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SBI makes company with R3. And R3 and Ripple have started cooperation.

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Out of curiosity, is this similar to the ILP but for corporates within the r3 network? So just like how any corporate or bank connected to ILP, the most ideal asset/way to settle is XRP so hopefully we will see a majority of the names that are part of r3 corda actually choosing XRP as a settlement option.

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5 minutes ago, Artoflife said:

Out of curiosity, is this similar to the ILP but for corporates within the r3 network? So just like how any corporate or bank connected to ILP, the most ideal asset/way to settle is XRP so hopefully we will see a majority of the names that are part of r3 corda actually choosing XRP as a settlement option.

It does sound like ILP to me especially on this segment: 
The Corda Settler is an open source CorDapp that allows payment obligations arising on the Corda Network to be settled via any parallel rail supporting cryptocurrencies or other crypto assets, and any traditional rail capable of providing cryptographic proof of settlement. Uniquely, the Corda Settler will verify that the beneficiary’s account was credited with the expected payment, automatically updating the Corda ledger. In the next phase of development, the Settler will support domestic deferred net settlement and real-time gross settlement payments

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8 minutes ago, kryptoroi said:

I have a feeling that R3 managed to get their hands on A LOT of XRP after the settlement and are now incentivized to see xrp succeed.  So i believe they will now push the use of xrp down the throats of their partner!

I agree, something has transpired not sure if it's them getting their hands on a lot of XRP but something has transpired where I believe that R3 has a mutual stance in seeing XRP thrive...It could be a common element like the partnership with SBI though that they have along with Ripple.  The lawsuit was never about them not using XRP but how much of it they were entitled to based on certain agreements and actions performed.  Companies that utilize other companies products to compliment or create their products sue each other all the time and in most cases they maintain a working relationship afterwards.

Edited by RikkiTikki

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Someone correct me, I'm sure I'm at least partially wrong as I only took a quick look at Corda a year or so ago.

Corda uses a Notary, (which I believe is somewhat like RippleNet running in Atomic ILP mode) so the Notary has to verify certain aspects of a transaction "contract". Which is sort of like an Oracle verifying some input data into a contract. At some point this contract's obligations are going to need to be settled... XRP is an option.

Corda was courting use cases a while back, one they looked at was the national mortgage registry, as well as a few other markets where a group of companies need to communally track something.  

 

Edited by KarmaCoverage

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6 minutes ago, KarmaCoverage said:

Someone correct me, I'm sure I'm at least partially wrong as I only took a quick look at Corda a year or so ago.

Corda uses a Notary, (which I believe is somewhat like RippleNet running in Atomic ILP mode) so the Notary has to verify certain aspects of a transaction "contract". Which is sort of like an Oracle verifying some input data into a contract. At some point this contract's obligations are going to need to be settled... XRP is an option.

Corda was courting use cases a while back, one they looked at was the national mortgage registry, as well as a few other markets where a group of companies need to communally track something.  

 

Yes, which is also something they brought up with the Proof of concept with the bank of England.
https://www.bankofengland.co.uk/-/media/boe/files/payments/rtgs-renewal-programme-proof-of-concept-supporting-dlt-settlement-models.pdf?la=en&hash=894DFF2C6DE88434EA3A96612E9FD6F454BF68DA

R3 Bank of England.JPG

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@GrayFox I think the difference between an Oracle and a Notary, is that an Oracle is a source of data inflow (x event has happened in the real world, Bob's Dead!) vs a Notary verifies that the transactions meet cryptographic requirements, and gives the system some atomic settlement.

I'm sure other people here can explain that better than I can.

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19 minutes ago, kryptoroi said:

I have a feeling that R3 managed to get their hands on A LOT of XRP after the settlement and are now incentivized to see xrp succeed.  So i believe they will now push the use of xrp down the throats of their partner!

Agree.

Wasnt there a recent thread on large movements from XRP wallets . I wonder if the two are related . 

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Just now, KarmaCoverage said:

@GrayFox I think the difference between an Oracle and a Notary, is that an Oracle is a source of data inflow (x event has happened in the real world, Bob's Dead!) vs a Notary verifies that the transactions meet cryptographic requirements, and gives the system some atomic settlement.

I'm sure other people here can explain that better than I can.

Yes! I would love to hear more. I think my excitement levels are 2 levels away from a heartache right now.

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32 minutes ago, KarmaCoverage said:

@GrayFox I think the difference between an Oracle and a Notary, is that an Oracle is a source of data inflow (x event has happened in the real world, Bob's Dead!) vs a Notary verifies that the transactions meet cryptographic requirements, and gives the system some atomic settlement.

I'm sure other people here can explain that better than I can.

what is atomic settlement?

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