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“SWIFT enables payments to be executed in seconds”

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I can hear the XRP Army approaching:

1. But SWIFT is legacy

2. Doesn't use DLT

3. What about Settlement, still need NOSTRO\VOSTRO.

4. XRP bridge currency, solves a problem.

5. Blag Blah Blah

 

Edited by Guest

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Just now, Freaky said:

I can hear the XRP Army approaching:

1. But SWIFT is legacy

2. Doesn't use DLT

3. What about Settlement, still need NOSTRO\VOSTRO.

4. XRP bridge currency, solves a problem.

5. Blag Blah Blah

 

6. We have big partnerships like euro Exim bank!

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Looks like a copy / paste from Ripple playbook, except keywords we wish missing...

If this is as good as it sounds, then you might consider selling XRP at the current $0.27-something-high for good.

What's the caveat?

 

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Everyday Swift get a little closer to what ripple is trying to do.

 

Ripple say they are not in competition with Swift. 

But I think Swift sees Ripple as competition for sure. 

Edited by Carnage

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Ignacio Terol, Deputy Head of Division Market Infrastructure Development at the ECB, said: “The trial shows that the 24/7/365 availability of central bank money which TIPS provides can be leveraged not only for instant payments within the EU, but also for  cross-border payments originating beyond the EU.

Domestic instant payments are ( often, but surely with TIPS) settled via central bank money, prefunded by participating banks. 

Surely this is a solution which competes with the XRP solution and makes the old Swift much faster, but as said, prefunding is still necessary. Is it enough to make XRP obsolete? Who knows, the game is on! 

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43 minutes ago, Freaky said:

I can hear the XRP Army approaching:

1. But SWIFT is legacy

2. Doesn't use DLT

3. What about Settlement, still need NOSTRO\VOSTRO.

4. XRP bridge currency, solves a problem.

5. Blag Blah Blah

 

As if your post wasn’t predictable, we could see it coming from miles away. Maybe try some substance, as a banker you must surely be able to give some cons and pros of both systems? 

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25 minutes ago, Carnage said:

Everyday Swift get a little closer to what ripple is trying to do.

 

Ripple say they are not in competition with Swift. 

But I think Swift sees Ripple as competition for sure. 

Yes and no.... SWIFT has good relationships with banks and very close ties with the global landscape of clearing houses in large networks of participating banks. Ripple fundamentally is aimed to cut out those systems of nostro/vostro related clearing... to replace them by XRP/fiat liquid generating exchanges and XRP value moving. SWIFT CAN hook into this new way of settlement, but only by the grace of their clients (banks)....

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Guest
23 minutes ago, Ripple-Stiltskin said:

As if your post wasn’t predictable, we could see it coming from miles away. Maybe try some substance, as a banker you must surely be able to give some cons and pros of both systems? 

I'm trying to be good but the mongrel just keeps coming out of me.

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Guest
32 minutes ago, Ripple-Stiltskin said:

As if your post wasn’t predictable, we could see it coming from miles away. Maybe try some substance, as a banker you must surely be able to give some cons and pros of both systems? 

SWIFT already has the hooks in place with 12,000+ FI's. If they can hang a system together to tap into local RTGS it will be game over for Ripple. They will achieve close to real-time settlement even if they system is "ugly".

Granted, Ripples xRapid is a clean sheet solution utilising the latest tech, but to get the rails and relationships built that SWIFT already has, Ripples tech will become obsolete by then.

 

Edited by Guest

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5 minutes ago, Freaky said:

SWIFT already has the hooks in place with 12,000+ FI's. If they can hang a system together to tap into local RTGS it will be game over for Ripple. They will achieve close to real-time settlement even if they system is "ugly".

Granted, Ripples xRapid is a clean sheet solution utilising the latest tech, but to get the rails and relationships built that SWIFT already has, Ripples tech will become obsolete by then.

 

I think the devil is in the details ( micropayments? Costs? Other technical modalities?) and that it isn’t about a 100% take-over of all Swift business. Even a part of the marketshare, a niche, can make XRP more valuable than it is now.  You’re thinking black and white, all or nothing, and the way you’re thinking a contender never has a chance to harm the existing market leader in any way.  History shows otherwise. We’ll see. 

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Guest
50 minutes ago, Ripple-Stiltskin said:

I think the devil is in the details ( micropayments? Costs? Other technical modalities?) and that it isn’t about a 100% take-over of all Swift business. Even a part of the marketshare, a niche, can make XRP more valuable than it is now.  You’re thinking black and white, all or nothing, and the way you’re thinking a contender never has a chance to harm the existing market leader in any way.  History shows otherwise. We’ll see. 

they may gain traction in exotic corridors, but even then generating xrapid liquidity will be a problem.

Efficient corridors like US-EURO ,they stand no chance, they have already said there isn't any real savings.

Micropayments, thats another topic, I myself am not sold on that concept for afew reasons.

Edited by Guest

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they may gain traction in exotic corridors, but even then generating xrapid liquidity will be a problem.
Efficient corridors like US-EURO ,they stand no chance, they have already said there isn't any real savings.
Micropayments, thats another topic, I myself am not sold on that concept for afew reasons.

You forget one thing.... the present banking system will not fit seamless on a federated valueweb. They can and will try to hook in but at the end the independent decentralised tokens will be those to serve as vehicles for fast moving value, not the deconnected (central) bank stablecoins as global webs will always dribble down to simplicity. Always.

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