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Swift can block entire transactions for a country, and those countries are in need desperate of an alternative solution.

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I was listening to a few YouTube videos and Podcasts about the world dumping U.S debt and hoarding gold and found an interesting article. 

How would this play out? If Swift can block transactions for entire countries, can those countries turn around and start using Ripple's tech as their new method and improvement to real-time gross settlement system, currency exchange and remittance network? 


https://www.albawaba.com/news/europe-and-us-diverge-iran-swift-financial-network-stuck-middle-1184096

Swift Alternative.PNG

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I saw this posted, I agree with this guy:

Quote

"Especially when Ripple has been trying to work with legislators and regulators. I don’t think it would be good for the company to try and work with Iran. While OP’s idea seemed reasonable, I don’t think Ripple wants to touch this **** show with a 10 foot pole"

 

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Yes they can. In fact England and other European countries are actively trying to do business with Iran right now, and no doubt moving forward the whole world will bypass the old world swift system.  It's kind of crusty and old. Many countries globally find the Ripple system and digital assets in general quite useful in moving money, and there's nothing wrong wrong with that.  The US is hopping on this train as well (finally).

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If the US orders Swift to leave Iran out of their chain. Then what is the risk of Ripple to jump into it and might never get any further US support?

In other words, maybe Ripple will not start up anything there rapidly in these times... unless if it is already configured and ready to run. But still I doubt whether it is a good move on such occassion. 

 

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4 minutes ago, XRPfan_Eelco said:

If the US orders Swift to leave Iran out of their chain. Then what is the risk of Ripple to jump into it and might never get any further US support?

In other words, maybe Ripple will not start up anything there rapidly in these times... unless if it is already configured and ready to run. But still I doubt whether it is a good move on such occassion. 

 

It may not right now - you could be right.  But eventually all this value transfer will be just like email. 

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I'm sure that sanctions by USA on Swift might make them stop trading with certain countries, but my thoughts are - would those countries want to utilise another American based money transfer system, even if it is independent. My  guess is no.

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 As long as ripple doesn't directly sell its products to Iran then Ripple should be in the clear. Once the software is in the hands of banks and Fi's does ripple even have the capability to stop the transfer of money.

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39 minutes ago, mistatee2000 said:

I'm sure that sanctions by USA on Swift might make them stop trading with certain countries, but my thoughts are - would those countries want to utilise another American based money transfer system, even if it is independent. My  guess is no.

This is why Ripple needs to establish themselves in neutral territory. I think that a base on the Moon would fit.

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You can't be neutral. Ripple is about compliance and those complying and running validators will have their restrictions, including voting imposed by their respective governments I would assume. It's just seems like the common-sense thing to do. Governments won't give the okay unless they have a certain level of control.

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1 hour ago, enrique11 said:

You can't be neutral. Ripple is about compliance and those complying and running validators will have their restrictions, including voting imposed by their respective governments I would assume. It's just seems like the common-sense thing to do. Governments won't give the okay unless they have a certain level of control.

Interesting. Maybe, just maybe in the new order of things there will be global compliance, otherwise we are constrained by our lagacy systems and will not move on.

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