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itcdominic

Swift Fights Back

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1 hour ago, itcdominic said:

This wont happen until the SEC....... "5h!ts or gets off the pot" (as my dad use to say.

Banks and FIs aren't concerned with the SEC, unless they are publicly traded company. They are more concerned with the Federal Reserve, which is the regulatory agency they deal with the most. The problem with FI's and banks is that they are wanting more privacy for the transactions over the block chain. That's the hurdle at present. 

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2 hours ago, Kal316 said:

Remember when Blockbuster was really slow to launch a mail-order DVD rental service (xCurrent) to compete with Netflix, but Netflix was already moving toward streaming (xRapid)?  This is that.

To make this even funnier, Blockbuster could have bought Netflix when it was young. The CEO wanted to do the deal, and the board moved aginst it. They fired the CEO, waited a few years to realize just how bad they screwed up.. then rehired the CEO and tried/failed to play catch up.

The personal irony is that the insurance franchise I left circulated this story as a means of boasting about their innovativeness, which means buying & internally bundling SaaS services.

Yet they had a chance to start working on P2P back in 2014, and I brought them other cost saving, service improvement, control of data flow options, and the scoffed like I was crazy. They dont know what game they are playing. 

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58 minutes ago, ADingoAteMyXRP said:

They tried last year, failed miserably to implement a token-based blockchain, and declared it a waste of time. Swift has neither the resources, nor the corporate structure, nor the inclination to enter into this space.

I know. My point is to never underestimate the opponent you're trying to replace. Never. It could mean winning the battle but losing the war. 

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55 minutes ago, XRP-JAG said:

XRP’s fortunes are no longer the in the hands of Ripple.

R3 (more banks than you could shake a FOMO stick at) are setting exclusively in XRP right now. That is the only news that matters right now. 

Exactly.

Couldn’t have said it better  

 

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4 hours ago, Mr_Cambridge said:

I know. My point is to never underestimate the opponent you're trying to replace. Never. It could mean winning the battle but losing the war. 

Swift would need to create a digital asset that was publicly traded across multiple fiat pairs that would then become more popular than XRP in order to become more liquid and valuable than XRP (otherwise why not just plugin xrapid to GPI?). Xrapid is not competing with GPI. It can be a component of GPI. 

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1 hour ago, 2ndtimearound said:

Swift would need to create a digital asset that was publicly traded across multiple fiat pairs that would then become more popular than XRP in order to become more liquid and valuable than XRP (otherwise why not just plugin xrapid to GPI?). Xrapid is not competing with GPI. It can be a component of GPI. 

Agreed. But my point and position is still the same. I'm not saying SWIFT will create a digital asset to compete with XRP. I'm saying it shouldn't be ruled out, even when we understand your points above. 

I like the Blockbuster comparison and how Netflix ate their lunch. But this isn't Blockbuster. This is a legacy banking consortium with some of the most powerful financial people on the planet.

I'm rooting for XRP, Ripple, R3 and everyone else. Heck, we will benefit so much for so many reasons, beyond just financial gain...

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24 minutes ago, Mr_Cambridge said:

Agreed. But my point and position is still the same. I'm not saying SWIFT will create a digital asset to compete with XRP. I'm saying it shouldn't be ruled out, even when we understand your points above. 

I like the Blockbuster comparison and how Netflix ate their lunch. But this isn't Blockbuster. This is a legacy banking consortium with some of the most powerful financial people on the planet.

I'm rooting for XRP, Ripple, R3 and everyone else. Heck, we will benefit so much for so many reasons, beyond just financial gain...

Ok so you’re saying we shouldn’t rule out that swift might create a digital asset that’s publicly traded across multiple fiat pairs and becomes more popular than XRP. Technically it’s possible, but that kind of liquidity and value takes years of work to achieve that through marketing, networking, etc. 

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I think SWIFT is late to the game , they can build their own system but by then it is to late.  Why are they trying now, why not 10 years ago or 5 years ago?  Because they know they are screwed and playing catch up won't help.

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45 minutes ago, tony71 said:

I think SWIFT is late to the game , they can build their own system but by then it is to late.  Why are they trying now, why not 10 years ago or 5 years ago?  Because they know they are screwed and playing catch up won't help.

Classic Blockbuster miss

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