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XRP didn't save WU time or money?!


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8 minutes ago, dontsellmeadog said:

"Western Union recently announced that its pilot of xRapid did not save the company time or money. Ripple says the results show smaller financial institutions and startups are more likely to initially see significant savings with the technology."

Hopefully this is not a result others see as well. 

Are you talking about the June announcement? Or is there a new one I missed?

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16 minutes ago, 30k1m said:

 

Are you talking about the June announcement? Or is there a new one I missed?

Looks like this is referring to the one 72710275 years ago, nothing recent

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9 minutes ago, dontsellmeadog said:

Might be old news.. but did anything change that now makes it irrelevant? Its only old to those who have already seen it.  

Asheesh Birla: 

‘’It’s not surprising that Western Union has not seen tremendous improvement since it has only actually made 10 transactions using XRP.

If they were to move volume at scale, then maybe you would see something, but with 10, it’s not surprising that they’re not seeing cost savings,” Birla said. “They do millions of transactions a month, and I’m not surprised that with 10 transactions it didn’t have earth-shattering results.”

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33 minutes ago, AllinXRP said:

Old news. As a community we have decided to ignore it. 

The reality is that WU likely sees Ripple as a possible competitor and I am sure they didn’t do them any favours. 

Yeah. This puts all of WU competitors on an even playing field. WU seems to be now in a scramble to figure out if they can find another advantage before giving in. 

WU will be irrelevant if they dont use xrapid. There are plenty of other appealing psp's in the sea

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1 hour ago, dontsellmeadog said:

"Western Union recently announced that its pilot of xRapid did not save the company time or money. Ripple says the results show smaller financial institutions and startups are more likely to initially see significant savings with the technology."

Hopefully this is not a result others see as well. 

Old news.  Trial with few small amounts etc. etc. etc.

In few years they will be begging Ripple to let them in.

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9 minutes ago, BabyNeedsShoes said:

Old news.  Trial with few small amounts etc. etc. etc.

In few years they will be begging Ripple to let them in.

Yes, I know, old news, small amounts...etc   But if XRP is supposed to save on costs because of its speed and low fee... why would small amounts be any different from large ones?  

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1 hour ago, dontsellmeadog said:

"Western Union recently announced that its pilot of xRapid did not save the company time or money. Ripple says the results show smaller financial institutions and startups are more likely to initially see significant savings with the technology."

Hopefully this is not a result others see as well. 

We have been doing some experiment with #Ripple but we are YET to see efficiency for our transactions as we are very efficient in doing what we do. [ he uses the word "yet" - ]

Hikmet Ersek, CEO of Western Union.

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11 minutes ago, dontsellmeadog said:

More so, my question is... if Ripple+XRP is supposed to save in upwards of 60% on fees/costs ... why does the amount of transactions matter?  Shouldn't it save whether it's 10 transactions or 10,000 or 1,000,000?  

the small number of transactions means that WU needs to maintain all the existing infrastructure in order to manage the rest of the transactions...if you read all that Birla quote he goes on to make the point that WU can't expect to realize savings if they maintain the entire infrastructure xRapid is meant to replace...

fwiw, the WU dude goes on to brag that the with the existing infrastructure that they created their own "blockchain" years ago...lol

Edited by xrpmeplease
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