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What if Ripple makes it's own Private Bank?


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Like above. What if Ripple found their own banking institution? They have the starting capital, that's for sure. Could they? Why? Is that an option, benefits? Dunno, i'm stupido & i'm just thinking about stupid things. Sorry. The ultimate partnership Ripple Bank. :sarcastic:

Edited by K41105
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27 minutes ago, K41105 said:

Like above. What if Ripple found their own banking institution? They have the starting capital, that's for sure. Could they? Why? Is that an option, benefits? Dunno, i'm stupido & i'm just thinking about stupid things. Sorry. The ultimate partnership Ripple Bank. :sarcastic:

They would automatically become a competitor to all banks which makes their missing far more difficult and it's already very difficult.

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1 minute ago, SquaryBone said:

They would automatically become a competitor to all banks which makes their missing far more difficult and it's already very difficult.

Exactly this. The advantage that Ripple has to for example JPM with their JPM coin is they are a third party and not a competitor. Banks will not be very fond of using eachothers coins while XRP is a neutral third party coin that has the ability to connect and bridge all the banks 'walled gardens' with eachother.

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6 minutes ago, Caracappa said:

Exactly this. The advantage that Ripple has to for example JPM with their JPM coin is they are a third party and not a competitor. Banks will not be very fond of using eachothers coins while XRP is a neutral third party coin that has the ability to connect and bridge all the banks 'walled gardens' with eachother.

And one thing I forgot to mention is that it makes the effort to get global reach would be way higher. They would have to set up this bank entity all around the world instead of using an existing network of banks/branches. Right now they're bringing something that could change the future with about 200 or 300 employees? If they would have to create a bank they would need probably thousands of employees so what they currently do is way more efficient approach.

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10 minutes ago, SquaryBone said:

And one thing I forgot to mention is that it makes the effort to get global reach would be way higher. They would have to set up this bank entity all around the world instead of using an existing network of banks/branches. Right now they're bringing something that could change the future with about 200 or 300 employees? If they would have to create a bank they would need probably thousands of employees so what they currently do is way more efficient approach.

Well, I used to work for a bank (now an insurance company). But what could be the benefit of starting from scrath is that you don't need all those people to keep all the legacy systems and huge backoffices in the air. Like Exim bank, if they can smooth out the proces they can run an entire bank with much less hands on working force then a traditional old fashioned one... 

As with the insurance company I work for now. If we could say goodbye to all our clients and start from zero, we could design a much more efficiënt and automated system with only a small portion of the people we have now.

Still, Ripple should not be the one starting it. Let companies such as Exim do that for them!

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I also believe that Ripple should not start a bank. I think David Schwartz and Aurthor Britto started a custody solution company for digital assets. It Ripple did anything I think they should focus on providing solutions to existing banks. Also if Ripple was to start a bank I think it would be a sign that they are having trouble.

Hopefully as commercial banks begin to use xcurrent and xrapid in trials/commerical usage they will utilize their own lobbying groups to pursued legislation. 

Edited by peanut56
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13 minutes ago, peanut56 said:

I also believe that Ripple should not start a bank. I think David Schwartz and Aurthor Britto started a custody solution company for digital assets. It Ripple did anything I think they should focus on providing solutions to existing banks. Also if Ripple was to start a bank I think it would be a sign that they are having trouble.

Hopefully as commercial banks begin to use xcurrent and xrapid in trials/commerical usage they will utilize their own lobbying groups to pursued legislation. 

You could argue Ripple buying into Moneygram was a sign of trouble with adoption.

Edited by Guest
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I've thought about that, and considered that xrp utilization was troublesome. I considered they made a strategic approach to purchase a remmitance company that has been in trouble. If the xrapid solutions works to save moneygram butt in the books, then it will drive adoption. The risk is that within the next two years xrapid isn't shown to be a viable solution for lower the cost of remittance. If moneygram goes on to show a strong improvement after restructuring and xcurrent/xrapid implementation then there will be a lot more interest from competing businesses. Moneygram at one point was a powerhouse with a stock value of near $300 a share. They have the infrastructure in place around the world. We are in a wait and see moment.

I think the moneygram acquisition will either ramp up adoption or stall it for years. We will see.

Should I say go bitcoin?

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30 minutes ago, peanut56 said:

Moneygram at one point was a powerhouse with a stock value of near $300 a share.

