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Ripple and R3 Reach Settlement

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2 minutes ago, Sarnos said:

Wasn`t r3 going bankrupt or something?

They were going bankrupt. I guess part of the settlement is that they receive x amount of xrp. Ripple in return gets access to R3s partners or something. There must be a win-win solution here. For R3 that is money and for ripple it is to have access to the r3 consortium.

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2 minutes ago, The-Zerpning said:

They were going bankrupt. I guess part of the settlement is that they receive x amount of xrp. Ripple in return gets access to R3s partners or something. There must be a win-win solution here. For R3 that is money and for ripple it is to have access to the r3 consortium.

The reason why ripple broke up the deal with R3 was due to them not keeping up their end of the deal and now making another deal with them seems madness unless something has changed

Edited by Sarnos

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4 minutes ago, Sarnos said:

The reason why ripple broke up the deal with R3 was due to them not keeping up their end of the deal and now making another deal with them seems madness unless something has changed

With R3 up against the ropes financially I think any deal would be very much in Ripples favour, throw them a few straws so they can keep their head above water for a couple of months more knowing they're going to drown anyway and saving themselves a heap of legal fees.

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I am glad to hear the case settled.  It seemed that Ripple's arguments that it should be permitted to be released from the terms of the parties' contract were fairly flimsy IMO.  

Also, any xrp that are to be transferred over to R3 are governed by the contract's clause relating to sales:  basically, R3 can only sell a very small number of xrp per day.  It's very similar to Jed's ability to sell.

Also, if there's a silver lining to it, it helps get Ripple's ownership of xrp closer to being under 50% of the total, which I have always felt was a big deal, and perhaps a sticking point for many who felt that Ripple simply owned too many of the xrp created.  Plus, it's confidential.  No one will really know the exact amount (except we will get a ballpark figure when we receive updates to number of xrp distributed, or when one of our tech people figures it out based on transfers on the ledger).

Overall, I consider it to be very good news. :drinks:

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17 minutes ago, The-Zerpning said:

Ripple in return gets access to R3s partners or something. There must be a win-win solution here. For R3 that is money and for ripple it is to have access to the r3 consortium.

CL mentioned a week ago +100 signed contracts... ?

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I wonder if Ripple has considered a buyout of R3? After all, rumors and subtleties have stated that R3 has been considering its options via IPO (less-likely) or buy-out (more-likely). Many have said that due to all of R3's many and varied stakeholders/partners Ripple would be less inclined to acquire them for the simple fact that they (Ripple) would have to thread the needle to accommodate all participants needs etc. However, as I have stated elsewhere, RippleNet is a consortium of various FIs located in different countries with different laws around cross-border transactions, KYC, AML, CFT, etc. It is because Ripple has had to navigate the minefields/pitfalls of having to be all things to a lot of stakeholders to build RippleNet, that I believe a Ripple buyout of Corda might not be too far-fetched.   A fair amount of R3's players are already clients of Ripple anyway. I personally think the additional manpower this purchase could bring would also help bolster Ripple's engineering coffers similarly to what Stellar did via their acquisition of CHAIN (addition of 30 employees). After all, David Schwartz did state (26:37 – 28:18) that Ripple did not have the engineering resources to fully execute Codius within Ripple. Stefan Thomas did forecast (4th prediction) that as this blockchain evolution unfolds, the emergence of hybrid blockchain networks that combine the best attributes of both public/private blockchain systems will win the day. I can totally see the integration of Codius as an application/abstraction layer to allow contracts and dApps to interface with other blockchains, legacy systems, internet service providers, and on the Corda platform. There are some who maintain that SBI will want to buy them out, however, I don’t think that will go over too well with the majority of the R3 consortium (i.e. banks/FIs), knowing that they would be beholden to a fellow competitor’s DLT/blockchain platform. Ripple could serve as the perfect buyer in a potential merger of R3 doing what they do best, building novel DLT/blockchain based solutions to help create new services, businesses, and facilitate healthy competition among members of the R3 consortium.

Edited by King34Maine

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