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Hodor

Crypto Adoption for the Masses: Finding the Path Forward

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Things are moving so fast. 

This is not covered by today's blog (I only read this today), but it is another light-bulb moment that dovetails well into the theme of making crypto more "Apple-esque" and what you have written:  

Marcus Treacher at Sibos :
 

Quote

 

Much has been said of Open Banking and the emergent API culture. How does Ripple fit into this new market model?

Ripple fits ever so well into that model. You and I are lucky to be working in an industry during exciting times. Banking has been incremental and even the technology that’s in play today is simply automating what the Medicis worked out in the 1500s. For the first time there’s serious disruption in the market. 

The future macro view is the same as other industries: collaborations of providers that work in very heterogeneous supply chains. For instance, you have a core brand like BMW, but, in the background, you have a whole portfolio of supply chain companies.  Banking is not like that, it is monolithic and many activities are clubbed together that conveniently fit under these single brand company names.

APIs and Open Banking are very powerful catalysts that are exploding those activities into many components. I think the banking world is fragmenting into specific players and the role of the winners will be about aggregation, holding the customer to your brand and connecting outward to the ecosystem. It suits us beautifully because one of the killer plays we have is the embracing of the interledger. 

That openness is perfect in a world where you’re connecting players together and creating a network of value. The end result provides much better services for startups, people and companies.

 

 

 

What is coming across is that it is not only SWIFT that cannot cope with the speed of change, it is the whole of the banking industry.  The bigger the bank the more monolithic and vulnerable they are to what is happening under their feet. Like SWIFT, they must change/accommodate or wither.  Well done Santander for grasping the nettles.

It is the Western Union/Blockbuster problem : To accommodate the new Apple-essque features they have to dismantle and rebuild their companies from the bottom upwards.  The problem is how would Blockbuster have accommodated streaming videos, were they doomed whatever they did?  

Edited by Julian_Williams

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53 minutes ago, Julian_Williams said:

The problem is how would Blockbuster have accommodated streaming videos, were they doomed whatever they did?

There can be multiple companies that make money from streaming & they're not mutually-exclusive.  But NetFlix is clearly the winner. :JC_thinking:

I also liked that quote from Marcus Treacher:

 

Edited by Hodor

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Another great read Hodor. I'm guessing that you now have several research elves to assist you in your cabin retreat in the wilds of yonder. You may have to expand the cabin and the team in six months time as we seem to be building up steam and momentum on announcements, or more likely, in the spirit of innovation, you will have completed the build of your quantum computer, included AI and you will just sit back to read the results for yourself with your favourite hot drink.

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4 minutes ago, mistatee2000 said:

or more likely, in the spirit of innovation, you will have completed the build of your quantum computer, included AI and you will just sit back to read the results for yourself with your favourite hot drink.

Unfortunately, there's a shortage of elves here at Hodor headquarters.  It's just me; however I'll look into having AI generate the blog at some point. 

Robo-Hodor?  :JC_thinking:

robot.thumb.jpg.c34837fcff10a10ffd4aa772c5c40b40.jpg

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12 minutes ago, Hodor said:

There can be multiple companies that make money from streaming & they're not mutually-exclusive.  But NetFlix is clearly the winner. :JC_thinking:

I also liked that quote from Marcus Treacher:

 

Do you think a far sighted and on-the-ball CEO of Blockbuster could have transformed Blockbuster into NetFlix?

Edited by Julian_Williams

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5 minutes ago, Julian_Williams said:

Do you think a far sighted and on-the-ball CEO of Blockbuster could have transformed Blockbuster into NetFlix? 

Wow.  Yes. 

But they'd have faced a lot of internal inertia, which is what is happening with the banks.  They're being leapfrogged very quickly - too quickly perhaps.  If they're too slow in 'going to Ripple' and SWIFT continues pretending that "DLT is still years away" then they will be left behind. 

On the other hand, if banks wise up on their own without SWIFT, it will be a cascade of worldwide banking going to RippleNet.  And eventually, settlement with XRP will follow, IMO. 

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