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Julian_Williams

Crypto Eri - News from the Far East

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6 hours ago, xerxesramesepolybius said:

“Transactions are slow and costly, prone to congestion, and cannot scale with demand. The decentralised consensus behind the technology is also fragile and consumes vast amounts of energy.”

It’s almost as though they had never heard of XRP which is the opposite of all of those properties.

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2 hours ago, jn_r said:

Granted, it's only the Marshall Islands with a population of 55,000 living on 1,100 islands scattered across 750,000 square miles of ocean, but it will be interesting to follow their CBDC initiative, the SOV. They will create a cryptocurrency (the SOV) that is not pegged to any fiat money. Check out the website and white paper.. Small countries like this make it easier to experiment, there is less legislation, etc.

This could be interesting but has been dragging on for years. The official currency of the marshall islands is the US dollar, the interesting thing will be whether anyone accepts something with no underlying connection to real financial activity. The page on the website says the government will accept it for taxes but will their employees want to be paid in SOV.

https://sov.foundation/law.pdf

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bullet points :

  • Citi Bank - New alternatives have emerged that use cloud structures or blockchain to eliminate 3rd parties.  Ripple is well known in this market using tech that supports the XRP token to facilitate international payments.  Quote Banks initially viewed Ripple as a competitor, though increasingly banks are partnering Ripple
  • nCino - IPO
  • Brad Garlinghouse interview
  • Singapore - a tiny nation with 840 Fintech companies.  Flexible appraoch to regulation and licensing .  Ripple are now registered to have a license which is a big step towards opening ODL to/through Singapore

Links:  VET

 

Fluff: Geisha culture under threat

 

 

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Juniper Research about SMEs

  • SMEs are defined as businesses with between 10 and 250 employees (US 10 and 500 employees)
  • Total Value of cross border transactions 35 Trillion per year (growing at a rate of 30% per year
  • 2 out of 3 jobs are in SMEs (US and EU)
  • Banks concentrate on serving big businesses, and are making it harder and harder for SMEs to borrow money.

Juniper Research conclude that this market is going to be disrupted Ripplenet and Visa B2B connect.  Loans will also be a big market Ripplenet is entering

But Ripple is not just after SMES.  Big banks like Standard Charter are relying on Ripplenet success.

FLUFF -  top of the top coffee

 

 

 

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Posted (edited)

Michinoku Bank (owned by SBI) with 111 branches, mostly in Tohoku (northern tip of Honshu island - the big one that Tokyo is on) has announced they will be working with SBI remit and Moneygram to provide international remittances to Vietnam, China and Philipines.   

Quote

SBI Remit Co., Ltd. (Headquarters: Minato-ku, Tokyo, Representative Director: Nobuo Ando, hereinafter “Company”), a subsidiary of SBI FinTech Solutions Co., Ltd., which is a comprehensive fintech solution company, and is engaged in international money transfer service business, is Michinoku Co., Ltd. We would like to inform you that we have signed a business alliance agreement with a bank (Head Office: Aomori City, Aomori Prefecture, Director: Takayuki Fujisawa, hereinafter "Michinoku Bank") regarding member referral services for the international money transfer service we provide.  Our mission is to provide financial services centered on remittance to foreign residents, actively adopting new financial technology such as remittance using Ripple's distributed ledger technology and convenience. We have improved our remittance results by providing high-quality remittance services.

Expect announcement of ODL to Vietnam very soon

Fluff - Art traditions from Tohoku - rice field pictures 

https://eng.ambcrypto.com/ripple-partners-alliance-may-give-way-to-japan-vietnam-corridor/

Edited by Julian_Williams

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Posted (edited)

Eri explains what Polysign is and how it is affected by the OCC decision to hold crypto in custody.  XRP is now one step closer to access by banks and the when teh floodgate are open it will provide a market which will move trillions.

Polysign have a dream team including David Schwartz, Athur Britto and a lady who was head of custody services at Coinbase called Tracy Li   (The OCC is also headed by an ex Coinbase executive)

Polysign will provide a bridge for banks to transform from being fiat only services into digital banks that can provide many digital online services such as custody, loans etc that they were previously not allowed to be involved in providing.

