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But the biggest impact for this community, is when banks start acting as "asset custodians" on the behalf of their customers. Banks are already "trusted" by consumer to hold their fiat. That is exactly what a bank account is. I will make a lot of sense for the non-early adopters and non-tech savvy to have their bank hold and possibly insure their XRP deposits as well

 

@BobWay  I agree 100%.  I have thought it is just a matter of time before Banks start acting as Custodians for holding our Crypto Assets.  I also believe it would be beneficial for us as far as converting over to Fiat.  The Banks would know exactly where the Money came from and more than likely would not think you were laundering Money and turn you in.

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24 minutes ago, BobWay said:

I personally think you'll see some experiments with banks holding XRP to facilitate payments themselves first. That would make a good press release to show thought leadership. And I will applaud them for doing so.

I’m gonna have to agree; that would make a pretty nice press release ;) 

So if AmEx can build its own branded x border payments solution, FXIP, which runs on Ripple, Bank of America can offer its own branded custody solution which runs on Polysign? 

That’s kind of where my brain goes. Very exciting stuff if so. 

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On 3/13/2019 at 1:47 PM, stuartXRP said:

@Dario_o  These are some of the finding I have\XRP community have found so far about Ripple/R3, Going after the derivatives market ($1.2 quadrillion market) :sun_bespectacled:

Video is from 2015 Susan Athey - CODIUS

 

In most SBI reports you will see this picture (attached)

 

 

***PART 2*** R3 Corda Settler -  Derivatives there needs to be some sort of payment or settlement, "R3 Launches Universal Settler Application to Facilitate Global Payments on Corda; XRP the first settlement mechanism" December 5th 2018 

 

1.jpg

 

This is also a great read by Ripple from JUL 16, 2014 - https://ripple.com/insights/smart-oracles-building-business-logic-with-smart-contracts/

Smart contracts with Codius

Smart contracts hold the potential to empower people to build a fairer, more affordable and more efficient legal system and smart oracles are one of the simplest ways to realize that dream.

Potential use cases: 

- Bridges between value networks

- Escrow. 

- Cryptocurrency wallet controls.

- Auctions for digital assets

Derivatives. Contracts that monitor the performance of digital or non-digital assets can also be used as futures, forwards, swaps, options.

- Debt and equity

- Smart property

- Voting

I honestly think this is way to optimistic thinking. Yes the derivatives market might be 1.x quadrillion in value. It doesn't mean that 1.x quadrillion of money is flowing around. Derivatives can inflate something of 10$ value to e.g. tenfold by having multiple contracts that equal each other out. Sorry I'm not very good at explaining this but having 100% of the derivatives market does not mean 1.x quadrillion will flow around.

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 I was watching an interview today from 2nd may 2018, It was Barry Silbert and David Kirkpatrick at DLD conference New York City

Barry says

"..institutional money has not put $1 in yet it's really been retail investors it's been family offices but the deep pools of capital, that could propel Bitcoin and other digital currencies to the next level haven't even started investing. why are  they not sort of investing, I think part of it is the kind of the the perception, well look I mean there's a perception that there's a headline risk yeah but I can assure you that as soon as the Goldmans of the world launch their trading desks or you know XYZ big funds or sovereign wealth fund puts money into it they'll have the air cover to start putting money to work, and so we when that's gonna happen it's absolutely gonna happen it's really just a matter of when.

 

Wikipedia,  encyclopedia definition of sovereign wealth fund

 

"A sovereign wealth fund (SWF) or sovereign investment fund is a state-owned investment fund that invests in real and financial assets such as stocks, bonds, real estate, precious metals, or in alternative investments such as private equity fund or hedge funds. Sovereign wealth funds invest globally. Most SWFs are funded by revenues from commodity exports or from foreign-exchange reserves held by the central bank. By historic convention, the United States' Social Security Trust Fund, with US$2.8 trillion of assets in 2014, and similar vehicles like Japan Post Bank's JP¥200 trillion of holdings, are not considered sovereign wealth funds.

Some sovereign wealth funds may be held by a central bank, which accumulates the funds in the course of its management of a nation's banking system; this type of fund is usually of major economic and fiscal importance. Other sovereign wealth funds are simply the state savings that are invested by various entities for the purposes of investment return, and that may not have a significant role in fiscal management.

The accumulated funds may have their origin in, or may represent, foreign currency deposits, gold, special drawing rights (SDRs) and International Monetary Fund (IMF) reserve positions held by central banks and monetary authorities, along with other national assets such as pension investments, oil funds, or other industrial and financial holdings. These are assets of the sovereign nations that are typically held in domestic and different reserve currencies (such as the dollar, euro, pound, and yen). Such investment management entities may be set up as official investment companies, state pension funds, or sovereign funds, among others"

 

"Last year, CoinBase was able to raise an impressive $300 million and now it seems that GIC, a Singaporean wealth fund, was one of the firms that contributed to that fund."  So some Sovereign Wealth Fund have shown an interest in the crypto space. 

