yxxyun Posted September 13, 2018 Share Posted September 13, 2018 (edited) 1, Ripple wants China 's bank trial their solution, start from small banks, but their solution is too expensive for small banks. 2, Ripple 's solution xCurrent use market maker to transfer overseas payments, but market maker mode is not allowed by China 's policy. This point the details I'm not quite understand. 3, China bans all the Cryptocurrencies and exchanges, so Ripple 's solution xRapid which use XRP is also not allowed. Quote Source from one big bank ' s branch in China, this big bank is Ripple 's partner. Quote For point 2, I searched on internet, but didn't find the policy about disallowed the market maker rules. I only found that China enabled market maker rules in 2005, revised in 2013, I will continue search the recent policy. Quote http://m.safe.gov.cn/safe/2017/0405/1914.html there is a market maker list for CNY rate, I'm not quite understand the difference of each market maker types and why this impede Ripple enter China 's market. Edited September 14, 2018 by yxxyun BagholdersUnited and Kakoyla 1 1 Link to comment Share on other sites More sharing options...
deBereboot Posted September 13, 2018 Share Posted September 13, 2018 Please elaborate on "I've heard..." thanks in advance. ChuckN 1 Link to comment Share on other sites More sharing options...
Dario_o Posted September 13, 2018 Share Posted September 13, 2018 he heard It through the grapevine Link to comment Share on other sites More sharing options...
yxxyun Posted September 13, 2018 Author Share Posted September 13, 2018 Source from one big bank ' s branch in China, this big bank is Ripple 's partner. CryptoGerrie 1 Link to comment Share on other sites More sharing options...
mikkelhviid Posted September 13, 2018 Share Posted September 13, 2018 I've heard chinese banks loves XRP so much that they in reality have used it since it's creation! Some chinese exec. have even tried to marriage XRP! Link to comment Share on other sites More sharing options...
Guest Posted September 13, 2018 Share Posted September 13, 2018 XRP is a bridge asset, not a crypto currency. Link to comment Share on other sites More sharing options...
Guest Posted September 13, 2018 Share Posted September 13, 2018 5 minutes ago, 7Bs said: XRP is a bridge asset, not a crypto currency. these are not mutually exclusive, on the contrary. Link to comment Share on other sites More sharing options...
Guest Posted September 13, 2018 Share Posted September 13, 2018 5 minutes ago, lucky said: these are not mutually exclusive, on the contrary. Well it may be, when one is banned and one isn't. Link to comment Share on other sites More sharing options...
Liagala Posted September 13, 2018 Share Posted September 13, 2018 (edited) 40 minutes ago, yxxyun said: 1, Ripple wants China 's bank trial their solution, start from small banks, but their solution is too expensive for small banks. Their new solution, xVia, is a simple plug-and-play application that can be used by anyone. It will not be too expensive. 40 minutes ago, yxxyun said: 2, Ripple 's solution xCurrent use market maker to transfer overseas payments, but market maker mode is not allowed by China 's policy. This point the details I'm not quite understand. You have the wrong information here. xCurrent does not use a market maker. xCurrent is simply a messaging service, just like the SWIFT system (but much faster, cheaper, and more direct). 40 minutes ago, yxxyun said: 3, China bans all the Cryptocurrencies and exchanges, so Ripple 's solution xRapid which use XRP is also not allowed. For now this is true. China may reverse the ban in the future. Until then, Chinese banks can use xCurrent and xVia solutions. India has a similar problem, but their government is looking into reversing the ban and implementing proper laws to keep people and businesses safe while using cryptocurrencies. Edited September 13, 2018 by Liagala Kalarie, XRPHornets and QuantumOfSolace 3 Link to comment Share on other sites More sharing options...
yxxyun Posted September 13, 2018 Author Share Posted September 13, 2018 45 minutes ago, yxxyun said: 2, Ripple 's solution xCurrent use market maker to transfer overseas payments, but market maker mode is not allowed by China 's policy. This point the details I'm not quite understand. For point 2, I searched on internet, but didn't find the policy about disallowed the market maker rules. I only found that China enabled market maker rules in 2005, revised in 2013, I will continue search the recent policy. Link to comment Share on other sites More sharing options...
yxxyun Posted September 13, 2018 Author Share Posted September 13, 2018 (edited) http://m.safe.gov.cn/safe/2017/0405/1914.html there is a market maker list for CNY rate, I'm not quite understand the difference of each market maker types and why this impede Ripple enter China 's market. Edited September 13, 2018 by yxxyun Link to comment Share on other sites More sharing options...
mandelbaum Posted September 13, 2018 Share Posted September 13, 2018 (edited) Hong Kong are allowed to make their own monetary policies for another 30 years. You can call it a Trojan Horse. It is up to the next generation of Chinese politicians if they want to pull back like the Soviets did with NEP in 1928. I think they are educated enough to realize that to be a massive mistake. Edited September 13, 2018 by mandelbaum Link to comment Share on other sites More sharing options...
XRPHornets Posted September 13, 2018 Share Posted September 13, 2018 Something Ive also heard from someone I know who works closely with Donald Trump is that he plans to nuke China. If so there wont be any banks left in China for Ripple to partner. xrpmommy, Wildwestit28, WhenLambo and 2 others 5 Link to comment Share on other sites More sharing options...
Yorkies Posted September 13, 2018 Share Posted September 13, 2018 Chinese Whispers WillGetThere 1 Link to comment Share on other sites More sharing options...
benstr Posted September 13, 2018 Share Posted September 13, 2018 (edited) 2 hours ago, yxxyun said: Ripple 's solution xCurrent use market maker to transfer overseas payments, but market maker mode is not allowed by China 's policy. xCurrent does not use xRapid. No need for market makers. Thus in theory Chinese banks can test for savings and speed benefits. xCurrent can be used for domestic transfer, if banks find it provides better tracking. I believe with China, it will be work in progress for Ripple. End of the day, money talks. When China looks around and see other international banks save money with faster service. They will come around. If not they will fall behind. Edited September 13, 2018 by benstr Artificer 1 Link to comment Share on other sites More sharing options...
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