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Panosmek

SWIFT: Copying Ripple since 2014

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all great ideas are copied or at least tried to be copied in order to bring down the competition. When we think of the telephone, Bell instantly comes to mind as its inventor in 1876, but it was actually antonio meucci 15 years prior who created a working phone. the only reason we dont know about meucci was because he died before his lawsuit was won.

ripple's most important job is to stay ahead of the competition.

great find ^_^

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10 hours ago, Hodor said:

This caveat is so brutal:

 

Same_Day.jpg.7789175e105b01ddc3b099373ec89b03.jpg

It's about as impressive as a magician saying "as long as you tell me what card you saw, I will tell what it is at the end of this trick!" 

If that magician had a name... The Great Swiftini?  :JC_thinking:

Never thought about this, but I wonder if time zones create some legal issues because in some jurisdictions (like the US?) Banks, Exchanges, and others have to "settle" net-trades/flow by midnight... or whatever it is, there is always a time limit.

Taking this "time limit" towards real time, will surely have ramifications for many periodic financial services. 

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1 hour ago, KarmaCoverage said:

Never thought about this, but I wonder if time zones create some legal issues because in some jurisdictions (like the US?) Banks, Exchanges, and others have to "settle" net-trades/flow by midnight... or whatever it is, there is always a time limit.

Taking this "time limit" towards real time, will surely have ramifications for many periodic financial services. 

That sounds like an engineering person has just discovered that there are not only a couple of big gatekeepers making money on fees, but also people making money on float.

Don't take that the wrong way - it's an important insight to have - and it's not the first time anyone (even on this forum) has made that realization (I remember an old metaphor running around, maybe even by you?, about "the market for float") - and just because there are incumbents and it's not a "greenfield" - it's not insurmountable - as an obstacle - indeed, it's one of those "this giant inefficiency = huge opportunity" types of things...  Always good to see people re-realizing stuff like that;  that's the key to iterating solutions.

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Posted (edited)
27 minutes ago, NightJanitor said:

"the market for float"

Yeah,  there was that 2015 video of Patrick describing what amounts to a platform for routing international liquidity via a specifically designed 2 sided market. The crazy thing with ILP was the abstraction/taking away of Pathfinding functionality.

If configured in the right way, the Rippled Pathfinding functionality can be deployed in many financial markets.

27 minutes ago, NightJanitor said:

gatekeepers making money on fees

Fees are due on or before a specific time. Taxes also. This is convenient for financial modeling, because it gives you discrete cashflow streams, on a consistent time scale.

I f$$$ed up a calculation once, and it cost me $30k. I added it up to "7% per year"...but that was 7% per month (monthly cashflow stream needed to be multiplied by 12) and before extra fees. APR ended up just a hair under 80%/year.

Always have someone double check your math/model.

Edited by KarmaCoverage

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21 minutes ago, KarmaCoverage said:

Yeah,  there was that 2015 video of Patrick describing what amounts to a platform for routing international liquidity via a specifically designed 2 sided market. The crazy thing with ILP was the abstraction/taking away of Pathfinding functionality.

If configured in the right way, the Rippled Pathfinding functionality can be deployed in many financial markets.

Huh... I went searching for the thread, but couldn't find it using the default search... however, if you type in the word "genies" (huh!), it does come up, but no video.

 

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