Chat: General

[King34Maine]

Hey Bob, not sure if you touched on this yet or not, but I was wondering if there was a focus on incorporating Artificial Intelligence into XRP-Ledger, Codius, or Interledger. I know of a few blockchain platforms (i.e. Matrix AI) that are using AI within their blockchain, especially smart contracts, to allow the average or novice person to utilize natural language programming to initiate/create smart contracts. So, basically, the AI does all of the various code computations converting free-form text or natural language into an actionable smart contract. 

[BobWay]

4 minutes ago, King34Maine said:

 I was wondering if there was a focus on incorporating Artificial Intelligence into XRP-Ledger, Codius, or Interledger.

I haven't heard of anything specific. I doubt it would apply to XRP Ledger or Interledger. But AI agents could utilize either of those to ledgers while running external to them. Which is really what Codius is designed to do. Run "smart contract" algorithms off-ledger (external to where the accounting is done).

I'm sure someone might eventually do something like you wrote about above for codius, but as you describe it, that seem great for any general programming task. A smart contract is just one simple instance of that larger class of general programming.

There is nothing particularly "smart" about most contract. The term was just to contrast with the "dumb" method of making humans interact at every step in a process.

[princesultan]

34 minutes ago, BobWay said:

I moved the above question to General from the introduction List.

Santander is very forward thinking. They were also very eager to expand their corridors. So if that is what they say, I'd believe them at face value.

What maybe be confusing people is the difference between xRapid as a product and XRP as a bridge or settlement asset. Specifically, xRapid started out initially as a product marketed towards payment services and remittance companied. This is a separate payment ecosystem to bank transfers. (There are other payment ecosystems). The xRapid product uses XRP as its bridge asset in order to facilitate liquidity for those payment services companies.

Santander started out using xCurrent before xRapid even existed (if memory serves). All xCurrent customers get to decide how they want to configure each of their corridor's liquidity relationships. Often they use some form of synchronized nostro or vostro accounts. But of course these need to be pre-funded or settled after the fact. How that happens is up to the bank. XRP payment paths are as good a solution to pre-funding or settling bi-lateral (two party) accounts as they are for other types of payments. 

I have no specific information regarding the latest on Santander, but It is reasonable to presume that xCurrent banks might decide to use XRP in their flows, without being that effort branded as xRapid. Since the xRapid branding was developed for a different industry.

Thanks for your thoughts!

[SquaryBone]

On 3/21/2019 at 5:57 PM, BobWay said:

I have to admit, I never notice him until I showed up in this forum a week or so ago. Don't remember anyone at Ripple every mentioning the name either. There are lots of loud people on the internet. Ripple has a social media team to monitor things, but maybe I was long gone from the company then. But going back in time, the only time I remember the company caring about internet trolls, was back in the "ripplescam" days. I've posted on that elsewhere in this forum.

By the way, people keep saying "leaking information".  Did he ever say anything that turned out to be true? Or that demonstrated advanced knowledge of a pending ripple press release?

That was one of my questions ( unanswered comment in your introductory post). I've never seen anything really reliable. SamIAm is expert in taking him seriously.

[Wrutherfoord]

On 3/17/2019 at 3:47 PM, BobWay said:

The mechanism is NOT in action yet and it is by no means "magic". It can't "spike" the price on demand.

The mechanism is meant to drive XRP into the bridge currency position. It does this by steering payment from traditional fiat/fiat corridors to fiat/xrp/fiat corridors. But to make that work it needs as much RippleNet payment volume as it can get. That includes both bank payment volume and xRapid payment volume.

The mechanism in ONE way to unite to currently different ecosystems. Bank payments vs Payment Service Provider payments.  Into a single unified system. This has to potential to drive a huge "network effect". (google that term)

Hi Bob,

When you say the "mechanism is NOT in action yet," is this because it's not finished technically speaking, or is it because the RippleNet volume has not reached the necessary threshold to actually "drive XRP into the bridge currency position?"

Whatever the reason, when would you expect to see the mechanism activated?

Thanks very much for sharing your point of view and for helping to keep us XRP speculators grounded in reality.

Walt

[BobWay]

14 hours ago, Wrutherfoord said:

Whatever the reason, when would you expect to see the mechanism activated?

Bob's Note: I expanded on this answer a little bit in the patent thread. I think any discussion should continue there.

 

The primary reason for talking about "my mechanism" is to convince everyone that "at least one mechanism exists" that could drive XRP into its prime position as a bridge currency. Now lots of people in the cryptocurrency space presume that is true. They also presume that their favorite cryptocurrency is going to become a bridge just because it is awesome and had (X special feature) that other currencies don't have.

But people that study the economics of the ecosystem are rightfully skeptical that ANY cryptocurrency could actually become a de facto bridge currency. If you try to write down the sequence of steps needed for that to happen, there are almost always significant logical or conceptual gaps in most cryptocurrency fan theories.

So what I set out to determine was, "Is there really a plausible path to make that happen?"  And also, "What are the necessary requirements and 'forces' needed to actually make that happen." That is what I documented inside the company. That was also what we patented and I assigned to Ripple. (I've discussed this elsewhere on this site so I won't rehash the back story.) The company has hinted at these techniques, but has not detailed any particular strategy that they will employ. (At least based on what I've read in their press releases and public statements.)