 

So Digital Currency Group was launched in 2015 by Barry Silbert, and Digital Currency Group is an investor of Ripple. What caught my eye was "sovereign wealth fund puts money into it", could SWF put money into XRP. Some sovereign wealth funds may be held by a central bank, this type of fund is usually of major economic and fiscal importance.  Chris Larsen Money 20/20 24 Oct 2018 “10 years out on the financial crisis we still don’t have the infrastructure perhaps to prevent the next one”  continuing “an efficient digital asset can really solve some of the key problems in global liquidity”. So a with really efficient digital asset such as XRP trillion upon trillions of capital tied up can be released, without having money pre positions all around the world. XRP will have a major economic and fiscal importance in my opinion, can you see sovereign wealth fund's purchasing XRP in the future @BobWay ?

thanks 

 

 

 

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6 hours ago, stuartXRP said:

Barry says

"..institutional money has not put $1 in yet it's really been retail investors it's been family offices but the deep pools of capital, that could propel Bitcoin and other digital currencies to the next level haven't even started investing. why are  they not sort of investing, I think part of it is the kind of the the perception, well look I mean there's a perception that there's a headline risk yeah but I can assure you that as soon as the Goldmans of the world launch their trading desks or you know XYZ big funds or sovereign wealth fund puts money into it they'll have the air cover to start putting money to work, and so we when that's gonna happen it's absolutely gonna happen it's really just a matter of when.

IBM is working on a pretty robust custody solution:  https://www.coindesk.com/ibm-quietly-enters-crypto-custody-market-with-tech-designed-for-banks

 

but do you have a link where Silbert is discussing what you were saying? 

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Ahh ok - got it. Yes I understand the 'network effect' thanks.

cheers

 

 

 

 

Hi Bob,  Love your work and Great to be able to chat and have you answer our questions- I'm MajorTomXRP.

The patented mechanism your refer below,

 is this mechanism in action- has it been deployed yet? We are not seeing any pressure to the upside in action.

If not what are they waiting on? Is there some threshold that needs to be met for full Xrapid deployment?

 

[The mechanism that we patented:

Is completely non-biased. It doesn't care which trader facilitated a payment.

It works without enforcing or attempting to enforce price stability. Each market follows standard supply/demand dynamics.

It only subsidizes risk on the trader supplied funds that actually facilitate bridge payments.

Is scrupulously efficient in deploying XRP. This is what prevents it from putting a downward pressure on price.]

thanks again

MT

 

 

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57 minutes ago, MajorTomXRP said:

 is this mechanism in action- has it been deployed yet? We are not seeing any pressure to the upside in action.

If not what are they waiting on? Is there some threshold that needs to be met for full Xrapid deployment?

 

I answered above when you weren't looking. :)

 

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Hello @BobWay and everyone. This is my first post here, so I will apologize in advance if I put this in the wrong thread. In full disclosure, I am not a tech guy and quite frankly have no idea about the inner workings of XRP or the ledger. I do however understand the concept of what it is trying to do, hence why I am a holder.

I believe that XRP will have great success in the space based on actual utility and I'm quite sure there are probably use cases that haven't even been thought of yet. 

I know the team at Ripple have made it clear that change comes from within, that's why they are very vocal about working WITH regulators around the world.  My question is, are people reading too much into things such as, meetings with people from the IMF? Obviously there is huge speculation that those ties have some significant meaning that will certainly effect more than just us retail holders.

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On 3/17/2019 at 1:52 PM, BobWay said:

I personally think you'll see some experiments with banks holding XRP to facilitate payments themselves first. That would make a good press release to show thought leadership. And I will applaud them for doing so.

But the biggest impact for this community, is when banks start acting as "asset custodians" on the behalf of their customers. Banks are already "trusted" by consumer to hold their fiat. That is exactly what a bank account is. I will make a lot of sense for the non-early adopters and non-tech savvy to have their bank hold and possibly insure their XRP deposits as well.

Hold and insure are fine. However if they try to make it a crypto portfolio similar to a stock portfolio and try to use an outdated "formula" to trade crypto as if it were stocks

Their antiquated management for novice investors will make paupers out of many unskilled crypto investors. 

An example would be JP Morgan advising the investor to hold an excessive amount of JPM coin. 

Also what kind of fees would big banks charge to hodl crypto.   Asset custodian = Bank fees !!!  

There is a lot of good and bad hodling yourself or having big bank take care of it. 

I choose the former !!!  at least for now. 

 

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On 3/17/2019 at 8:52 PM, BobWay said:

I personally think you'll see some experiments with banks holding XRP to facilitate payments themselves first. That would make a good press release to show thought leadership. And I will applaud them for doing so.

But the biggest impact for this community, is when banks start acting as "asset custodians" on the behalf of their customers. Banks are already "trusted" by consumer to hold their fiat. That is exactly what a bank account is. I will make a lot of sense for the non-early adopters and non-tech savvy to have their bank hold and possibly insure their XRP deposits as well.

My bank is buying stocks for me on a monthly basis . Everything automated 

I would love something like that for xrp / crypto 

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