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


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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."

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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

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