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Japanese Bankers Association adopt SWIFT GPI

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Just now, Zerptime said:

That's not proof at all, videos from YouTubers is not proof, people need to stop doing that crap

did you even watch it, it looks at fact and figures all of which are available for anyone to read and research

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7 minutes ago, TRexrp said:

I agree with your statement, I think this will shed some light on the whole Swift GPI concerns. Many may not agree with the statements and views but I believe there is heavy substantiation to the points being made. 

 

I think he makes very, very astute points, and that his videos are starting to go from tinfoil hat to plausible very quickly noting he is backing it up with presentations the banks are making, and linking disparate documents and press releases. 

Take with a grain of salt of course, but part of me wonders whether the emergence and development of things like xSpring, Coil etc are because they feel the bank to bank and corporate to bank payment game was stitched up months ago via the above. 

Brad is famous for his Peanut Butter Manifesto where he denounces companies spreading themselves too thin. You can afford to move into other areas of innovation when you have supreme confidence in the direction and potential success of your core business. 

 

Edited by Ironhalo

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2 minutes ago, Ironhalo said:

I think he makes very, very astute points, and that his videos are starting to go from tinfoil hat to plausible very quickly. 

Why would banks trial this for 2 years if there wasn't a bigger goal at play? 

 

 

Unfortunately people will subject any evidence coming from videos as being unreliable. I agree that he used to wear the tinfoil hat too much but with this I only see what is available to anyone who spends the time to look at it. 

The trials ongoing for such a period of time genuinely shows the interest that multiple companies and financial institutions have in Ripple and XRP, I think that there is a lot that has happened behind that will come into play very soon. 

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Just now, TRexrp said:

Unfortunately people will subject any evidence coming from videos as being unreliable. I agree that he used to wear the tinfoil hat too much but with this I only see what is available to anyone who spends the time to look at it. 

The trials ongoing for such a period of time genuinely shows the interest that multiple companies and financial institutions have in Ripple and XRP, I think that there is a lot that has happened behind the scenes that will come into play very soon. 

 

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17 hours ago, Liminarori said:

This is not competition for Ripple/xRapid.

And I'm not saying that because it's some sarcastic shtick. It's literally not competition seeing as xRapid is "NOT targeting banks but rather remittance companies and smaller startups" as David Schwartz has been saying on twitter more than once this year, Ripple "switched focus" away from banks. This was a huge chink in the armor when I read it, but obviously the shills were out in full force with their "it's okay! XRP 50USD eoy!!".. sigh.

 

This isn't true really.  They are targeting FIs that have less regulation to build up liquidity so it can be used by the big players, or banks.

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I do not think that Swift uses ILP.

They are considering Ripple as rival.

Why would they use Hyperledger?

YouTuber is always wishful observation.
They hinted at AMAZON tie-up.
However, AMAZON tie-up never occurred.

They make the same mistake again.

Edited by jabit

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39 minutes ago, jabit said:

I do not think that Swift uses ILP.

They are considering Ripple as rival.

Why would they use Hyperledger?

YouTuber is always wishful observation.
They hinted at AMAZON tie-up.
However, AMAZON tie-up never occurred.

They make the same mistake again.

You’re clairvoyant and you can read minds. So...you work at SWIFT during the day but at night...you fight for slower, more expensive technology as...Jabit-boy. Superjabit. Ultrajabitman.  Z

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1 hour ago, jabit said:

I do not think that Swift uses ILP.

They are considering Ripple as rival.

Why would they use Hyperledger?

YouTuber is always wishful observation.
They hinted at AMAZON tie-up.
However, AMAZON tie-up never occurred.

They make the same mistake again.

They are in the same market, one has the tech the other has the clients.   SWIFT cannot do blockchain so they become clients of Ripple.  What is hard to understand?

You pretend to be a thinking sceptic but you fail the thinking test every time

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1 hour ago, jabit said:

I do not think that Swift uses ILP.

They are considering Ripple as rival.

Why would they use Hyperledger?

It would be a greater debate if you substantiated your points, Swift has run trials using the hyperledger, due to its many advantages over the traditional system.   

Its true, Ripple is a rival for swift and thats why the've come up with GPI, which in many ways looks a lot like XCurrent. It is working with the already existing rails/corridors they have established. But its not hard to remember that this infrastructure is outdated. Swift GPI seems like an effort to modernise international payments but why didn't this happen 5 years ago. They have taken far too long to enter the game, Ripple and XRP have always been two steps ahead in regards to adopting and incorporating new technology into the international remittance and payments markets. 

"Anytime you find someone more successful than you are, especially when you're both engaged in the same business - you know they're doing something that you aren't". (Malcolm X)

Speaks a lot about swifts decision to release GPI this year as soon as it seems that Xrapid will go live. Its simply a retaliation to what is happening in the same space. 

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1 hour ago, jabit said:

I do not think that Swift uses ILP.

They are considering Ripple as rival.

Why would they use Hyperledger?

