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Julian_Williams

XRP partners R3- Corda working with the entire Italian banking system

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The trial ran for 10 months and ended in Oct. 2018. So is it safe to say no xrp was used since during that time Ripple and r3 were not exactly on the best of terms? 

I'm all for more partners and bigger networks so hate to be a party pooper but it's the first thing I thought ☹️

Edited by LordVetinari

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43 minutes ago, LordVetinari said:

The trial ran for 10 months and ended in Oct. 2018. So is it safe to say no xrp was used since during that time Ripple and r3 were not exactly on the best of terms? 

I'm all for more partners and bigger networks so hate to be a party pooper but it's the first thing I thought ☹️

I agree this is not news of trials that included XRP, but it very much is about including the whole Italian Banking system in a network which is has since developed an arrangement whereby  XRP is the preferred bridging asset for settlement. 

Edited by Julian_Williams

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My bank, in Croatia, is getting rid of American Express cards EOY. New Visa cards will be available instead.
The bank is part of Intesa Sanpaolo.

Wondering if that has to do *anything* with this :JC_thinking:

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I found this interesting:

"..and the decentralized network infrastructure provider SIA"

is this referencing the same SIA that's a DFS?  If so, I think that's great because XRP is far better designed than SIA for this application.  Since this was before the R3/Ripple settlement, perhaps R3 was trying their best to use another DA in place of XRP.

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4 hours ago, djdhrubs said:

Would have been nice to find 'XRP' written down somewhere in that document but what the hell.

You won't. This article mentioned interbank transfers within Italy. 17 Italian banks were involved.  XRP can be used to move payments from one Italian bank to another, but it won't be used as a bridging currency to move payments within Italy.  That doesn't make sense. Anyway, I didn't read the article...only read the part about the 17 banks being Italian, so maybe there are other parts of the article that talk about expanding  beyond Italy's borders, as in cross-border interbank payments to non-Italian banks.

Edited by enrique11

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1 hour ago, aye-epp said:

is this referencing the same SIA that's a DFS?

No the SIA is an Italian company for technology solutions & services for financial institutions. By the way and interesting (but without triggering rumors), SIA works with the TAS Group which as mentioned here in xrpchat, has connections with Ripple. Could be worth investigating some more.

https://www.sia.eu

https://www.tasgroup.eu/solutions/payment-networks/interbank-payment-networks/network-gateway-en

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6 hours ago, zerpdigger said:

so glad r3 are an ally not an enemy! unreal progress

agreed, except everyone in this forum would spin it "competition is good" before they were partners.

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This is cool. Now we have Japan doing their domestic interbank transactions on a Ripple based solution, and Italy doing domestic interbank transactions on an R3 based solution. Once all the domestic RTGS systems get up and running it will play right into Ripple's hands for the international transactions. 

From there (international transaction settlement via Commercial Bank deposits), I think the next improvement would be domestic CBDC, enabling international transactions to be settled via Central Bank liabilities. I'd guess CBDC issuance to start around 2020-2022, through 2025.

Edited by KarmaCoverage

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