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Hey guys, 

Finally found some time to research a post from last month that caught my attention. If you have not done so already, take a look into @NMNR's post about a Ripple Labs, Inc. and Bank of America partnership (links below). Several trademarks filed in 2017 by BoA are more interesting now after reading @NMNR's posts. 

A trademark is a symbol, word, group of words, name, and/or a design that is legally registered or established by use as representing a company or a product/service. One files for trademark protection in order to establish the presumption of ownership, to establish the right to use the mark on or in the connection with goods/services.

In June and July, 2017, Bank of America filed six (6) trademarks with the United States Patent and Trademark Office (USPTO) - "xATM," "XATM," "xATMS," "XATMS," "XTM," and "XTMS," right around the time @NMNR claims BoA and Ripple entered into an alleged partnership. These filings are interesting because Ripple (the company) has similar trademarks - "xCurrent," "xRapid," and "xVia" - specifically speaking, the "x" in front of each word and/or service mark. Furthermore, these filings are even more interesting if @NMNR's other statement is true - an exclusive agreement between the two parties. Trademarks provide a competitive advantage as well.  

Arguably, in my opinion, these trademarks filings from 2017 bolster @NMNR's claims of a Bank of America partnership. 

Lastly, these trademark filings could mean nothing (ha, doubtful though). @NMNR, if possible, dig into these filings some more. We would love to hear more about "xATM" and what BoA is thinking, if possible. A automated teller machine service that dispenses XRP and/or allows a customer to withdraw XRP from their bank account?

Yes, please.  


https://www.xrpchat.com/topic/29147-qa-payments-innovation-bank-of-america/?do=findComment&comment=634318

https://www.xrpchat.com/topic/28812-brad-garlinghouse-fis-are-already-using-xrp-in-their-payment-flows/?do=findComment&comment=629251

 

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I can certainly ask the question. The chap I largely chat with is on annual leave, like myself till the first week or so in January. 

Personally, I think the trademarks and whatever patents (if any) are for (future) protection. 

Though, I think it's just a coincidence of the letter usage of "X" and the timing of the trademarks. 

I would be cautious though because in every document and internal source I've read is very explicit in not using XRP itself. So the idea of dispensing XRP is a non-starter at "this stage". However, that's very different to using Xcurrent which is already being used/tested etc. 

I think these trademarks are to offer customers and clients not to dispense XRP but dispense holdings in their current accounts to whichever currency they want if abroad at a fraction of the cost. 

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Regarding @NMNR BoA/Ripple partnership claim. Are there any other software products where the developer agreed with a customer that they will have veto over what other companies can buy the software? It sounds very strange, especially when the whole point of this software is to connect a network of users.

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2 hours ago, NMNR said:

I think these trademarks are to offer customers and clients not to dispense XRP but dispense holdings in their current accounts to whichever currency they want if abroad at a fraction of the cost. 

 

 

This is what attracted me to XRP many years ago.

Going abroad and being able to cash out any currency at the best exchange rates (using the path-finding algorithm) for fractions of a cent.  No ATM fees, no conversion fees, no foreign currency fees, not locked into whatever exchange rate the bank would charge you because it could.

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13 minutes ago, PlanK said:

 

 

This is what attracted me to XRP many years ago.

Going abroad and being able to cash out any currency at the best exchange rates (using the path-finding algorithm) for fractions of a cent.  No ATM fees, no conversion fees, no foreign currency fees, not locked into whatever exchange rate the bank would charge you because it could.

FI's using xRapid and thus XRP does not eliminate those charges being passed on to you, only the costs they bear as a FI.

They can still charge you ATM fees, FX Conversion fees, predetermined FX rates etc. But hopefully competition between FI's can reduce these. They still need to make money off you.

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^

I expect the best competition will come from mobile apps and online banks with no brick & mortar holdings.  Pay using your mobile or paywave with some biometric security.

The old RippleTrade gave us a taste of what was possible.  Hopefully I'll see in my lifetime.

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On 12/23/2018 at 7:16 PM, BrownBear said:
On 12/23/2018 at 6:59 PM, PlanK said:

 

 

This is what attracted me to XRP many years ago.

Going abroad and being able to cash out any currency at the best exchange rates (using the path-finding algorithm) for fractions of a cent.  No ATM fees, no conversion fees, no foreign currency fees, not locked into whatever exchange rate the bank would charge you because it could.

FI's using xRapid and thus XRP does not eliminate those charges being passed on to you, only the costs they bear as a FI.

They can still charge you ATM fees, FX Conversion fees, predetermined FX rates etc. But hopefully competition between FI's can reduce these. They still need to make money off you.

This is where it would get very interesting for forward-looking financial institutions-suppose you had your XRP in with your fiat bank account and COULD convert to any currency you needed while traveling. It would be your own personal bridge currency and you're right @BrownBear in time, competition between banks offering this same service should bring down the currency "exchange fees". That will be an awesome future to see!

 

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Great research as always @brjXRP17.

I just hope that Ripple’s IP specialists and trademark attorneys are jumping onto the issue of registration of the little “x” in relation to financial goods and services. In terms of the impending IoV and fintech industries, that little “x” could have the same brand pull as “Mc” for Macky D’s and the “i” for Apple Inc.

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