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handfull of banks upgrading/performing maintenance on their international payments systems together, over the next two days. Could be nothing.....Could be everything


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Totally agreed. None of these folks have ever worked in a technical field before. Maintenance happens constantly.

Were you in crypto when there was maintenance on Swift GPI network and people went mental? All these YTrs every maintenance connencts with Ripple. Do you know why? Because then come people like y

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42 minutes ago, Jerrybo said:

Yeah... they shouldn't. But too often the really important work of the maintenance team at core systems are performed by one or two guys. These are the guys who unterstand the system for years with its complicated interfaces to other systems.

I think the risks just don't legitimate the possible gains for such a plan. As a financial institution you want to take as few risks for your core system as needed. That's one of the reasons they often look "lazy" with with new technologies.

I don’t think I could be so lucky that these banks all fire up XRP this weekend.  

But just to offer an opposing argument to your “too risky” theory...    Unless you are hospitalised,  if you ARE one of those important guys you won’t be “sick that weekend”.  Also even if you are,  there is always a number of folk who can step in.

Lastly,  a big system change has a pre-ordained set of tasks that is well planned, well tested,  and a monkey could nearly follow the implementation plan.  Things do go wrong,  but there will not be just one person who can troubleshoot.  Also if it goes completely pear-shaped there is a go/no go point after which the thing will be backed out or just not implemented.  If that then means that the Royal Bank of Submarineland won’t be implementing this weekend...    then it won’t break all the other ones.

So essentially I’m saying that I doubt this is as big as I secretly hope it is but the “too risky” concept is definitely not the reason why.

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10 minutes ago, Tinyaccount said:

I don’t think I could be so lucky that these banks all fire up XRP this weekend.  

But just to offer an opposing argument to your “too risky” theory...    Unless you are hospitalised,  if you ARE one of those important guys you won’t be “sick that weekend”.  Also even if you are,  there is always a number of folk who can step in.

Lastly,  a big system change has a pre-ordained set of tasks that is well planned, well tested,  and a monkey could nearly follow the implementation plan.  Things do go wrong,  but there will not be just one person who can troubleshoot.  Also if it goes completely pear-shaped there is a go/no go point after which the thing will be backed out or just not implemented.  If that then means that the Royal Bank of Submarineland won’t be implementing this weekend...    then it won’t break all the other ones.

So essentially I’m saying that I doubt this is as big as I secretly hope it is but the “too risky” concept is definitely not the reason why.

I respect your opinion, but my experiences with financial institutions are different. A lot of their effort is about reducing risks. More than once I needed to be inhouse at maintenance windows just to be ready there "for the case". The banks additional costs for that wasn't even a topic.

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13 minutes ago, Jerrybo said:

I respect your opinion, but my experiences with financial institutions are different. A lot of their effort is about reducing risks. More than once I needed to be inhouse at maintenance windows just to be ready there "for the case". The banks additional costs for that wasn't even a topic.

Absolutely they don’t want risks...  my experience agrees.  I also have many times been there just in case.  But the facts are against you I’m afraid...  all these banks actually ARE doing something this weekend.  They obviously don’t think it’s too risky.

It could be nothing other than a random coincidental bunch of banks doing an ordinary maintenance release. ( Or it could be what we hope but don’t say out loud.  :) )

But even if it was a Ripple XRP Big Bang (don’t get my hopes up...) that’s not inordinately risky for any individual bank.  They can each go or not go and they will all be fine on Monday no matter what...   they either implemented or backed out.  The contingency planning has it covered.  Either way they are fine.  They ALWAYS have a fallback option.

[Edit:   I should clarify...  sometimes being there is just being available with remote access...   maybe really big things you actually are there physically,  but often it’s just a on-call thing.  So when I think about it I haven’t been on site,  just in case,  more than a couple of times.  All the rest were not just in case but because I needed to do stuff or I was at home remotely accessing or “on call”.  Thought I should clarify....]

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Clarified my clarification... the true mark of a pedantic idiot... :)
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1 hour ago, Jerrybo said:

I respect your opinion, but my experiences with financial institutions are different. A lot of their effort is about reducing risks. More than once I needed to be inhouse at maintenance windows just to be ready there "for the case". The banks additional costs for that wasn't even a topic.

I think that you are both right as either approach is used, in my experience of doing such projects for 30 years. Some times a project is implemented  in small chunks over several weeks or months, even years. This gives everyone a warm feeling that the small steps can be backed out more quickly.

other times a change just has to be done big bang, such are the implications of not doing so.

For financial institutions I find that mostly (or maybe just ‘often’ is the better word), the original system is left online and either there to fall back on, or carries on in service, while staff and management gain confidence in the new system and slowly move the work load over to the new system.

Depends on many factors which approach to take

 

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1 minute ago, XRPforLong said:

Apparently July 7th is the deadline for some ISO update. That seems most likely and nothing XRP related?

Yes I’ve had that thought (that it could be some sort of protocol deadline) in the back of my mind since I first heard of this (but am stubbornly trying to keep it down there...   :) )

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