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SWIFTNet using RippleNet?


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If swift joins ripple or ripple joins swift great. An established world wide recognized money transfer organization can't be a bad thing for the price of xrp. I do not know Ripples long term strategic outlook for competing in and disrupting, what is now a multibillion dollar economy. The only thing that is important for us is usage and the acceptance  of xrp. Anyway that happens is a good thing. Yes, every government is going to place rules on how xrp operates within or through their own country. The U.S. sanctions will apply to XRP as it would with any other form of monetary transfer. Especially to another nation considered an enemy or a threat. The same goes for Russia not buying chicken legs while china forbids the import of chicken feet. A couple years ago that was actually a deal maker in trade. Anyway what we need is usage, I have tried to tell my boss to accept xrp or other certain cyrpto assets for payment for services, but I do not think that will happen. Usage is key. Usage comes with acceptance. Acceptance comes with ease, savings, and trust.

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Some food for thought...   Is there a possibility that SWIFTNet is actually using RippleNet behind the scenes?   I remember bearableguy123 saying something about "SWIFT's time has

To me it seems logical that swift will join ripple net for liquidity and settlement solutions for their customers while still maintaining the relationships and control (see sanctions etc in emerging m

All of this would mean Moon.. A-SAP..

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SAP is known for its ability to deal with legacy systems and integrations as they are specialists in that area.

 

So with the HANA cloud it looks like they've used that expertise to set up a system that can integrate with multiple legacy systems and provide, for example, a communication mechanism via say Javascript API based HTTPS request to RippleNet

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1 hour ago, Ivandebeers said:

SWIFT is just a banking organization, not a company. The Swift banking system is being used by the US as a weapon against other nations like Russia, china, iran etc. The US can block nations from using the Swift system and this is one of the reasons it is doomed to fail when the US dollar is no longer the reserve currency. 

Swift has 2 options as we near the end of the petro dollar monetary system. They can die away or die away slowly. 

Swift will be useless in any new monetary system especially if competing against the likes of ripple. Swift is not really making much money to compete with ripple so they will just bend the knee to ripple and step aside. 

OR: they will eventually be acquired by Ripple, because Brad G stated that he wouldn't use their technology to necessarily shut people down, but to buy them out. (he likes to acquire rather than to destroy)

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3 hours ago, Triple said:

Unless someone can come up with a counter argument as to why this isn't possible I think we can safely say that there's enough evidence out there to consider this a possibility.

The likelyhold of this possibility? Who knows.

These could be the breadcrumbs to something much bigger than we're currently seeing.

Some food for thought - not counter arguments per say, but definitely taking foot off the accelerator: 

Quote

 

 Ripple’s Head of Strategic Accounts Marcus Treacher who went on to say that there can only be two outcomes in the Ripple vs. SWIFT battle; the first is that they will both coexist with Ripple processing the time-sensitive transactions while SWIFT processes the rest and the second is that Ripple becomes so widely used that SWIFT is gradually phased out of the market.

 

From  -  https://ripplenews.tech/2018/04/21/ripple-swift-never-partnering-ripples-head-strategic-accounts/

The November speculation sounds like it is referencing the deadline for the August Swift update, nothing more:  

On 4/18/2018 at 2:55 AM, mrenne_17 said:

No, there is no November update. Those rumours are spread by people misinterpreting the last tweet by Swift about their system upgrade.

The system upgrade has been released in August last year and is mandatory for all members by November. This means that support for the older releases will be discontinued. This means, all members are obliged to upgrade to 7.2 if they want to continue Swift services. But a number of members have already upgraded their systems. So for those that don't want to believe me: those members should already be using Ripple services right now, and we would have known.

One of the reasons why a mandatory upgrade is necessary is that the new version allows for tracking of payments: tracking data will be sent with all future payments so that banks using the GPI tech will be able to track their payments even if they are routed through non-GPI enabled banks.

We will need to wait and see, yes. But not for the 7.2 release. The 7.3 release is scheduled for August this year, I also don't expect any Ripple tech integration here, but Swift is definately looking into DLT so it's certainly something for the future.

Swift takeover by Ripple: impossible. Swift is a bank owned cooperation. If the banks want to work with Ripple they can do that individually or through Swift, but Swift can not be Ripple-owned.

Ripple takeover by Swift: impossible. Swift does not have the money for that.

But things may have changed as of today if there has been enough behind the scenes adoption by many banks in the network that SWIFT can see the writing on the wall.   Could the tide be turning? Some responsible reflection:

On 4/18/2018 at 12:26 AM, mrenne_17 said:

You don't need to be confused. A cooperation between Swift and Ripple totally makes sense, but it is a very, very big step for Swift and both Swift and Ripple are not ready for it right now. Just give it some time.

Swift has extensively tested Ripple tech as part of their blockchain/dlt monitoring projects and they know it works well. If you ask me, Ripple tech is the only tech on the market at the moment that would make sense for Swift. But not all the lights are green yet: there is regulation, liquidity problems, xRapid is not released yet,...

