Legit? Ripple Teams Up with Bank of Canada to Trial Large-Scale Fund Transfers Globally

[Xrabitz]

Just for the record.

Seems this article is coming after the news involved with R3.

Not one traceble link to be found directy to ripplenet so doesn't seem legit. Just don't want any fake information floating arround, because hype does the same damage as fud....

What do you guys think?

https://u.today/ripple-teams-up-with-bank-of-canada-to-trial-large-scale-fund-transfers-globally

[Guest]

https://www.bankofcanada.ca/research/digital-currencies-and-fintech/fintech-experiments-and-projects/

[Chris_Reeves]

9 minutes ago, LordVetinari said:

https://www.bankofcanada.ca/research/digital-currencies-and-fintech/fintech-experiments-and-projects/

From the looks of the phase 3 report with R3, they've establised some semblance of the xCurrent platform for settlement of transactions inside the consortium but interestingly enough they are having issues with liquidity.... 

 

"3.3.3 Liquidity vs. settlement efficiency

The test case conducted for the POC assumed that all participants had exactly the net amount of equity DDR and cash DDR required to settle all their net positions for the day from the input batch file. In practice, participants do not necessarily have all equities available to deliver for the morning batch settlement process, as they may receive or source equities for same-day delivery from other activities, such as securities lending later in the day. This affects the resulting settlement order, as some transactions are queued due to insufficient funds or equities. The amount of liquidity required intraday to facilitate timely settlement of positions can be materially greater than the net amount due at end of day, especially where the avoidance of longer queue times is a priority. Further analysis of the effects of cash- and equity-restricted accounts could be explored to learn more about how the effectiveness of the POC settlement algorithm would be affected by these restrictions, and whether larger amounts of prefunded liquidity may be desirable to improve the efficiency of batch settlements in these cases.

3.3.4 Liquidity impact requires scope extension

The POC approach collapses the current liquidity requirements for equities settlement and the cash requirement for end-of-day cash settlement in the LVTS into one requirement, which will have an impact on participant liquidity accounts. Because the CDS liquidity accounts do not play a role in the POC settlement process, the POC approach removes the liquidity requirements for equity settlement from those accounts. However, the same liquidity accounts are also used to settle obligations in CDSX that result from other activities, including some with complex interdependent relationships, as depicted below. For example, this liquidity in CDSX is also used for fixed-income settlements and purchases of the underlying asset from derivatives transactions, and securities lending may make securities available for settlement (with an impact on liquidity for those buying these now-available securities). Liquidity that becomes available in one process, whether from an equity or fixed-income sale, or the delivery of equities under a derivative contract, may be reused in another. The net impact of the alternate cash-settlement model employed in the POC for exchange-traded equities settlement on the total liquidity needs of participants within CDSX owing to their combined settlement activity was beyond the scope of the POC. Therefore, it is not yet possible to draw clear conclusions about the impact on the liquidity requirements of the overall system."

 

This is where a Ripple/R3 partnership to utilize xRapid (XRP) to source liquidity in order to provide an effecient flow of transactions will be critical to the success of R3 in implementation. Expansion of this experiment will only increase liquidity requirements and will necessitate the use of some digital asset to settle quickly in order to not revert back to the previous issues with the SWIFT system.

Edited November 2, 2018 by Chris_Reeves

[Let_her_Ripple]

And then there's this that also came out today:

 

 

[titi2018]

this is getting ridiculous

zoom the picture you'll see left head is photoshopped and look at eyes watching in a different direction

[pumpndump]

Ha ha anything to try to create hype it seems. Good catch

Edited November 2, 2018 by pumpndump

[Flintstone]

52 minutes ago, titi2018 said:

this is getting ridiculous

zoom the picture you'll see left head is photoshopped and look at eyes watching in a different direction

Just did as you said. Can’t really tell as the overall quality of the potato-cam in low light is terrible.

Either way, it’s a speculative photo and know one is going to be right or wrong without an explanation from Cory.

[Amigo]

The pic is legit but he accidently choose the wrong one while teeting, as this is the one he ment (I guess)

 

[GrayFox]

This is the only mention of Ripple from Payments Canada which is part of their RTGS system but other then that, there is no mention of piloting Ripple. Also that "article" posted has hyperlinks that simply take you to another random page on their site instead of their sources. There is no fact checking going on at all and I wouldn't take it 100%. At least the Bank of England published their trials and later on published the results. 

https://www.payments.ca/sites/default/files/29-Sep-17/jasper_report_eng.pdf