Jump to content
fiik

Ripple: India’s Largest IT Provider, TATA Consultancy Services, Just Revealed Using RippleNet For Its Remittance Services

Recommended Posts

7 minutes ago, Chris_Reeves said:

I cannot find anything that proves that they JOINED RippleNet. It's mentioned along with Hyperledger, Ethereum and R3's Corda.

after a quick search i found this tweet linked on their homepage (scroll down to social media"

https://www.tcs.com/bancs

 

and this is from the PDF linked in above article

"Cross border remittances leveraging DLT based ecosystems

The Quartz Cross Border Remittances solution enables banks/payments systems to connect to newer DLT based payment infrastructures (like RippleNet) for processing of Cross border FX remittance transactions. The Quartz Gateway seamlessly connects the TCS BaNCS Payments system to the blockchain based Payments platform using APIs, and supports services related to FX Quote finalization and debit/credit of beneficiary accounts. Leveraging this approach, existing/core systems operational at banks/ other payment institutions need not undergo changes in connecting to the blockchain platform, as this complexity is absorbed by the Quartz Gateway."

Share this post


Link to post
Share on other sites
43 minutes ago, Simoun said:

 

@Chris_Reeves, Ripplenet is one of the options for integrating the necessary DLT solution to Quartz.  The reference is not merely obiter dicta.

I'd need slightly more evidence to validate that they are truly utilizing RippleNet. Mentioning it is nice but doesn't validate anything.

Share this post


Link to post
Share on other sites
Posted (edited)

i think the idea is that they are (as they quote themselves) ENABLERS of pathways into DLT like ripplenet, that doesnt mean quartz clients WILL use it

it must remain optional for clients because payments are complex and no one wants to / can be blindly forced into one product/network

the way ripplenet will see uptake is by being better than the competition; clients will try it, hopefully see it's better, and use it more (creating a snowball effect)

it's like an IT service co. installing MS Office... sure the users might not use MS Word over their current offering, but you know... if it's good, and it's available, they probably will -- and the more who do the stronger the network affect (e.g. DOC becomes a standard, etc)

that's my bad XRP analogy

Edited by zerpdigger

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now

×
×
  • Create New...