Just let them first move from stoneage to Swift GPI, it is a very important step for them as the Swift system has not changed for 600 years. Member banks will appreciate the faster payments, the tracking possibilities and the higher reliability and this will push them into looking at what more you can do. And then the next step is Swift further looking into DLT, this is one of their priorities for this year. Swift knows very well what is happening on the market but is also a very slow organization, reluctant to make big changes.

In any case, many Swift members will adopt xRapid before Swift does. They can pressure Swift to do the same, or Swift will make itself useless.

One big obstacle is that the giant member banks both profit and exert influence through SWIFT.  As profit decreases (increasing XRP's appeal) a cooperative setup would allow the big banks to still exert influence.   

What could be potentially earth-breaking is if SWIFT asked Ripple for exclusive rights and became the central Ripple integrator, instead of individual banks adopting RIpple.  That would be, well, the crazy numbers that get thrown about.  Really take a look at this thread; it has great info by people who work with Swift (esp. p.5):

 

 

Edited by WrathofKahneman
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My theory from the beginning is both Marcus Treacher and Marjan Delatinne were hired by Ripple to assist a merger/acquisition/partnership with Swift. Plans within plans.

Edited by Guest
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You guys know a whole lot more than I do about the technical side of this. But I remember this: Emi Yoshikawa said in June: “We believe Swift could be part of this broader open network. We want to invite them to be part of this. Some existing networks tend to be a little more close-minded and try to be on their own. But Ripple technology is meant for open systems, so they can be part of that system, that network.”

However, she then dismissed the changes SWIFT is desperately trying to make as doomed. Likewise, so has Marcus Treacher, Davis S., and Brad G. I also remember twice they mentioned that they wouldn't be interested in acquiring SWIFT. As in, "Why would we pay you half when we can come take what we want?" 

So, I am thoroughly confused but just thought I'd remind y'all about Emi's quote.

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Ok...

I.....heard... many months ago that SWIFT is working to integrate Ripple. At first I was excited, then grew increasingly skeptical as the animosity between the two openly grew in public. I could not find any meaningful connections and important people in the right places flatly rejected it. However, the SAP association is real. SAP builds core banking systems and up until recently SWIFT was the only game in town. With the rise of Ripple, SAP have also been building solutions to integrate FIs onto RippleNet.

So the questions I see are these:

- is SAP merely acting like a vendor to provide their FI customers with the solutions they want?

- is SAP acting as a mediator to build out a new system that integrates the two, SWIFT network and governance, based on Ripple technology?

At this time, I don't know.

Edited by OzAlphaWolf
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2 hours ago, OzAlphaWolf said:

Ok...

I.....heard... many months ago that SWIFT is working to integrate Ripple. At first I was excited, then grew increasingly skeptical as the animosity between the two openly grew in public. I could not find any meaningful connections and important people in the right places flatly rejected it. However, the SAP association is real. SAP builds core banking systems and up until recently SWIFT was the only game in town. With the rise of Ripple, SAP have also been building solutions to integrate FIs onto RippleNet.

So the questions I see are these:

- is SAP merely acting like a vendor to provide their FI customers with the solutions they want?

- is SAP acting as a mediator to build out a new system that integrates the two, SWIFT network and governance, based on Ripple technology?

At this time, I don't know.

A man can dream, right? I have no doubt that if each of these stakeholders find an arrangement like this is in their own best financial interest, they will make it happen. If I can run Microsoft software on a Mac, anything's possible. It will be really interesting to see how it all plays out.

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9 hours ago, Deeznutz said:

You guys know a whole lot more than I do about the technical side of this. But I remember this: Emi Yoshikawa said in June: “We believe Swift could be part of this broader open network. We want to invite them to be part of this. Some existing networks tend to be a little more close-minded and try to be on their own. But Ripple technology is meant for open systems, so they can be part of that system, that network.”

However, she then dismissed the changes SWIFT is desperately trying to make as doomed. Likewise, so has Marcus Treacher, Davis S., and Brad G. I also remember twice they mentioned that they wouldn't be interested in acquiring SWIFT. As in, "Why would we pay you half when we can come take what we want?" 

So, I am thoroughly confused but just thought I'd remind y'all about Emi's quote."

3

I remember that too, and Brad Garlinghouse taking shots at SWIFT on Twitter: "Swift GPI is like putting a Ferrari shell on a Model-T engine." Corey Johnson taking shots at SWIFT as well talking about how slow it is. Then SWIFT tweeted that the use of cryptocurrencies didn't improve efficiencies in cross border transfers. Would be weird if they had partnered and Ripple were taking shots at SWIFT saying how much they suck, that doesn't really make sense, if Ripple is not playing some sorts of advanced form of deception games to reduce speculation of a partnership with SWIFT, which I highly doubt. But who knows? 

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