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Will Ripple Replace Swift? An Expert’s Take


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On 9/20/2018 at 4:27 PM, Swiss said:

Interesting having SWIFT's CEO say that Swift GPI is all about API's :

 

 

Nice find @Swiss ! It’s more proof that SWIFT is going for network and application interconnectivity.

See my posts on the role EBA Clearing has in connecting the Pan-European RT1 fast payment network (with Ripplenet connection) with TIPS and the SWIFT network in november 2018. Also SWIFT will upgrade their message format in that month.... (to accomodate Ripplenet message format?).

Does anyone on XRPchat know what this new SWIFT message standard will be and if it’s compatible/accomodating to the RIpplenet message format?

SWIFT is not the enemy. It is the Society for Worldwide Interbank Financial Telecommunication. It is an international cooperative organization for sending financial messages. The banks where Ripple is working with are mostly all part of or are also using SWIFT.

In 2016 it was already established by Ripple that it would be best to use existing network infrastructure. It would be much faster, efficiënt and would give better roll out control to connect to the existing global payment infrastructure (SWIFT).

There is documentation (with links) of this in my earlier posts.

Edited by cryptoxrp
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31 minutes ago, cryptoxrp said:

Nice find @Swiss ! It’s more proof that SWIFT is going for network and application interconnectivity.

See my posts on the role EBA Clearing has in connecting the Pan-European RT1 fast payment network (with Ripplenet connection) with TIPS and the SWIFT network in november 2018. Also SWIFT will upgrade their message format in that month.... (to accomodate Ripplenet message format?).

Does anyone on XRPchat know what this new SWIFT message standard will be and if it’s compatible/accomodating to the RIpplenet message format?

Thanks, I assume you have watched SamIAm's ("To The Lifeboats") videos on the SWIFT topic? If not, I highly recommend you to watch these videos:

"Ripple and XRP Things to Look for in Q4": https://youtu.be/_OOICM4Cqj4

"Proof Swift will use Ripple's xRapid to Process Payments Using XRP": https://youtu.be/iKvmt6y3hZ0

as well as Bluzelle demo (back from 2016!) where they showcase their xRapid integration in the Temenos T24 core banking software:

 

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14 minutes ago, zenkert said:

GPI API come on. It is spelled XRP  - sorry for ranting.

The dice are rolling and the global payment network (hardware, gateways etc...) Is near completion. Pick your payment rail (mine with XRP carriage) and enjoy the ride ?.

And I really don’t care if Ripplenet is connected to SWIFT. I would call that common sense and very smart.

Edited by cryptoxrp
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On 9/23/2018 at 3:20 AM, mandelbaum said:

Wall street discussing Crypto, Bitcoin= dudd, XRP= maybe there is something there. 13 minutes. The model Ripple has going with Escrow fits like a glove with the models these guys are discussing for making a global digital asset.

Thanks, Digital Asset Investor just covered this round table few minutes ago:

 

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I guess this POC final report says it all: https://www.swift.com/news-events/press-releases/swift-completes-landmark-dlt-poc

Quote

“It is a strategic priority for SWIFT to work with new technologies like DLT and incorporate them into key solutions like gpi”, said Stephen Gilderdale, Chief Platform Officer, SWIFT. “We are already working on new PoCs and will continue our R&D efforts to ensure that SWIFT customers will be able to leverage their existing SWIFT infrastructure and connectivity to benefit from blockchain services, whether offered by SWIFT or by third parties, on a secure and trusted platform.”

 

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@Swiss @Hodor My article (April 2008) has been taken down concerning JP Morgans use of the Temenos Core Banking Solution... You know why? Censorship?

This banking solution uses the agnostic DLT technology by Ripple. If JP Morgan has done it's updates then they will be using Ripple's ILP and probably XRP for settlement.

source: https://investor.shareholder.com/jpmorganchase/releasedetail.cfm?releaseid=305720

 

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44 minutes ago, cryptoxrp said:

@Swiss @Hodor My article (April 2008) has been taken down concerning JP Morgans use of the Temenos Core Banking Solution... You know why? Censorship?

Thanks, I read this article already few hours ago (seen it on twitter or in general forum). Where was your original April 2008 article taken down? Here on xrpchat?

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11 minutes ago, Swiss said:

Thanks, I read this article already few hours ago (seen it on twitter or in general forum). Where was your original April 2008 article taken down? Here on xrpchat?

@Swiss I do not know. But I have been digging further and JP Morgan has been updating and migrating the Temenos Core Banking software until the end of 2017....

Source: https://www.temenos.com/en/blog/2017/november/successful-migration-is-all-about-choosing-the-right-route/

You may post in my place and see what happens... this is strange...

Edited by cryptoxrp
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