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Chat: Most of you are amazed at what Ripple is doing, but you are looking at it wrong.

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5 hours ago, SomeGuyXRP said:

Speaking of ideas, I just had one pop into my head after I read this! I work as a mental health therapist and I'm currently working on building an integrated healing center with my wife and best friend (also mental health therapists). Think of it like a mental health spa, where we'd have licensed clinical therapists, massage therapists, yoga teachers, art therapy, meditation and mindfulness retreats, guided journeys, plant medicines(www.maps.org), etc. Like a YMCA but really centered around mental health.

Anyone could come and use one of our services a la carte, like just pay for a massage, a workshop, or a yoga class, but ideally I'd like people to come and just spend time onsite as all of our services compliment eachother. People could spend time exploring whatever they're feeling pulled to. Hang for 30 min or hang all day! Go for a walk in the woods with your therapist and then drop in a workshop or class on your way out.

That model doesn't work under our current medical billing structure, as I can't bill peoples insurance so that they can hang out for random amounts of time. Everything is structured in a way that prevents full integration. Insurance in general is a mess to deal with and self pay is prohibitive for vulnerable populations. Accessibility is very important to me as my clinical background began as a social worker. I have people on my caseload that I see for free because they cannot afford services.

But I just thought of how COIL can stream payments for attention. I dunno how this would work outside of a browser integration, maybe it could be something like checking in at the front desk and starting the stream and checking out to stop stream. Then you could just hang and leave whenever we're no longer "holding your attention". This model could be transferable to any service industry where we deal with intangibles like therapy(I'm not giving them a product they walk away with, moreso I'm selling a vibe they take with them into life.)

Does this sound feesable? Could I be next in line for xSpring??? Do I need to patent this quick? Lol

I know nothing regarding patents, but this might be in order.  I've also been thinking about streaming payment applications in healthcare.  But my epiphany came when my PCP of 20 years switched his practice to concierge medicine (for many reasons but mostly inadequate reimbursement issues).  To his continuing regret, he lost many patients who did not have the ability to pay the upfront $1500 annual cost for the service.  A streaming model would have made that unnecessary and completely changed his practice model.  He had never even heard of XRP or cryptocurrency, and when we discussed how COIL could work to disrupt many industries, he was completely awestruck at the possibilities.

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I haven't laid the foundation for this, but there is crazy good use case for the Ripple Ledgers actual rippling features. It is really trivial to create a modified LETS or social credit arrangement to help here.

It takes your practitioners being collaborative with how they view each other's "value". And it sounds like they already are. I'm speculating out of my depth of knowledge, but I can visualize some examples based on what you said. Please tell me if I'm way off base.

I presume, many people might WANT to come in for a massage. But really NEED to come in for therapy. I also suppose the things that a patient might want are not necessarily the things the insurance is required to pay for, massages. On the other hand, the needed therapy might be paid for, but people are reluctant to go for (reasons).

So you can encourage them to do both, then split the money in some mutually agreed fair way. So the Ripple ledger can account for dollars and other types of value as well. What you need to account for publicly among your practitioners, 1) overall how much money came into the spa, 2) how much of that each practitioner is entitled to.

You can do that on the XRPL or with streaming payments or combined the two. You might receive money in bulk from insurance companies. But instead of weekly paychecks, providers could just stream out what they need for immediately without waiting until the end of the week.

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1 hour ago, BobWay said:

I haven't laid the foundation for this, but there is crazy good use case for the Ripple Ledgers actual rippling features. It is really trivial to create a modified LETS or social credit arrangement to help here.

By social credit, are you referring to something like China's Social Credit Score. I hope that never gets popular lol. 

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4 hours ago, zerp4eva said:

I know nothing regarding patents, but this might be in order.  I've also been thinking about streaming payment applications in healthcare.  But my epiphany came when my PCP of 20 years switched his practice to concierge medicine (for many reasons but mostly inadequate reimbursement issues).  To his continuing regret, he lost many patients who did not have the ability to pay the upfront $1500 annual cost for the service.  A streaming model would have made that unnecessary and completely changed his practice model.  He had never even heard of XRP or cryptocurrency, and when we discussed how COIL could work to disrupt many industries, he was completely awestruck at the possibilities.