MoneyGram (MGI) is indeed almost like binary event where the stock price will go up or down dramatically during the next couple of years. Either Ripple makes MGI great again OR Ripple keeps investing on it over and over until MGI goes to bankrupt or will be eaten by vultures. I regard the stock price of MGI as a leading indicator of success of RippleNet and especially xRapid. I bet there are lots of eyes watching MGI will it make out of its misery or not. Another leading indicator would be XRP volume between the known xRapid currency exchanges.

https://finance.yahoo.com/quote/MGI?p=MGI&.tsrc=fin-srch

image.png.8a65db79975cd45bae720a4562c1c9c5.png

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59 minutes ago, Freaky said:

You could argue Ripple buying into Moneygram was a sign of trouble with adoption.

I must say that I had this very same initial thought after MGI and Ripple deal was announced. Probably because I'm a pessimist by nature. At least we know that Brad's infamous statements about major banks eoy 2018 did not happen. Something went wrong during summer 2018. That alone was a sign of trouble with adoption, unfortunately.

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Ripple would not look to become a bank or financial institution.  It brings too much risk to the table of a software fintech company that already has plenty of regulatory hurdles to clear.

35 minutes ago, hallwaymonitor said:

MoneyGram (MGI) is indeed almost like binary event where the stock price will go up or down dramatically during the next couple of years. Either Ripple makes MGI great again OR Ripple keeps investing on it over and over until MGI goes to bankrupt or will be eaten by vultures. I regard the stock price of MGI as a leading indicator of success of RippleNet and especially xRapid. I bet there are lots of eyes watching MGI will it make out of its misery or not. Another leading indicator would be XRP volume between the known xRapid currency exchanges.

https://finance.yahoo.com/quote/MGI?p=MGI&.tsrc=fin-srch

image.png.8a65db79975cd45bae720a4562c1c9c5.png

This is my sentiment as well.  I bought MGI shares on the rumor and held past the initial dip to find even greater profit after the most recent quarterly statement they provided.  If MGI proves to be a success story for xRapid's effect on a corporate bottom line, then I'd expect many more xRapid announcements over the next 1-2 years.  I don't think any of the future deals will look like the stock option scenario with MGI (that was very unique), but I can see a lot of other companies sprinting to Ripple to get the ball moving on xRapid if the MGI experiment works.

Edited by Zedy44
clarity
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2 hours ago, Caracappa said:

As with the insurance company I work for now. If we could say goodbye to all our clients and start from zero, we could design a much more efficiënt and automated system with only a small portion of the people we have now.

That's the thing: you can design from scratch... that makes it quicker. But still takes a long time to see what works and what doesn't and after designing it you still have to implement it, establish trust and onboard customers. Even if it's a new design you'd still have to implement a lot of stuff and products, ...

The scope just seems so much bigger than their current strategy.

Edited by SquaryBone
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1 hour ago, Zedy44 said:

Ripple would not look to become a bank or financial institution.  It brings too much risk to the table of a software fintech company that already has plenty of regulatory hurdles to clear.

This is my sentiment as well.  I bought MGI shares on the rumor and held past the initial dip to find even greater profit after the most recent quarterly statement they provided.  If MGI proves to be a success story for xRapid's effect on a corporate bottom line, then I'd expect many more xRapid announcements over the next 1-2 years.  I don't think any of the future deals will look like the stock option scenario with MGI (that was very unique), but I can see a lot of other companies sprinting to Ripple to get the ball moving on xRapid if the MGI experiment works.

I share the same sentiment, as I think MG is ground zero for Xrapid proving ground.  My thought is that it's going to take at least a year or two for the MG verdict is out and either the flood gates will open wide or close tightly. I also think crypto which use case is more of a store of value as versus a conduit of transfer will be more susceptible to regulatory scrutiny in the long run.  This is just my opinion and I by no means am saying that XRP price won't run before then but I think this MG venture is the make or break and others are waiting on the fence to see the results.   I would watch for insider signs in the meantime as they will know the success long before it's announced to the public.  What I am saying is I think were a year or two out before information on Xrapid being a success for MoneyGram is publicly communicated with numbers to boot thus causing an institutional and speculative retail surge.

 

Edited by Guest
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6 hours ago, Freaky said:

You could argue Ripple buying into Moneygram was a sign of trouble with adoption.

I had the same exact thought when they announced. If they just would announce that MG will implement it, great. But they paid for implementing it. Probably Ripple hopes when one company starts using it and reaps the benefits the others will (have to) follow (nobody wants to be first).

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