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JannaOneTrick

GuildOne - Blockchain in Energy - 9/9/2019 - R3 Corda Settler - AWS & R3 partner

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R3 and GuildOne Announce Inclusion of Manual Settlement on Corda Settler | Update will allow users of #EBX, which is built on #Corda, to settle #oilandgas royalty & joint venture transactions using traditional payment methods.

Looks like they are using swift gpi, to settle the transactions, not xrp.

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As I understand that article from GuildOne web page, it looks like they are extending the Corda network by offline settlement confirmation because the blockchain is an online "limited" solution only. They commented the hyper super innovative features of crypto as well... tss tss tss... we are years away from adaption hype.

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Prior to this update, there was no way for a party receiving a payment in Corda Settler to manually confirm that the payment had been received. GuildOne CTO Barry Kreiser stated that “Rather than treating manual settlement as an exception, we decided it made sense to implement another settlement method within Settler.”

The update illustrates that on-ledger payment systems are not yet universally recognized and supported. “On-ledger settlement, supported by Settler, is far superior in terms of efficiency and traceability but is currently limited to electronic payment rails, such as SWIFT, or cryptocurrencies, such as XRP (Ripple),” said Kreiser. “Until there is more support in Canada for these settlement methods or—even better, digitized fiat currency—alternative integrations to traditional rails are required.”

https://guild1.co/2019/06/19/r3-and-guildone-announce-inclusion-of-manual-settlement-on-corda-settler/

Edited by Chris404
typos corrected

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