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denverks

Swift Document - How GPI, Corda & XRP can work together

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Posted (edited)

Good find! I think some people miss the point there does not have to be a Ripple - Swift collaboration for SWIFT to utilize XRP.  XRP is decentralized and independent of Ripple.  We get caught up in emotions to much in regards to this relationship..  Ultimately maybe there might be one and maybe not but Swifts use of XRP if they so choose doesn't have to come attached with a ripple partnership.  XRP is for anyone who wants to source liquidity in a fast, efficient, low cost manner.  To take full advantage of the tools made specifically for XRP yeah a collaboration of some sort would gain you that but the way this space is growing I'm sure more and more tools outside of Ripples tools will come about that push the envelope with XRP

Edited by RikkiTikki

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Posted (edited)

This points to increasing interoperability in payment systems, so it's a great thing longterm...

But the slide does say "The gpi Link does not enable XRP or any crypto currency settlement." So Swift banks cannot transact in XRP right now.

Effectively, what it's doing is allow R3's network of banks to choose Swift as one of three options for settlement. The slowest option, sure, but at the moment it will probably be used most often. Corporates who use Corda (R3 customers) can transact XRP directly using Corda, but that would require both corporates in the exchange to hold XRP since Corda is not a tool that allows xRapid style conversion (that I know of).

Edited by ADingoAteMyXRP

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