if those efforts are successful that’s gonna be a reason to use that asset if it’s more liquid and if it’s cheaper to transfer.”

“I think the thing with Western Union is that they’re such a massive company that’s been around for longer than most payment companies out there. For Western Union to take advantage of xRapid they would have to move all their volume over to something like xRapid because they already have fixed costs and optimized liquidity flows. Right now we’ve re-oriented our target customer on upstarts payment providers that’s our sweet spot.”

 

Share this post


Link to post
Share on other sites
18 hours ago, AlexCobb said:

hope you guys enjoyed this video, my tin foil hat came on for a bit but this trend of outages is starting to fascinating me. All criticism is welcome :)

Any chance of also releasing your videos as podcasts? Can listen in the car then. 

Share this post


Link to post
Share on other sites

I think this is more of a demonstration / observation of the weaknesses inherent in Centralized infrastructure. Visa/MC are both fully scalable at the global level... because they are already operating at the global level.

The difference is between how RippleNet with ILP can scale up to the global level, and how a visa/mc centralized system can scale up to the global level. The end states of the two different network topology, or architecture, or whatever you want to call it does matter.

Those visa/mc operators make for a juicy target, but they have some advantages in coordination across attack vectors to help even things out. RippleNet a different set of angles from which it can be attacked, it has only the contractual agreements with xCurrent users to "coordinate across attack vectors"... although with "streaming payments" being like "IP packets", the nature of the risk exposure is reduced to a few lost pennies of value... as long as you quit sending value down a path or through a Connector that is not preforming fast enough.

It is somewhat comparing apples to oranges, although both can make a great snack (aka payment network)... with the key difference being in each network's connection arrangements (trust lines, payment channels). Centralized vs Distributed... that stuff

Share this post


Link to post
Share on other sites

×