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WrathofKahneman

Ripple's strategy? - mobile payments

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Thanks to @xrpNuts (Twitter) who found this in some of the Ripple literature for a telco conference.  They claim Top-15 telcoms are engaging & implementing.  Further evidence they are involved already.  

 

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https://imtconferences.com/?wpfb_dl=49

Edited by WrathofKahneman

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I know when I looked at CLS (the Clearinghouse) more closely it seemed as if the entire globe's payments industry is more or less in tune with each other even if adopting slightly different strategies.  It's getting interesting seeing the various parts pull together.  Less dots to connect! Thanks for this post in particular!

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Thanks for the very informational write up. I do have a question: what is Ripple’s advantage in this over, say, some in house block chain solution LG has? What makes it well positioned to be a dominate player powering China wechat like mobile payments over other more established companies?

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10 minutes ago, susli said:

Thanks for the very informational write up. I do have a question: what is Ripple’s advantage in this over, say, some in house block chain solution LG has? What makes it well positioned to be a dominate player powering China wechat like mobile payments over other more established companies?

I don't know the specifics of the LG initiative yet, but I suspect the Ripple advantages are the familiar ones; interoperability, liquidity and speed.  Payments in chat are already here, and XRP makes great sense for people sending money home over chat across borders.  The same seems true between companies across borders.  None of the companies would have to keep foreign currency on hand if they can source it almost instantly at an XRP gateway (MGI, maybe?)

And of course, instant settlement.  A purchase that involves XRP is immediately settled, dispensing with a lot of complicated payment rail infrastructure.  This helps companies forecast their finances much more accurately instead of waiting for netted sums in the pipeline.  

For the telcos this is especially attractive given how many towers and charges a single call during a daily commute can hop different networks, especially travelling across borders.  Using blockchain to track & reconcile the charges and settle with XRP would be attractive for its liquidity and foreign currency settling.  It also seems like a helpful setup for streaming payments as well. 

It's a good question - I hope we get to see real world answers!

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