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International Institute of Finance and Ripple

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This thread was the result of the following article mentioning the International Institute of Finance[IIF][https://www.businessinsider.com/debt-contagion-in-argentina-and-turkey-is-spreading-to-other-countries-2018-6?utm_source=yahoo&utm_medium=referral]


Per their website[https://www.iif.com], "The Institute of International Finance is the global association of the financial industry, with close to 450 members from 70 countries. Its mission is to support the financial industry in the prudent management of risks; to develop sound industry practices; and to advocate for regulatory, financial and economic policies that are in the broad interests of its members and foster global financial stability and sustainable economic growth. IIF members include commercial and investment banks, asset managers, insurance companies, sovereign wealth funds, hedge funds, central banks and development banks. 

The IIF is the leading voice for the financial services industry on global regulatory issues. We engage constructively with global standard setters and policymakers through formal submissions and reports, as well as through regular dialogue and high-level symposia.

We focus on issues such as international capital and liquidity standards for banks and insurers, resolution and recovery policy issues, derivatives market rules, international conduct standards, shadow banking, supervision and risk management, and accounting standards, among many others.

Members participate in more than 30 working groups and committees with industry peers and interact with public sector representatives, facilitated by the IIF."

So how is Ripple involved? They were featured by the IIF in an interview with their Managing Director, Global Marketing & Communications, Corrie Shanahan featuring Patrick Griffin of Ripple. They discussed the "protocol, an open-source, distributed payment protocol which allows for free and instant payments in any currency. "  Given the suggestion of recent ideas about other companies using the interledger, I found the comment at around 2:40 interesting where he was talking about legacy systems and how they can migrate to the ledger.

Several of the IIF's members are also partners with Ripple. You can look through the list here...[https://www.iif.com/membership]

I chose to only cover the facts here, but if you are so inclined to go all tinfoil on the bit, this could go deeper than what was covered here. 

Edited by Guest

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Some authoritarian States perhaps have a negative view on the possibility to quickly change between fiat and crypto. Turkey is a very interesting example at the moment. Erdogan has directly asked the people to change from other currencies into Lira, which immediately caused a further sell of, especially yesterday. (Source, article in FT today)I wouldn’t be surprised if this could cause bans and all sorts of idiotic behaviour if the currency crisis spreads and deepens. Or attempt to ban. Temporary blocks on access to exchanges is however a possibility. 

Over time crypto however will find its proper value and role also in global finance imho.

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