YouTuber is always wishful observation.
They hinted at AMAZON tie-up.
However, AMAZON tie-up never occurred.

They make the same mistake again.

Do you know what MT103 is? Look at the picture closely. It's clear at this point that Ripple is working with Swift integrating Swift messages into ILP.

Also SAP is working with Swift (that means also with Ripple)

This is from a SAP official document (page 7):

https://d.dam.sap.com/a/AnJyyB/06_02_20170719_Innovation Camp_BlockchainBriefing_v0.1.pdf

SAP.thumb.png.bb47cc456fce1fe5338ab2b668d2690d.png

Edited by Guest

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8 minutes ago, icebreath said:

Do you know what MT103 is? Look at the picture closely. It's clear at this point that Ripple is working with Swift integrating Swift messages into ILP.

Also SAP is working with Swift (that means also with Ripple)

This is from a SAP official document (page 7):

https://d.dam.sap.com/a/AnJyyB/06_02_20170719_Innovation Camp_BlockchainBriefing_v0.1.pdf

SAP.thumb.png.bb47cc456fce1fe5338ab2b668d2690d.png

yes absolutely clear, this slide is used in the video and perhaps it all comes together in November.  Could it all come together in November?  Javit's FUD thread seems to be backfiring on him

 

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@jabit - As an investor, you are perfectly correct to conduct a quadrant or SWOT analysis but your posts are not doing that because you are not looking at probability/impact of risks or of the competitive landscape in which Ripple operates. Here's a guide if you haven't seen this done before: https://www.crayon.co/blog/competitive-matrix-examples

It would have been more courteous to the other members of this forum (and less antagonistic) if you had done some research regarding SWIFT on this site because there are hundreds of pages of information answering your questions and concerns. Above is one of the very first threads on XRPChat to discuss SWIFT. There are hundreds more. The search box is top right of the page.

I don't feel as if you are asking questions for legitimate reasons based on the content of your posts. I'd be happy for you to prove me wrong by you doing some basic homework first and presenting us with a balanced review of the competitive landscape that applies to both Ripple and SWIFT.

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13 minutes ago, Pablo said:

@jabit - As an investor, you are perfectly correct to conduct a quadrant or SWOT analysis but your posts are not doing that because you are not looking at probability/impact of risks or of the competitive landscape in which Ripple operates. Here's a guide if you haven't seen this done before: https://www.crayon.co/blog/competitive-matrix-examples

It would have been more courteous to the other members of this forum (and less antagonistic) if you had done some research regarding SWIFT on this site because there are hundreds of pages of information answering your questions and concerns. Above is one of the very first threads on XRPChat to discuss SWIFT. There are hundreds more. The search box is top right of the page.

I don't feel as if you are asking questions for legitimate reasons based on the content of your posts. I'd be happy for you to prove me wrong by you doing some basic homework first and presenting us with a balanced review of the competitive landscape that applies to both Ripple and SWIFT.

IMO he/she is not being sincere.  My previous interactions with this person have confirmed that they do not fully understand how SWIFT GPI works or fully understand Ripple's products and what issues they solve.   See this thread for reference:

 

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18 hours ago, jabit said:

I heard that SWIFT eliminated Ripple from Sibos last year. I do not think SWIFT is on our side.

They seem to be oppressing Ripple in the Pacific region. 

Pacific region is an area where Ripple puts emphasis.

https://techwireasia.com/2018/08/australia-to-trial-a-swift-er-cross-border-payments-service/

“The approach we have taken saves banks from having to invest in new cross-border infrastructure,” said Eddie Haddad, Managing Director at SWIFT, Asia Pacific.
 

 

I believe comparing Ripple with SWIFT, is to some extent comparing apples with oranges. Unlike SWIFT, Ripple is creating an internet of value. It is thinking about how money moves in a very different way. Here's some information you may find useful on this subject:

Standard Chartered uses both Ripple and SWIFT. BNP Paribas has been very vocal in its support of SWIFT gpi but is also exploring blockchain-based payment technology. Damien Godderis, senior product manager, international payments and correspondent network, BNP Paribas Cash Management, says the two companies are competitors in some cases, but not in others. There are some key differences, for example, SWIFT gpi is a network of banks whereas Ripple technology is sold as a product to individual banks.

Marcus Treacher, senior vice president of customer success at Ripple, tells The Global Treasurer: “SWIFT doesn’t really compete [with Ripple] in our view. SWIFT gpi has been around for a long time and it is making the SWIFT process a little less painful by adding more messaging and control into a 20th-century model.” He argues that Ripple is doing something different. “We are thinking about how money moves in a very different way. We are creating an internet of value. Treacher argues that Ripple is the only market player that has created a solution that connects everyone in the world.

“It will work like the internet does. You will be able to download money as data on your mobile phone. It is very fast and accurate, and we are creating a model where money will move inexpensively, safely and securely,” he says.

Source: 
https://www.theglobaltreasurer.com/2018/03/26/is-ripple-a-threat-to-swift-gpis-monopoly-on-cross-border-payments/

Edited by Danny

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