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Dutch Banks 5 second transactions


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On ‎2‎/‎16‎/‎2019 at 12:31 PM, XRP-4live said:

https://nos.nl/artikel/2272168-geld-binnen-nederland-straks-in-5-seconden-overgeboekt.html

Dutch banks are sending money to each other is 5 second, and later also possible with other banks in Europe. Thoughts about this?

Part of the Target2 network implemented this year. Makes sending money within the European union much faster, but is not a settlement as far as I know. Just a (quick) messaging system like (the slower) Swift. Has nothing to do with Ripple and is not a bad sign.

Ripple comes into play when you want to send your euros outside of Europe, for example to INR, CNY or any other currencies. Not that Ripple (and XRP) doesn't have the power to be the backbone of the entire money flow troughout the globe in a decade from now ;)

https://nl.wikipedia.org/wiki/TARGET2

Edited by Caracappa
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