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SamIam

Bob - I could use some help clarifying these claims

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9 hours ago, SamIam said:

P31:

Quote

SWIFT is only a messaging system between banks and settlement systems, such as the Clearing House Interbank Payments System (CHIPS). xVia is the messaging application for RippleNet users that need to send invoices or other information to other users. This is the part of the technology that would compete with the SWIFT network.

This is largely only true for corporates correct? It seems like the "workaround" DS was describing is the use of xVia to bridge xCurrent and xRapid so MG can quote Fiat to Fiat while completing via xRapid.

See my other post on xNaming clarification.

SWIFT runs a financial messaging system that is true. But xVia isn't the messaging system for RippleNet. Instead, each xProduct has an integrated messaging component that assures each financial party agrees to the terms of a transaction before any money moves.

xVia is simply a hosted solution (and API) for business to use in originating payments that move through RippleNet (xCurrent+xRapid).

Every Ripple xProduct allows the sender to specify fiat to (other) fiat payments. Those might be routed fiat/fiat or fiat/xrp/fiat depending on cost.

So technically, RippleNet is integrated Messaging + Settlement. SWIFT is Messaging to be used in conjunction with traditional correspondent banking based settlement.

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11 minutes ago, SamIam said:

asked this question of Alex from Nugget's news and he talked about BTC wrapped in an ETH ERC-20 token. He also talked about another side chain that exchanges will use to allow customers to move BTC between exchanges in something very similar to a payment channel. Of course this will just help whales arbitrage and not allow the privacy claimed, because there is no exit ramp without going through an exchange's KYC/AML choke point.

I find myself without the concentration to watch videos. Which is strange because I seem to have to concentration to read and type an enormous amount of text. :-)

But when faced with discussions like ERC-20 tokens, lightning payment channels and other "novel" ideas, it all seems so 5 years ago to me.

I'll try to watch this tomorrow. I need to get a little sleep now. I hope I was helpful.

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Lol - Exactly what I was thinking when he was describing it to me. Those are issuances! XRP did that from the start! Those are payment channels, XRP has been using those (and they work) for years now. Wow such innovation from the BTC devs! :acute:

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9 hours ago, CT99 said:

@BobWay if @SamIam were to ask would you consider being a guest on his youtube channel "To The Lifeboats"? - Check it out if you haven't already done so, that is one interview I would absolutely love to watch and I'm sure I'm not alone.

We'll definitely do something. Let me get my focus back first though.

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