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7 minutes ago, codiusrex said:

“Technology Provider:  @Ripple

** Notice The Clearing House is not a technology provider. 

There’s no way the Fed could’ve come up with their new FedNow Service without @Ripple‘s participation in the FPTF for the last several years. 

Pat Thelen is VP of Strategic Accounts at Ripple.  His job is to work with CLIENT (customer) engagement and satisfaction to ensure smooth interface with their services.  If there is a  question or a problem, they call Pat.  Pat gets sh!t done.

Pat is also one of only 3 at-large members.

Seems like he's pretty important.

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25 minutes ago, codiusrex said:

“Technology Provider:  @Ripple

** Notice The Clearing House is not a technology provider. 

There’s no way the Fed could’ve come up with their new FedNow Service without @Ripple‘s participation in the FPTF for the last several years. 

Yes, TCH is actually one of the "Payment Network Operators".

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I totally forgot about this May announcement. Holy ****... if plumbing wasn’t Ripple there would be no reason to include them on this council at all, let alone give them one of three at-large member spots with more voting rights.

I guess there’s a scenario where FedNow isn’t Ripple but they’re being heavily consulted for payments expertise. But then you would give that seat to someone else, right?

Unless they’re looking forward to the cross-border stuff and interoperability...

Trying to find a way to unconvince myself they’re involved in FedNow but coming up short.

EDIT: The Clearing House has been very salty about FedNow on Twitter so they’re definitely not providing the tech.

Edited by ADingoAteMyXRP
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Quote

We are proud of our strong record of cooperating with and supporting private-sector services, while fostering competition for public benefit. We have provided vital support to the sole private-sector provider of real-time settlement for faster payments, and we will continue to do so. The Federal Reserve provided a joint account to enable the private-sector operator to offer real-time payments. 

Taking into account surrounding context, I suspect this actually refers to a current arrangement with The Clearing House.

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20 minutes ago, OzAlphaWolf said:

Taking into account surrounding context, I suspect this actually refers to a current arrangement with The Clearing House.

Which would explain why TCH is upset about FedNow. They’re getting support from the Fed but the Fed is developing a new system anyway.

Edited by ADingoAteMyXRP
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16 minutes ago, XRPboi said:

TCH runs on Ripple tech as well, as far as I can remember 

No, it doesn't. Someone just made that up. He basically said "I believe its ripple, even though I don't have any evidence".

There were 16 proposed solution to the fed for FedNow, the fed even ranked them. TCH and ripple are seperate and not 1 solution:

 

 

 

Edited by Archbob
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13 hours ago, Archbob said:

No, it doesn't. Someone just made that up. He basically said "I believe its ripple, even though I don't have any evidence".

There were 16 proposed solution to the fed for FedNow, the fed even ranked them. TCH and ripple are seperate and not 1 solution:

 

 

 

Just a reminder, this score is from 2016. And the market sentiment has changed from 2017. 

And ripple is the only company that utilizes digital asset with its value coming from the utility. Unlike the other company’s (from the list) asset that is backed by the central authorities. 

Edited by quan
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10 hours ago, Archbob said:

No, it doesn't. Someone just made that up. He basically said "I believe its ripple, even though I don't have any evidence".

There were 16 proposed solution to the fed for FedNow, the fed even ranked them. TCH and ripple are seperate and not 1 solution:

 

 

 

 

You'll so notice nearly all the banks at the end are Ripple customers

 

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