SECOM and SBI Ripple Asia to run Ripple validators

[GiantGox]

SECOM, the biggest security company in Japan, and SBI Ripple Asia started running a Ripple validator together.

http://www.sbigroup.co.jp/news/pr/pdf/2017/0201_a.pdf

[Guest]

The text below is a translation of the SBI document, and not the original IP protected material.

 

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Quote

 

February 1, 2017

Secom Corporation

At Tokyo Corporation

SBI Ripple Asia Co., Ltd.

Japan's first digital asset (virtual currency) at Tokyo's data center

Started operation of Validator node of "XRP"

Contributing to a highly reliable currency system

Tokyo, Japan (Headquarters: Koto Ward, Tokyo, President:

Akira Nakamura, hereinafter At Tokyo) and SBI Ripple Asia Co., Ltd. (Head Office: Minato-ku, Tokyo, Representative Director: Takashi Okita

History, hereinafter referred to as SBI Ripple Asia) jointly announced that it is the first time in Japan since February 1, 2017, XRP (* 1)

We have started the operation of "Validator node" on Ripple Consensuses Ledger (* 2) which is one of them.

In the operation of XRP which is a digital asset, it is distributed management by block chains

It is necessary to confirm and approve the credibility and security of the transaction register with the "Validator node", and this XRP

The entrepreneur who participates in the Validator (* 3) maintains highly reliable facilities and is fair and neutral

You will be asked.

At Tokyo, it was recognized its credibility and became a Validator operator.

XRP is a representative digital asset issued by FinTech's world leader company Ripple USA.

It is one of them, has a role as a bridge currency (* 4) , and is utilized for demonstration experiments on international remittances

It is.

Furthermore, it is also used for interbank settlement system due to its feature that its settlement speed is less than 5 seconds,

It also conforms to "BitLicense (* 5) " which is the licensing system for the virtual currency of New York City, USA

I will.

As soon as the XRP Validator was established and started operation at Tokyo, at Tokyo,

It is possible for businesses such as banks to do business to do business more smoothly with peace of mind,

It has become a part of a reliable currency system.

Note that this node is managed at AT Tokyo, cyber security, like Tokyo at the same time Secom Glue

SECOM TRUST SYSTEMS CO., LTD. (Headquarters: Shibuya-ku, Tokyo; president: Keiji Hayashi), who is responsible for information and communications business

I apply.

 

Page 2

At Tokyo and SBI Ripple Asia, utilizing block chain technology, including this initiative

We provide a safe environment to protect customers' information assets in new social service infrastructures such as FinTech

We will provide innovative services.

* 1 XRP: Digital asset issued by Ripple USA. As the virtual currency, it has the second issue / distribution scale after bitcoin, Ethereum.

* 2 Ripple Consensuses Ledger: Distributed Ledger (ledger) as the foundation of XRP. It is built with original block chain technology.

* 3 Validator: A function to validate (verify) whether the transaction was valid and correct.

* 4 Bridge currency: a bridge of currency . When exchanging between real currencies now, you can easily exchange currency by passing bridge currency.

* 5 Bit License: Business license system for virtual currency led by New York State Financial Services Authority (NYDFS)

 

 

Edited February 1, 2017 by Guest
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[Guest]

The text appears to state that there is simply a new Validator service, using tech from Ripple. 

[Guest]

Watch for an English language press release here: http://www.sbigroup.co.jp/english/news/

[rippleric]

14 minutes ago, Max Entropy said:

Note that this node is managed at AT Tokyo, cyber security, like Tokyo at the same time Secom Glue

Must be the attokyo.com validator https://charts.ripple.com/#/validators 

[cmbartley]

Yes, they added it a few weeks ago and had been testing it. Figured it was due to Ripple's expansion into Japan. Does that press release suggest they will start to sell XRP?...

In any event, nice to see another verified validator on the validator list (even if it is run by an extension of Ripple). Would love to see MIT verify once again, see Microsoft and CGI unmasked, and to see a couple banks, FIs, or exchanges get into the validator business.

[rippleric]

2 hours ago, cmbartley said:

Would love to see MIT verify once again, see Microsoft and CGI unmasked, and to see a couple banks, FIs, or exchanges get into the validator business.

We'll probably see some more Japanese validators and other FIs globally as they get ready to roll out commercial products...

[tulo]

You know that validators are useless right now?

But it is nice that people believe in it....

[TplusZero]

@tulo Why is it useless to decentralize the RCL..? I might be overlooking something, but getting traction on the validator front is a very big positive for me!? It 'validates' my belief, that other big players (SECOM has a >15bn USD market cap) put time and effort into RCL...

[tulo]

10 minutes ago, thunderw said:

@tulo Why is it useless to decentralize the RCL..? I might be overlooking something, but getting traction on the validator front is a very big positive for me!? It 'validates' my belief, that other big players (SECOM has a >15bn USD market cap) put time and effort into RCL...

Adding validators doesn't make it decentralized, since the only "connected" validators are the 5 of Ripple...

[Duke67]

Nice series of tweets today from Mr. Kitao, SBI CEO: https://twitter.com/yoshitaka_kitao/with_replies

People who think they have time till April-June for some new activity on RCL are wrong. The system will be fully functional by March 2017. Even it still may be a PoC, the traffic surge will be substantial.

Time to buy XRP is NOW.

[RafOlP]

50 minutes ago, tulo said:

You know that validators are useless right now?

But it is nice that people believe in it....

 

14 minutes ago, thunderw said:

@tulo Why is it useless to decentralize the RCL..? I might be overlooking something, but getting traction on the validator front is a very big positive for me!? It 'validates' my belief, that other big players (SECOM has a >15bn USD market cap) put time and effort into RCL...

 

2 minutes ago, tulo said:

Adding validators doesn't make it decentralized, since the only "connected" validators are the 5 of Ripple...

I think the decentralization of RCL validation network by the addition of highly reliable FIs is very important for XRP, specially if the validators are publicly identified, or at least open to another FIs.

@tulo, today we trust Ripple's validators but this is a risk, everybody chooses this path because there is a bigger risk if you don't. So, when I see a non-ripple validator that is trustworthy, it means less risk when following the ledgers and more strength to XRP as a decentralized crypto.

It also hints me that XRP is making its way among FIs - they would not announce they run a validator just for fun

[tulo]

9 minutes ago, RafOlP said:

@tulo, today we trust Ripple's validators but this is a risk, everybody chooses this path because there is a bigger risk if you don't. So, when I see a non-ripple validator that is trustworthy, it means less risk when following the ledgers and more strength to XRP as a decentralized crypto.

You can trust as many trustworthy validators as you want, but unless Ripple validators don't, it's completely useless...it has passed 4 years and yet RCL is centralized! no other way of seeing it...

[RafOlP]

59 minutes ago, tulo said:

You can trust as many trustworthy validators as you want, but unless Ripple validators don't, it's completely useless...it has passed 4 years and yet RCL is centralized! no other way of seeing it...

I disagree, the thread of ledgers that will matter most is the one that have more validating strength. Ripple may be self closed forever, but if FIs trust each other in a distributed fashion, then Ripple's closeness wouldn't matter at all. The truth belongs to the biggest amount of qualified decentralized validation.

I don't think Ripple will be self-clustered forever, but what choice do they have now for RCL?

Edited February 1, 2017 by RafOlP