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"Level the playing field" - Treasury Secretary Steve Mnuchin


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On 7/15/2019 at 9:41 PM, aye-epp said:

oh I would argue quite the opposite.  from someone who has followed this forum for awhile, it's the far reaching conspiracy theories that everything in the world must be subliminally xrp news has damaged people here (and the community as a whole)

I watched the entire Mnuchin PR and nothing grabbed my attention re:XRP

This x1000. 

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4 hours ago, ringer2 said:

This x1000. 

I haven't listened to it yet, but I wouldn't expect a treasury sectary to say anything about how private banks make international payments. His focus would be on the domestic financial systems. 

I'd expect them to be discussing something like using distributed ledger technology for domestic interbank settlement, money laundering, and counterfeiting.

As all the Central Banks get their RTGS systems live, it creates an environment where a digital bridge asset like XRP can thrive, and gain competitive advantage over traditional correspondent banking methods of moving international payments. 

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23 hours ago, KarmaCoverage said:

I haven't listened to it yet, but I wouldn't expect a treasury sectary to say anything about how private banks make international payments. His focus would be on the domestic financial systems. 

I'd expect them to be discussing something like using distributed ledger technology for domestic interbank settlement, money laundering, and counterfeiting.

As all the Central Banks get their RTGS systems live, it creates an environment where a digital bridge asset like XRP can thrive, and gain competitive advantage over traditional correspondent banking methods of moving international payments. 

 

Bob Way Central Banks.jpg

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@XRPboi yes, Bob is talking about the same environmental change that I was.

I'd think that the central banks would want to get their domestic RTGS systems operational first. Then focus more on transactions with other central banks. 

Most central banks have had 2020 as the target date for their RTGS implementations your live. Most have already been working on RTGS for, 5-7 years.

XRP has the best potential to "create value" (ie, reduce friction, time, & both TX cost, and float cost) in an enviroment with ubiquitous RTGS systems that need to be networked together. XRP's value will be correlated to, how much value creation it can accomplish. 

Edited by KarmaCoverage
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34 minutes ago, KarmaCoverage said:

@XRPboi yes, Bob is talking about the same environmental change that I was.

I'd think that the central banks would want to get their domestic RTGS systems operational first. Then focus more on transactions with other central banks. 

Most central banks have had 2020 as the target date for their RTGS implementations your live. Most have already been working on RTGS for, 5-7 years.

XRP has the best potential to "create value" (ie, reduce friction, time, & both TX cost, and float cost) in an enviroment with ubiquitous RTGS systems that need to be networked together. XRP's value will be correlated to, how much value creation it can accomplish. 

At 1:09 Powell has 2021: https://www.c-span.org/video/?c4806490/fed-failing-outdo-bitcoin-5-years

Which I've been thinking about XRP price. Does it make sense to have a faster payment system based on a bridge asset with trillions in liquidity already and a much higher XRP price or is it chicken egg? Can XRP have trillions in liquidity without the system up and running first?

Edited by Guest
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43 minutes ago, SevenBees said:

At 1:09 Powell has 2021: https://www.c-span.org/video/?c4806490/fed-failing-outdo-bitcoin-5-years

Which I've been thinking about XRP price. Does it make sense to have a faster payment system based on a bridge asset with trillions in liquidity already and a much higher XRP price or is it chicken egg? Can XRP have trillions in liquidity without the system up and running first?

I've thought about this question before.

How much liquid value does XRP need to have, to serve 100% of the global international payment flows? 

Start with the $x trillion "locked up" in nostro acts, then consider inventory turnover cycle times being drastically improved (less time).

Once you answer that 100% number, then you can reduce it to actual market share.

Once you get that number, it may be interesting to see XRP value

Then I would consider a growth rate in global payment flows, say 2% existing growth + 1% for boost in economic activity due to reduced transaction costs & time.

So say 3% (I'm making this up out of thin air, it is the methodology that matters), then extrapolate that into some sort of XRP demand growth trendline. 

Then you can consider other market forces, like speculation and resistance to adoption by incumbent players.

Obviously nobody knows, but it would be a fun exercise.

D

Edit: Great video btw.

Edited by KarmaCoverage
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