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Panosmek

XRP: Disrupting SWIFT gpi and Correspondent Banking

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4 hours ago, Panosmek said:

Outstanding. 

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They say that about 50% of SWIFT gpi payments are credited to end beneficiaries within 30 minutes. That's right, credited, which means that the actual settlement of funds is still done much later.

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"Global banks like Citi make an automatic $8 billion on cross-border payments. I think Citi will be the last customer we ever sign up because it has the highest vested interest in not changing the status quo."

-Brad Garlinghouse

 

:yes3:

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The companies/institutions that use Corda Settler can choose either to settle with XRP or with SWIFT gpi (the old way that was mentioned earlier).

I wonder which way they choose to settle... do they even have to think about it?

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8 hours ago, Panosmek said:

I hope you enjoy it.

I really liked it,

just to make it even better here's few typo I found

  • Don't froget
  • correspodent
  • corresepondent
  • contrinue

 

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11 hours ago, Panosmek said:

https://xrpcommunity.blog/xrp-vs-gpi/

In this blog
• I write about the disadvantages of SWIFT and Correspondent Banking.
• I talk about the XRP advantages and compare it with SWIFT gpi.
• I explain how Corda Settler works and what SWIFT's partnership with R3 really means.

I hope you enjoy it.

Nice.  Simply worded and easy to understand.

 

I believe (because I can) that Gottleib is stepping down because he sees the future but  isn't able to fill his XRP bags while he's the acting SWIFT CEO.  Conflict of interest.  Impropriety. Ethics. The whole works.

So right now, he's hoping to hold back the XRP price until he can load up.  No positive statements.. a little FUD here and there.. Meanwhile, behind the scenes, he's setting up SWIFT to be able to settle in XRP a few months after he's resigned.  This give him a couple of months to buy in at low prices.

I have absolutely no evidence of this, no real reason to think this, and quite honestly I just made it up.  But that's probably what he's doing.  

 

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3 hours ago, JBW said:

The companies/institutions that use Corda Settler can choose either to settle with XRP or with SWIFT gpi (the old way that was mentioned earlier).

I wonder which way they choose to settle... do they even have to think about it?

Right now yes, they have to think about it because as i explain, in order to choose XRP on Corda Settler both counterparties must be using XRP and the receiver gets XRP which means that holds, so you will not see many choosing XRP because there isn't much adoption yet. SWIFT gpi is the preferable choice. For now...

Edited by Panosmek

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11 minutes ago, Panosmek said:

Right now yes, they have to think about it because as i explain, in order to choose XRP on Corda Settler both counterparties must be using XRP and the receiver gets XRP which means that holds, so you will not see many choosing XRP because there isn't much adoption yet. SWIFT gpi is the preferable choice. For now...

Ok now I got it, thanks. But let's hope in the future they want to save money and the XRP adoption rises... then it would be XRP of course :) 

It was a great article BTW, thanks.

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19 hours ago, Panosmek said:

https://xrpcommunity.blog/xrp-vs-gpi/

In this blog
• I write about the disadvantages of SWIFT and Correspondent Banking.
• I talk about the XRP advantages and compare it with SWIFT gpi.
• I explain how Corda Settler works and what SWIFT's partnership with R3 really means.

I hope you enjoy it.

Enjoy it?  Hell yeah!  You got info in there, quotes and opinions from individuals with a lot of related experience that reveal just how important Ripple/XRP could be to the future infrastructure of global payments, and you tied it nicely, concisely together. :)

I did a recent post mentioning Marcus Treacher.  He's the guy at Ripple that realizes the importance of this tech as it relates to global payments and banks - just look at his related professional history, as highlighted in the following quote:https://ripple.com/company/leadership/

Quote

Marcus Treacher

Marcus Treacher is the SVP of Customer Success at Ripple. Marcus has over 30 years of experience in transaction banking and payment technology, including 12 years in global leadership roles at HSBC. He served as a member of the Global Board of SWIFT from 2010 to 2016. Prior to joining Ripple Marcus was HSBC’s Global Head of Payments Innovation, applying emerging fintech to solve customer challenges in digital payments, trade and supply chain. Prior to HSBC, he held leadership positions at Citigroup and Accenture. Marcus also works with industry communities, organizations and governments to help shape new payment practices. He chaired SWIFT’s global advisory body for corporates from 2010 to 2016 and is an independent non-executive director of CHAPS Co, the UK’s RTGS clearing company, where he chairs the CHAPS Security committee & User Group.

Eric van Miltenburg

 

Edited by enrique11

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35 minutes ago, enrique11 said:

Enjoy it?  Hell yeah!  You got info in there, quotes and opinions from individuals with a lot of related experience that reveal just how important Ripple/XRP could be to the future infrastructure of global payments, and you tied it nicely, concisely together. :)

I did a recent post mentioning Marcus Treacher.  He's the guy at Ripple that realizes the importance of this tech as it relates to global payments and banks - just look at his related professional history, as highlighted in the following quote:https://ripple.com/company/leadership/

 

Marcus Treacher is really one of the most important people in Ripple and he does know very well what SWIFT really is and how bad it is and he always point this out! 

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