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theGlitchKing

App Question

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I understand there are apps out there like western union, and venmo, but I didn't know if anyone had heard of any app being created leveraging XRapid, and allowing people to send money P2P internationally, and deposit in FIAT currencies?  Or even if something like this is in the works? 

say if I had debit card account in the US, and wanted to send money to a friend in Japan, I could open this app, send them 1000 yen (I think it's yen?) from my US bank account, and have Xrapid do the heavy lifting to deposit in my friends Japanese account? 

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3 hours ago, theGlitchKing said:

I understand there are apps out there like western union, and venmo, but I didn't know if anyone had heard of any app being created leveraging XRapid, and allowing people to send money P2P internationally, and deposit in FIAT currencies?  Or even if something like this is in the works? 

say if I had debit card account in the US, and wanted to send money to a friend in Japan, I could open this app, send them 1000 yen (I think it's yen?) from my US bank account, and have Xrapid do the heavy lifting to deposit in my friends Japanese account? 

xRapid, no. Because that's not available to individuals.

You could create your own partnerships with various exchanges and set this up yourself and it wouldn't be overly hard (apart from the partnership bit).

Depending on your exchange speed (I can have money in my bank from the exchange in less than an hour), you could just both have XRP addresses, send each other XRP, then manually send it to the exchange, sell and withdrawal (manual xRapid essentially).

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55 minutes ago, retryW said:

xRapid, no. Because that's not available to individuals.

You could create your own partnerships with various exchanges and set this up yourself and it wouldn't be overly hard (apart from the partnership bit).

Depending on your exchange speed (I can have money in my bank from the exchange in less than an hour), you could just both have XRP addresses, send each other XRP, then manually send it to the exchange, sell and withdrawal (manual xRapid essentially).

So this wouldn't be able to done in without a larger firm's back end, such as Venmo or WU to get the FIAT currency into the destination account within seconds? 

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3 hours ago, theGlitchKing said:

So this wouldn't be able to done in without a larger firm's back end, such as Venmo or WU to get the FIAT currency into the destination account within seconds? 

Incorrect. You'd need crypto exchanges, eg. Bitstamp and Bitso, to be on-board with it. So that they can have rules in place to stop your funds from being held up from obnoxiously long "processing" times, before the funds are sent to your bank.

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It never made sense (outside of hubris) why WU/Moneygram/etc didn't do exactly just this?  Seems fairly reasonable proposition, and not so capital intensive? They must be concerned of the regulatory status of XRP like banks? I don't know.

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Regulation is going to be the fuse that lights the biggest bull run we have seen in crypto.

Continue to watch other countries government actions and know that the USA is not the only driver.  The USA is also not going to want to be left behind and not leading the financial world.

My wife reminds me, "If you want to know whats going on watch the money"...She also will call out an event or an action that seems out of place or unexpected and when there seems to be no logic she will say " you want to know why?... follow the money trail" - She's a very smart woman.

If you want to know why regulation seems very slow,  follow the money.

p.s. - she's cute too, I'm a lucky man.

 

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share this link 

38 minutes ago, xrphilosophy said:

Looks like WietseWind has built a nice money transfer (payments) app.  How does this thing go viral?  I'm going to use it later today if I can.

go viral.....  share this link with all your social medial accounts with a statement like this:

For all my friends that are business owners or retail sellers,  here is a POS ( Point of Sale) system that will allow your business to accept cyrpto currency XRP asa payment.  here is the apple APP store link to start using it:

https://itunes.apple.com/us/app/xrpayments/id1460119072?ls=1&mt=8

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18 hours ago, theGlitchKing said:

I understand there are apps out there like western union, and venmo, but I didn't know if anyone had heard of any app being created leveraging XRapid, and allowing people to send money P2P internationally, and deposit in FIAT currencies?  Or even if something like this is in the works? 

say if I had debit card account in the US, and wanted to send money to a friend in Japan, I could open this app, send them 1000 yen (I think it's yen?) from my US bank account, and have Xrapid do the heavy lifting to deposit in my friends Japanese account? 

It's not here yet, however, I strongly believe this is where the world is headed.  I firmly believe that sometime in the near future you will be able to leave your home country of Japan with your moneytap app and travel to Spain.  You go to pay for a meal and someone at the restaurant will open their soon to exist PagoFX app.  You will see the requested payment in euro on their screen, you will see how much yen that totals on your screen, accept a confirmation, and payment will be sent with immediate conversion through XRP in the middle.

 

This **** is the ******* future and I have no idea how people don't see it.

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