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Ripple's Chief Market Strategist says: Banks do not want all their financial transactions on the public ledger

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Posted (edited)

 

I found this article. This has been told about public ledger from 4 to 5 years ago. Still, could not Ripple improve this Demerit?

This seems to be the root cause of banks not adopting XRapid.

It seems difficult for banks to adopt XRP large scale....

Ripple's Chief Market Strategist says:
Banks do not want all their financial transactions on the public ledger

https://www.cryptoglobe.com/latest/2018/12/ripples-cory-johnson-ripple-is-not-decentralized-xrp-is-certainly-decentralized/
 

Quote

 

During the Q&A session, a member of the audience asked Johnson why was xCurrent so much more popular than xRapid among Ripple's customers. Johnson answered:

"xCurrent and xRapid solve different problems that are related. Banks don't want all their financial transactions on the public ledger... For some solutions, xCurrent is perfectly fine. For others, xRapid right. For some, a combination might be right." 

 

 

Edited by jabit

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Posted (edited)
16 minutes ago, emsemporium said:

The small yet crucially important word "all" seems to have escaped your attention there, @jabit.

Do you think that XRP large scale adaption will occur?

 

Edited by jabit

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9 minutes ago, ADingoAteMyXRP said:

Can payment channels be used for this purpose?

Dunno, but in your case: only when the Dingo has dumped something on the grass, and you'll be able to stir in it and find back your Zerps..:D

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I don't know if the quote from Cory is exact cause Xrapid actually doesn't expose banks to public nature of the ledger (partnerships with exchanges) and I'm not even talking about payment channels

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7 minutes ago, Tripple said:

Why are you posting this now, and why are you cherry picking this solitary quote regarding bank adoption from an article that largely focuses on decentralisation?

Perhaps too much good news on the thread today?

This is a bit old article, but I noticed this article today.

This is article of concern to investors.

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Posted (edited)
4 hours ago, jabit said:

Do you think that XRP large scale adaption will occur?

 

Given the way in which the reciprocating mower has superseded the scythe I believe that, in due course, it will.  Why?  Well, perhaps the clue is in the word 'reciprocal'...

Quote

Budding and Ferrabee were shrewd enough to allow other companies to build copies of their mower under licence, the most successful of these being Ransomes of Ipswich which began making mowers as early as 1832. The company has made mowers virtually continuously ever since, and is now the world's largest manufacturer of lawn care equipment.

The above quote is from the Old Lawn Mower Club and refers to the original inventor Edward Bear Budding of Stroud, Gloucestershire, who had the business acumen to do what he did.  I believe Brad Garlinghouse has embraced a similar long-term philosophy when it comes to large scale adoption of xrp as a bridging currency.  Just my 2xrp's worth. :dirol:

https://www.oldlawnmowerclub.co.uk/aboutmowers/history  

Edited by emsemporium

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Posted (edited)
51 minutes ago, kenrino said:

I don't know if the quote from Cory is exact cause Xrapid actually doesn't expose banks to public nature of the ledger (partnerships with exchanges) and I'm not even talking about payment channels

Payment Channels are feature for sending "asynchronous" XRP payments
I think it is not function to mask transactions.

Edited by jabit

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I'll quote Joelkatz:

Quote

Payment channels do give you some measure of privacy because the settlement can be decoupled from the payment. One endpoint can make a dozen payments to another with the receiving endpoint 100% assured of the ability to settle after each payment, with no publicly-visible activity. All that ever needs to be public is the final payment.

 

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