Eri speculates that Polysign will provide in the cloud "HSM" technology

 

Fluff - Sumo and diamonds on Mount Fuji

Edited by Julian_Williams

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Posted (edited)

Review of where we stand with the fusion between R3,SBI,Coridor Settler 

Quote

S Coin is a platform, which issues local tokens on Corda in the form of government gift certificates, or a fisherman association to attract tourism, or any other custom campaign you can dream up. This is to make customized local campaigns in Japan to revitalize the outline communities. The fusion will be able to expand globally, for international use and will incorporate XRP for cross border currency bridging. SBI Holdings Co., Ltd. (Headquarters: Minato-ku, Tokyo, President: Yoshitaka Kitao, hereinafter “SBIH”) is a platform for issuing digital currencies, etc. using “Corda”, a blockchain solution provided by R3 in the United States. We are pleased to inform you that we have built the "S coin platform" and started a demonstration test for SBI Group employees from July 2020. Corda is a private/consortium type blockchain solution that was developed for enterprise use, overcoming the problems of conventional blockchain platforms. With the S coin platform built using Corda, it is possible to design and issue a unique digital currency, such as electronic money as a prepaid payment method, according to the purpose, and in this demonstration experiment, SBIH will issue it. It is used to issue the payment coin "S coin".  In this demonstration experiment, we built a mechanism to work together with this S coin platform and the smartphone money transfer and payment application "Money Tap" provided by Money Tap Co., Ltd., a subsidiary of SBIH.  Money Tap is an application that realizes direct transfer from bank account to bank account and immediate deposit, and we believe that a combination of both will contribute to improving user convenience. Regarding the charge, by sending money directly from the bank account to the S coin platform with the Money Tap app, S coins are issued on the S coin platform. Payment can be made at any merchant of the payment service provided by Money Tap. Normally, the payment will be made from the balance of the bank account, but in this demonstration experiment, the payment will be made from the balance of S coins.

Fluff - Gold Leaf Craftspeople

Hotels converted from Samurai owned warehouses

 
Edited by Julian_Williams

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Posted (edited)

Eri is highlighting insights comes out of a very lively and slightly zany interview between bad boy Charlie Shrem and David Schwhartz for instance:

Ripplenet, SBI are becoming the "Tinder" for banks.  Swell has been a place where banks find out and search out partners with specialist skills.  On behalf of their members Ripple and SBI have carved out a role of actively hunting out partners with specialist skills, and connecting them with each other on a network that is standardised 

Fluff - bottles with hidden pictures.

 

Edited by Julian_Williams

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  • EMQ Hong Kong - Partnered with Tencent and We Chat HK 
  • Mr FX (backed by SBI) has a coin for Swap and Option by buying forward Trading between crypto.  Using swap markets you can hedge trading.  In May they went to a board meeting with a proposal for Ripple
  • SBI Quarterly results

Fluff - How to learn Kanji

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On 7/30/2020 at 9:55 PM, Julian_Williams said:
  • EMQ Hong Kong - Partnered with Tencent and We Chat HK 
  • Mr FX (backed by SBI) has a coin for Swap and Option by buying forward Trading between crypto.  Using swap markets you can hedge trading.  In May they went to a board meeting with a proposal for Ripple
  • SBI Quarterly results

Fluff - How to learn Kanji

More on Swap  :  https://www.crypto-news-flash.com/ripple-fxcoin-plans-xrp-based-global-cash-management-system/amp/?__twitter_impression=true

Edited by Julian_Williams

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Greyscale produced a new toolkit for Financial Advisers 

67% of Financial advisers have no Crypto at all

Greyscale have a fund that is dominated by BTC, their advice is almost exclusively about BTC (its too narrow and not good enough), however in the last 24 hours Greyscale doubled their investment in XRP

Fluff JPop Hikaro Utada

 

Edited by Julian_Williams

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