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Will FedNow settle using XRP?

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58 minutes ago, Tinyaccount said:

I think that there might be a role for XRP or some other DA in intra-country payments.  

Not because the existing is a fail but rather because of micropayments.  Micropayments create opportunities that existing payment systems do not allow.  There will be a whole new sector of the economy created by those opportunities in my opinion.

If that is true then there IS a role for XRP or some other asset in the faster payments regime.

I agree; micropayments will require that we digitalised our national currencies.  XRP will be the token that makes it possible to integrate micropayment economies to flow/integrate with each other across borders.  In this scenario 100 billion XRP really looks too few.

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Well that was a kick to the junk. I was hoping XRP was the engine behind the FEDNOW service. Now that brings us back to a No answer or... Future speculation, which sucks. XRP is one of these utilities that has potential but just isn't being rolled out or considered on a large scale. Can it be because US regulation just hasn't caught up? Honestly if I was steering the Ripple ship, I would have packed up ages ago and moved the HQ to a country that provides Digital Asset clarity. I'm surprised how patient Ripple has been with the entire USA. USD should already be tokenized, send it down the ILP using XRP to convert it back to USD. Point to point no middle man. Should be cheaper when sending large sums.

The problem with these Digital assets is no one wants to use them. Alone they are fast as lightening but the minute they involve FIAT the entire system reverts to legacy problems. Going from fiat to digital asset or digital asset to fiat. Until Fiat truly becomes tokenized the system is useless.

Edited by Scout

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11 hours ago, Tinyaccount said:

I think that there might be a role for XRP or some other DA in intra-country payments.  

Not because the existing is a fail but rather because of micropayments.  Micropayments create opportunities that existing payment systems do not allow.  There will be a whole new sector of the economy created by those opportunities in my opinion.

If that is true then there IS a role for XRP or some other asset in the faster payments regime.

I agree. Even the financial institutions that are located in the US are built on a trust system. It's just easier to trust those that are also internal to the US than it is to a foreign banking system. Plus, the internal banking system is all backed by FDIC insurance, which makes it easier to trust. 

XRP offers additional security, limits the need for trust and insurance, and increases actual transaction speeds substantially. 

I believe that the micropayments sector will likely be the initial reason for internal transactions on a digital ledger, but will eventually lead into the movement of larger payments internally.  

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6 hours ago, Scout said:

Well that was a kick to the junk. I was hoping XRP was the engine behind the FEDNOW service. Now that brings us back to a No answer or... Future speculation, which sucks. XRP is one of these utilities that has potential but just isn't being rolled out or considered on a large scale. Can it be because US regulation just hasn't caught up? Honestly if I was steering the Ripple ship, I would have packed up ages ago and moved the HQ to a country that provides Digital Asset clarity. I'm surprised how patient Ripple has been with the entire USA. USD should already be tokenized, send it down the ILP using XRP to convert it back to USD. Point to point no middle man. Should be cheaper when sending large sums.

The problem with these Digital assets is no one wants to use them. Alone they are fast as lightening but the minute they involve FIAT the entire system reverts to legacy problems. Going from fiat to digital asset or digital asset to fiat. Until Fiat truly becomes tokenized the system is useless.

A bit to negative my friend. If FEDNOW decides to use Ripplenet (Xcurrent) then the groudwork is present for Xrapid. Personally I believe they will use Ripple DLT tech and XRP for international settlement. It is the smooth route of 'least resistance'.

US regulation is decided upon by the FED (together with the American Bankers Association). They are and have been in control for ages. The SEC is what I call their 'paper (regulation) tiger'.

If the FED (together with ABA Payments) says they are are going to do something, then they will. And they have said that this year (2019) a major step will be taken. So wait and see.

Some banks are still uncomfortable holding XRP but that is changing rapidly if you see the amounts of XRP (from escrow) being distributed. XRP is used for settlement as we speak so your statement "The problem with these Digital assets is no one wants to use them." is simply not true.  The legacy pay & settlement systems are getting by-passed more and more.

The whole international pay/settlement system is in a state of change. With the yesterday news of Moneygram - Visa partnership in providing a debit card P2P service the writing is on the wall. Other smaller remittance players (local banks who are going to loose business) will not want to be left behind,

Edited by cryptoxrp

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