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Ripple Paid $15.1 Mln in “Market Development Fees” to MoneyGram in Q2 2020


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19 minutes ago, jn_r said:

No I'm Dutch and in the Netherlands. But on the Internet speaking English of course. I'm trying with a VPN from HongKong to google for chinese news site items, but seems not so straightforward.

I know yxxyun is long time in the community and actually one of those guys that developed some useful stuff. There are some links with ripplefox/liangran2012 and ripplerm, but nowadays we here less and less from the Chinese community branch. RippleFox still is active on XRPL, but they seem to be more active on the Stellar site ..

Ripplefox use golang develop a private blockchain,  reference the stellar function,  and focused build business (Supply Chain, Finance and Taxation)with it for other companies. Gateway are no longer their focus. 

Edited by yxxyun
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https://u.today/ripple-paid-151-mln-in-market-development-fees-to-moneygram-in-q2-2020  

Of course they would offer xrp it’s part of the whole plan as they’ve discussed in many different ways not to mention they have a 10% stake in MG. Why is this still a problem ? 

WWWWWWWWWWWHHHHHHHHHHHHHHHHAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAATTTTTTTTTTTTTTTTTTT>??????????!!!!!!!!!!!!!!   I think I figured out who's bot you are !

7 minutes ago, yxxyun said:

Ripplefox use golang develop a private blockchain,  reference the stellar function,  and focused build business (Supply Chain, Finance and Taxation)with it for other companies. Gateway are no longer their focus. 

do you have a website that I can visit to understand what you do better?

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5 hours ago, EcneitapLatnem said:

Right... admittedly, I refuse to read... mainly because the poster @yxxyun does not understand english  and runs everything through google translate, apparently... 

wouldn't be  a deal if it seemed like genuine curiosity and wanted to see what reactions were etc, etc, etc...

HOWEVER... only negative posts.....never positive news feeds.... etc... 

Can't prove it, but I think he's only half human...

Yes, he doesn't make that many positive posts. I can't recall one of the top of my head, but his English is much better than my  Chinese.  lol,  he once got really pissed off at one of my negative posts about XRP, so that qualifies as a positive post by him. He made a very angry reply exclaiming that I was spreading 'FOMO' about XRP when he actually meant to say 'FUD'.  It was a really unintentionally funny comment. :D  But, then again, we all make "faux pas" from time to time. 

Edited by enrique11
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$15.1 Mln in “Market Development Fees”

was likely Ripple paying MoneyGram to create liquidity by having MoneyGram and maybe even Moneygram trying to incentivize it's partners in foreign countries, if it has any to act as MMs at various endpoints of the corridors they service, but in order to do that, Moneygram and "Co." would likely have to prefund the various exchanges at their respective endpoints with cryptographic fiat issued by the various exchanges using real fiat to prefund those exchange accounts in order to do the currency swap from XRP into the desired receiver's denominated fiat currency because the organic liquidity is not there yet to do these swaps without some significant amount of prefunding.  Just an opinion, I could be wrong, but it's that "climbing the ladder" analogy I made in earlier posts. It's difficult to try to skip the lower rungs and jump to the higher end of the ladder by creating a solution that is more troublesome, costly, and has not yet been proven to succeed at the higher end like incumbent legacy systems.  Just start from the bottom, you don't have to prefund corridor endpoints as much or maybe even not at all, if you start small enough, which means it will take longer for the liquidity to grow naturally and longer to capture a significant market share of legacy systems. 

I don't know what happened.  I'm just guessing at why this didn't work out with Moneygram.  I don't know how Moneygram works.  I know it's available in various endpoints, like supermarkets, and other such places, but I don't know if it's local banks that do business internationally providing the liquidity to do the exchange back into the endpoint's native fiat, and MoneyGram tried to circumvent the banks by using local crypto exchanges and prefunding those instead to create the liquidity required to replace the role of local bank(s). 

I don't know how it works.  I really would like to research it more, so I could more likely fit the "pieces of the puzzle" together.

Also, the pandemic didn't and doesn't help, but I don't know to what extent if any that interfered with Moneygram's plans to incorporate XRP into their business model as agreed upon by Ripple. 

Edited by enrique11
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