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Jerryvhall1

Answer: Built in exchange, Ripple, XRP ledger

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Posted (edited)

Bob, this demo is what has sparked my interest and has been the basis for the foundation of the business model I am exploring. My first question is this wallet / functionality still accessible?? 

 

Edited by BobWay

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So it turns out that all that functionality still works. And it is the reason I came out of hiding. I'd like to teach everyone how that works, and also how they might apply those features to solve their own problems using the XRP Ledger.

The web client Chris demonstrated has been discontinued as a publicly available service, but the source code is still available on GitHub. There was a subsequent version of that client that was designed for downloading to your desktop computers. I used a version of that when I sent my payment from my ~bob address in my introduction thread. The one I used was modified by the former gateway Rippex, who simplified some naming and fixed a few bugs.

But in reality, that demonstration could be performed today using any full featured XRP Ledger client. I'm personally going to be exploring this thread today in order to determine what I think of as the best client for doing some demonstrations like Chris did. Thank you everyone who has contributed to the wallet thread so far!

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Posted (edited)

So if want I really wanted as an end product was a math equation it would look like this. The currency exchange product ( A ) + software that connects to my bank ( B ) = having access to global value chains in real time ( C ).

A + B = C

Or could the ledger exchange wallet become my bank, with connectors/ plugin's / ??? that allow me access payment methods like online banking, visa mastercard etc. ??

Edited by Jerryvhall1

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6 minutes ago, Jerryvhall1 said:

So if want I really wanted as an end product was a math equation it would look like this. The currency exchange product ( A ) + software that connects to my bank ( B ) = having access to global value chains in real time ( C ).

A + B = C

Or could the ledger exchange wallet become my bank, with connectors/ plugin's / ??? that allow me access payment methods like online banking, visa mastercard etc. ??

Actually, both.

It is very useful to integrate existing financial institutions (like the banks you mentioned) with the XRP Ledger. It give you some great features like, additional customer privacy. It also scales very well, to millions or billions of users.

But you can do the same thing by allowing customers to create on-ledger wallets (entities) as well. This can be more costly, because of the XRP account and trust line reserves. But it can also be much more flexible and empowering for savvy customers.

So as with most things in the XRPL and Ripple ecosystems, there are multiple ways to solve any problem. The way you choose depends on the specific details of the solution that are most important to your target users.

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Bob, so I have the concept, there is knowledgeable technology experience and a platform to educate others. How about an demo? 

Step by step, lets use off the self stuff to put it together. Would the below be an appropriate first 1st step? 

1. create a wallet ( create the online identity ) I have chosen toast wallet for this example - Done

 

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Posted (edited)

Good first step.

I actually have some old training material I've used over the years. I'm looking for a good way to step though that with people. What I most want to demonstrate to people are the features of the XRP Ledger that are not XRP, since everyone is already familiar with what makes XRP by itself awesome. What most people don't seem to know is how all of the other features make XRP even better.

But for everyone to do the demos I want to do, I need to figure out a good, modern full featured client. One that supports more than just XRP payments. (I don't know the feature set of "Toast" specifically). I'll list the client features I'm looking for in the "wallet thread". So we don't start that discussion here.

I suspect most people here already have one on-ledger ripple address, since they are XRP HODLers. it is possible to use that same wallet in the demo's that I'd like to do, but it might "out" how much XRP each person holds to others on our group.

Since the XRP Ledger account reserves are so high (20 XRP) and so are the trust line and offer reserves (5 XRP), it might be better to do our demonstrations on the test net. That would allow more people to participate for free, and also protect their privacy a bit. The only drawback of this, is that some of the viewing tools everyone is used to may not be able to view test net accounts and transactions.

But we'll cross that bridge when we come to it. 

Edited by BobWay

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9 hours ago, Jerryvhall1 said:

Bob, I know you have been very busy - I need some advise, the github link https://github.com/ripple/ripple-client is like trying to read french. Am I playing in a pool that is too deep for me??

I would try building one of these instead. They result in a desktop application you can run on your local machine.

The second one has a couple of fixes and renamings that I prefer. I have a built Mac version, but don't have a windows one.

If you are having trouble building it. There must be a Node.js developer in the community that could help out. I could take a crack at it, but my machine isn't setup for development at the moment.

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