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My bank called Simplii has no idea about XRP


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@iLeeT Why do you think asking banks if they use XRP does more harm than good?
If their bank refuses to use XRP but their customers are asking for it, isn't that how things are done in capitalism? If the customers all ask for it, isn't that what will drive them to change?

I feel like all XRP holders should ask their banks about XRP. That's probably the best way to shake them and realize what is needed.

 

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11 hours ago, MistaPrime said:

I got an email from my bank saying: "Sending money abroad just got a whole lot easier."

Here is the screenshot:
ZoW82B.thumb.png.4c8907d9b505bbee8f6bd6c8041ab55b.png

My first thought was "waw they are finally on Ripplenet" !

So I emailed them at GMT@simplii.com and here is the conversation:


How does it work when you send money abroad?
Does that someone have to have a Simplii account abroad?

I would be interested to use the service only if you are using blockchain technologies such as the one made by Ripple (XRP).

Thanks,

They replied:
 


We support all banks all over the world irrespective of what bank the recipient hold. The service is actually faster than a conventional wire and we do not use blockchain technologies like XRP.  We have built a proprietary network that allows for transfer of funds within hours .

Please let us know if you have any questions.

Regards

GMT Specialist

I replied saying:
 


Hi,
What is this proprietary network? Is it using SWIFT ?
Thanks,

They replied:
 


Hi,

It is not using swift, but we have built local connections to each of the banks in the 75+ supported countries. It is faster than swift and more reliable and faster than blockchain system as well

I replied:


Hello,

The system built using Ripplenet (XRP) takes about 3 seconds. It actually takes care of settlement, I doubt your system is better than blockchain because it still takes hours.
You are probably still using the outdated nostro-vostro accounts to exchange funds. There is a better way, it is called Ripplenet.

Any chance that Simplii will be part of Ripplenet?

Thanks,

They replied:


For now Simplii will not be using Ripplenet but should that be an option in the future we will definitely consider it.

Let me know if there are any questions in specific you would like me to answer


That's it for the conversation right now.  
Anyone else surprised by the fact that they are building a system and they think it is more reliable and faster than blockchain?

What should I reply to them?

The reality is many solutions exist. Not everyone is going to use RippleNet. There will always be those that refuse to see things the way you do. Give them time to discover what RippleNet is. You've planted the seed and they obviously know about xRapid. That's where I would leave it. 

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16 hours ago, iLeeT said:

This is not xRapid. xRapid is a software product and the development started in 2017.

What other software product that Ripple offers uses XRP sir? 12 months to build a commercially viable software for financial institutions (whithout anybody testing it)? It could not have been X-Current because back then the sole use was strictly for 24/7 instant messaging (Wheras the new 4.0 version allows for the use of XRP). I believe this was a strategic play to expose banks to the innovation of Ripplenet without the exposure to the temporarily unregulated digital asset; they are still able to save 30-40%+ in operating costs, and able to greatly improve upon the outdated SWIFT system; the final phase will occur when global regulation is set in place....Which would allow for the use of regulated digital assets, which allows for the use of X-Rapid/X-Current 4.0, therefore increasing the potential cost reduction to 40-70%. Imagine owning a business and being able to reduce your costs by 70%......This would give you a massive competitive advantage over your competitors. I am not the only one seeing this inevitable domino effect unfolding. 

1) Explain how it works to the Canadian Government

2) Test , Onboard customers, Build Liquidity.

3) Global Adoption

Crawl>Walk>Run

All software generally goes through an "Alpha" and a "Beta" testing phase prior to commercial availability. Yes we can agree it was not LIVE or available for commercial use in 2016, but to say they were not testing X-Rapid in one form or another is false. Check out "rppl.info" for a well made spreadsheet that has all of the info pertaining to clients testing, and confirmed partners. Every single major bank in Canada can be found there. Lets not forget Cory Johnson's deleted last year Shaking hands with with Prime Minister Trudeau at SWELL  "I'll say it again: This Matters..."

CJ_JT_Swell 2018.JPG

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@Skylerbigs you don't have to 'offer' a product so that people experiment with XRP and take advantage of XRPL.

xRapid is just an abstraction making it easier to take an advantage of the XRPL. What you've quoted previously has nothing to do with xRapid or its workflow.

Thanks for letting me know that a software goes through a beta testing phase sir.

Edited by iLeeT
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I sent an email to Ripple to see what they would say on this. Here is a reply form Ripple support:

Quote

 

Hi,

It is likely they have arrangements with partner banks in various countries. It seems like they may have simply integrated the APIs at each of those banks into their own systems to facilitate payouts in each country. This is great, but means that they now have to support 75 different API schemes that can change at any time.

Regards,
Ripple Support

 

 

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