My wicked idea for streaming payments is car insurance

Linking time and place (GPS) in the car to insurance payments (and even ownership).  My wife dries her car twice a year and has to pay annual insurance, her car insurance should should be linked to her car usage.   And why buy a car, surely we should hire the car we need (big or small) when we need it and then pay according to usage. 

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1 hour ago, liquid153 said:

By social credit, are you referring to something like China's Social Credit Score. I hope that never gets popular lol. 

No, he's talking about the original "Ripple" idea where people just track how much money they owe each other (in whatever denominations) and use those to pay their debts rather than exchanging physical assets or centrally-issued (digital or otherwise) notes.

A core idea behind Ryan Fugger's "Ripple" was that you could net out a bunch of these payments with powerful computer system. The Ripple (now XRP) ledger built on top of this with the idea that if there was a generic token in the system, you could use that to automatically bridge all the gaps in credit.

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21 minutes ago, mDuo13 said:

No, he's talking about the original "Ripple" idea where people just track how much money they owe each other (in whatever denominations) and use those to pay their debts rather than exchanging physical assets or centrally-issued (digital or otherwise) notes.

A core idea behind Ryan Fugger's "Ripple" was that you could net out a bunch of these payments with powerful computer system. The Ripple (now XRP) ledger built on top of this with the idea that if there was a generic token in the system, you could use that to automatically bridge all the gaps in credit.

Holy Crap! @mDuo13 in the house!  Man have I been missing you!

Very well said!  Hopefully you'll help be bring this under control.

Edited by BobWay

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1 hour ago, mDuo13 said:

No, he's talking about the original "Ripple" idea where people just track how much money they owe each other (in whatever denominations) and use those to pay their debts rather than exchanging physical assets or centrally-issued (digital or otherwise) notes.

A core idea behind Ryan Fugger's "Ripple" was that you could net out a bunch of these payments with powerful computer system. The Ripple (now XRP) ledger built on top of this with the idea that if there was a generic token in the system, you could use that to automatically bridge all the gaps in credit.

That's why no one can build things like this alone.

 

It takes the union and harmony of individuals to work together to build these types of systems.

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10 hours ago, mDuo13 said:

No, he's talking about the original "Ripple" idea where people just track how much money they owe each other (in whatever denominations) and use those to pay their debts rather than exchanging physical assets or centrally-issued (digital or otherwise) notes.

A core idea behind Ryan Fugger's "Ripple" was that you could net out a bunch of these payments with powerful computer system. The Ripple (now XRP) ledger built on top of this with the idea that if there was a generic token in the system, you could use that to automatically bridge all the gaps in credit.

This is how the TransferWise model works for “international transfers” they don’t actually move any assets physically across borders at all.

@BobWay was anyone from Ripple involved in the inception of TransferWise and took that initial thinking with them?

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7 hours ago, NorthLane said:

This is how the TransferWise model works for “international transfers” they don’t actually move any assets physically across borders at all.

@BobWay was anyone from Ripple involved in the inception of TransferWise and took that initial thinking with them?

I personally talked to a lot of money transfer companies in the early days. I won't name them specifically, but the Pre-Validation protocol started by analyzing what the system would need to connect two payment providers together to create the union of their two networks.

It was trivial to do all their funds tracking and liquidity pricing on the XRP Ledger. It still is. That includes automatic netting, internal FX, external FX providers, and connection multiple payment services together as bi-direction (sending and receiving) end points in a single coherent network.

What was hard was complying with with Know Your Customer (KYC) and Anti Money Laundering (AML) laws. So that was the first add on we built.

---

It is really interesting to realize that, in payments, money rarely moves across borders. If Alice sends a payment from the US to Europe. Alice's USD ends up in the hands of some other US entity in most cases. The EUR delivered to Bob, came from an entity that was already in Europe at the time Alice started. It's magic!

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