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What do we make of Ripple exhibiting at SWIFT

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2 minutes ago, RikkiTikki said:

That is pretty much what I a saying but who knows.  I just wanted to clarify if the Sibos event was truly a SWIFT organized event, if so it gives more credence to a partnership between the two as I said whether their making software, or Hello Kitty wristbands you don't invite your competition to an event you sponsor and give them a booth but you definitely do this for partners and potential partners.  This is nothing technical that's just business sense there.

 

The official Sibos page says that it is organized by SWIFT

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2 minutes ago, RikkiTikki said:

That is pretty much what I a saying but who knows.  I just wanted to clarify if the Sibos event was truly a SWIFT organized event, if so it gives more credence to a partnership between the two as I said whether their making software, or Hello Kitty wristbands you don't invite your competition to an event you sponsor and give them a booth but you definitely do this for partners and potential partners.  This is nothing technical that's just business sense there.

 

on the other hand if you are very big you need to look tolerant and unafraid of the competition.  Ripple have been going for years, it would have been a statement of fear to try to stop them now.

But I cannot see them fight a war of attrition.  Ripple do not want to be SWIFT, they want to serve the market SWIFT are part of. SWIFT do not want to be a software company, they want the tech that Ripple provide.  This is a no brainer

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Organizations like SWIFT should try to turn a threat into an opportunity. We're too slow and there's new tech available? Let's partner to get it and say "Hey, good news, small banks. Out of the kindness of our hearts, we're drastically lowering our fees on our old service and offering two new ones that are only slightly more expensive. We are going to save you money either way!" Then they could offer xCurrent and xRapid as new service options at a price much more expensive that what Ripple would charge but still way less than what banks were paying. Ripple's now being paid tons of money in licensing fees and to run operations so they don't care. Small banks are happy because regardless of which option they choose, they save money. Whether it's the slower, older way which is now dirt cheap. Or the two new options which are only a tiny bit more expensive but are much faster and have additional benefits (vostro/nostro, etc.). SWIFT is happy because they're not extinct and they look like they are good guys for lowering fees. Everybody's happy.

If SWIFT doesn't do something like this, I have a hard time seeing how they survive. Of course Ripple may have exactly 0% interest in a partnership.

 

I'm probably not explaining it the way I see it clearly. 3 hours sleep. 

Edited by Deeznutz

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I have mixed feeling regarding to this Ripple + SWIFT partnership speculation. On one hand it would be mutually beneficial for both of them to form partnership. On another hand the partnership would very likely be too good to be true at this point. On the third hand why the heck SWIFT did nothing all those years and just recentrly brough up the GPI that is way faster than the regular thing. Very fishy. I guess we can expect that Ripple and SWIFT will establish contact points between each other that SWIFT network and RippleNet can interoperate on ILP?

More water to the mill.

 

Edited by hallwaymonitor

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2 hours ago, hallwaymonitor said:

I have mixed feeling regarding to this Ripple + SWIFT partnership speculation. On one hand it would be mutually beneficial for both of them to form partnership. On another hand the partnership would very likely be too good to be true at this point. On the third hand why the heck SWIFT did nothing all those years and just recentrly brough up the GPI that is way faster than the regular thing. Very fishy. I guess we can expect that Ripple and SWIFT will establish contact points between each other that SWIFT network and RippleNet can interoperate on ILP?

More water to the mill.

 

Thanks for this video link - personally I have thought for a long time that a link up between XRP/Ripple and SWIFT will happen.  The evidence seems to show it is imminent

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2 hours ago, hallwaymonitor said:

More water to the mill.

Be careful though. The token she's refering to, which might be xrp according to her theory, is probably just a security access token common in API's...

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6 hours ago, FreddyRipple said:

Be careful though. The token she's refering to, which might be xrp according to her theory, is probably just a security access token common in API's...

I'm afraid you are right. However, it bugs me greatly that SWIFT is using VERY similar lingo and words within their materials as Ripple is using. This cannot be coincidence. However, I'll give like 99 % chance that SWIFT is just aping Ripple for the next 12 months time span at least. At best they are currently just planning together to enhance the IoV between RippleNet and SWIFTNet in future.

In below link are the following words and lingo that are often found from Ripple brochures as well:

rulebook

end-to-end payment tracking

rich payments data

remittance

double payment (almost like "double spend")

validation of payments before execution

gpi Connector (almost like ILP connector)

API

tracker

JSON

https://businessdocbox.com/Business_Software/67042722-Swift-gpi-making-your-cross-border-payments-faster-more-transparent-and-traceable.html

 

From the below link: "Activation generates a public and private key pair. You must activate your token on the SWIFT Certificate Centre before you can use it for SWIFT services."

I think this is blockchain lingo on purpose due to the words "public and private key pair" that is relevant almost with every cryptocurrency out there. Even if SWIFT abandoned their own cryptocurrency efforts some time ago I still wouldn't be surprised that they still will use more blockchain lingo in future within their materials. SWIFT tries to be sooo techie.

https://www2.swift.com/knowledgecentre/publications/scc_ptl_ug/?topic=con_126750.htm

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