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October 30, 2018 Dilip Rao at Global Islamic Economic Summit

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2 hours ago, XRPzie said:

Thanks. I also found the q&a with the speakers that starts around 02h36m40sec informative. What Dilip says about the (whole)sales and rumor in the market, lack of swift fans in the middle east, but also the input of other speakers. I know the price is not what most 'fans' would like to see at the moment. Myself I have been a skeptic for a long time but more and more I feel that there is a bright future out there. I'm no mooner. Bright is for me already any level between the current level and the ath somewhere the next 5 years. I feel more and more comfortable holding on.

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Excellent introduction to why the Middle East is a crucial stepping stone for Ripple/XRP:

https://xrpcommunity.blog/ripples-in-the-dunes/ by Oz Alpha Wolf



Colloquially, we think of them as the Gulf states, a comparatively small region of economic power-houses heavily dependent on oil exports. KSA alone controls nearly 1/4 of the world's oil reserves and is the world's largest exporter. Oil and gas contribute around 50% of its GDP (2). It's sitting on proven reserves of an immense 266 billion barrels of oil equivalent (BBOE). The UAE has a tidy 97 BBOE proven reserves and the oil and gas sector accounts for around 40% of its GDP (3).

As of 2016 the GCC states collectively control 29% of known oil reserves in the world (4).

This is a problem for them.

Over the last few decades, the GCC states have deployed their oil income in ways to improve the overall standard of living in their countries with spending on public education, health and infrastructure. But they have struggled to diversify their economies (5). This leaves their revenue generation exposed to supply/demand volatility. Both sides of that equation face major risks. On the supply side, the USA has slowly been ramping up output production with shale oil sources contributing to output growth. Russia and Iran for instance have also been steadily growing their shares of export production. On the demand side, there are significant global headwinds with carbon emissions being seen as extremely problematic for world climate patterns resulting in the exponential growth of renewable energy sources and projects.

Economically speaking, the GCC states are facing a potential perfect storm. Growing production competition from other countries who do not have the same GDP input risk and increasing pressure on demand from non-fossil fuel energy pathways. Navigating these waters necessitate creative thinking in diversifying their economies.

The first obvious pivot away from energy revenue dependence is using oil and gas to manufacture new products - plastics, chemicals, screen coatings, etc. To this end Saudi Aramco (KSA's state owned oil company, currently the highest valued co. in the world), has bet US $20 billion on a new complex to develop this business, and as part of the Saudi "Vision 2030" blueprint for the post-oil future (6,7).

What is Vision 2030?

Broadly speaking, it is a wide and ambitious pl



Edited by Julian_Williams

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11 minutes ago, XRPforLong said:

"... has already closed almost 200 production agreements."

This is already known or new?

They have already mentioned ,,hundreds of FIs,, a couple of times recently but this is the first time they said 200. But if you like numbers - this one is also interesting:

Cory Johnson:        18:46    Well I think that what’s really interesting about this is … It’s early days, so we’ve got over 100 customers who are signing deals will move a billion dollars across the [inaudible 00:18:59] I can see email and get one today. Whenever we’re getting a customer and this email goes up from head of sale, and it’s pretty cool, but they’re coming fast and furious. [inaudible 00:19:10] the six months that I’ve been here, I’ve seen these customer announcements picking up speed. A year ago Ripple was signing a new customer every six weeks. Now we’re signing one every six days. It’s a really dramatic difference in terms of what’s happening, but I think it’s still so early because we’re still selling it.

It is from Cory´s podcast.


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