I think I've discovered "the last algorithm" that RippleNet needs to drive XRP into the bridge currency position. And also to maintain it there in perpetuity. But that algorithm won't necessarily be the first one employed to help XRP along on that path. There are other ad-hoc ways that might be simpler to implement and more effective for the initial corridors that companies want to deploy.

Now keep in mind, saying "I discovered the last algorithm" isn't very humble. Also note that once you find "a way" of doing something thought impossible, it becomes much, much easier to find a second even better way. That was the lesson of bitcoin's consensus algorithm. No one could find a good consensus algorithm because no one thought it could be done. So no one thought they should bother looking. Once the bitcoin algorithm was found, then boom! The ripple algorithm, a re-emergence of other known 'academic' algorithms, proof of stake, proof of space...  Expect the innovation to continue.

So, there is no guarantee that Ripple will ever deploy my exact algorithm. They may have even better ideas in mind. Ones that I'm not privy to. But what I do know for sure, is that most of the other cryptocurrency teams don't have the resources they need to drive their currency into the bridge position. Nor do they even understand the economics of the ecosystem well enough to know why that is true.

Edited March 25, 2019 by BobWay

[ChazzCoin]

@BobWay hey, I don't really know where to put this question exactly nor could find where you have explained it but assume you have, very sorry.

Can you help explain gateways, their functions, etc?

Or lead me to the answer in this community!?

Thanks Bob!

[BobWay]

Just a clarification on this from above.

16 hours ago, princesultan said:

Not sure what thread to add this to, but What’s your thoughts on this @BobWay?

 

I responded:

15 hours ago, BobWay said:

I moved the above question to General from the introduction List.

Santander is very forward thinking. They were also very eager to expand their corridors. So if that is what they say, I'd believe them at face value.

What maybe be confusing people is the difference between xRapid as a product and XRP as a bridge or settlement asset. Specifically, xRapid started out initially as a product marketed towards payment services and remittance companied. This is a separate payment ecosystem to bank transfers. (There are other payment ecosystems). The xRapid product uses XRP as its bridge asset in order to facilitate liquidity for those payment services companies.

Santander started out using xCurrent before xRapid even existed (if memory serves). All xCurrent customers get to decide how they want to configure each of their corridor's liquidity relationships. Often they use some form of synchronized nostro or vostro accounts. But of course these need to be pre-funded or settled after the fact. How that happens is up to the bank. XRP payment paths are as good a solution to pre-funding or settling bi-lateral (two party) accounts as they are for other types of payments. 

I have no specific information regarding the latest on Santander, but It is reasonable to presume that xCurrent banks might decide to use XRP in their flows, without being that effort branded as xRapid. Since the xRapid branding was developed for a different industry.

It turned out that my interpretation was incorrect.

 

You can see their link for the details of their press release. This is still great news for the ecosystem. I still expect Santander to stay on the cutting edge of everything RippleNet is doing. I would not be surprised to see them attempt to "out grow" everyone else in the space on these payments.

[Pablo]

On 3/24/2019 at 3:29 AM, BobWay said:

There is nothing particularly "smart" about most contract. The term was just to contrast with the "dumb" method of making humans interact at every step in a process.

Unfortunately, my extensive research indicates there isn't much contract in "smart contracts" either so I've been using inverted commas for a while myself...

I might be biased because I'm involved in the relevant Working Group but I think Hyperledger is closer to the mark by designating these things as "chaincode". It's not a very catchy name but at some point a suitable taxonomy will emerge to recognise the developing jurisprudence in the space so we can drop the quotes and truly speak of smart contracts.

[ChazzCoin]

@BobWay

What are your thoughts on Tron and Justin Sun?

I know he worked at Ripple and helped expand partnerships globally. Have any interactions with him or were y'all even there at the same time?

[Ryyy20]

Hey @BobWay

Does Ripple integrate its solutions for its customers or are other cloud providers making Ripple solutions available through their own cloud platforms? A few come to mind SAP, Volante, Temenos, Bluezelle, Microsoft etc. The community has definitely speculated on this:

Bluzelle/Temenos:

Volante:

https://www.volantetech.com/news-events/press-releases/volante-technologies-launches-accelerator-for-bank-integration-to-ripple-s-distributed-financial-technology

 

Is cloud+Payments as a Service the future? 

 

[Guest]

https://www.quibi.com

https://www.google.com/amp/s/amp.cnn.com/cnn/2019/03/19/media/meg-whitman-jeffrey-katzenberg-quibi/index.html

Something that can be partnered into the ecosystem? Fastest asset meets fastest full story entertainment platform?

Edited March 27, 2019 by Guest

[Xrptothemoon11]

Hi @BobWay I was wondering if you can comment on any ripple intergration into banking software providers ie Temenos SAP Earthport TAS group etc. Was this a strategy ripple planned or did they think it an easier way into the major banks through the current backend software providers?  Thank for all the time you are taking to educate the community 👍🍺

[XRPHornets]

@BobWay  I have a question about R3 Corda Settler. We know that through their alliance with SBI they intend to use XRP.

Do you know of any plans by R3 to use XRP in the Corda settler for the rest of the world?

 

Thanks in advance.

[VanGogh]

I wonder if anybody in here can offer insight into this stable coin and how it might affect XRP: XDR http://mile.global 

It's aimed at cross boarder remittance, especially for the underbanked, and apparently it's backed by the by the IMF's basket of currencies (SDR). 

Edited March 28, 2019 by VanGogh