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And what about PolySign mister Larsen ????


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Wow, this space is exploding based on institutional investor demand.  NYDIG, Fidelity, Bakkt, etc...  You bring up a good question, these guys claim to have built everything in house but I wonder too how Polysign fits into this.  Time will tell.  I don't see this as a slight in any way.  Perhaps Polysign isn't finished with their product?

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16 hours ago, aavkk said:

Wow, this space is exploding based on institutional investor demand.  NYDIG, Fidelity, Bakkt, etc...  You bring up a good question, these guys claim to have built everything in house but I wonder too how Polysign fits into this.  Time will tell.  I don't see this as a slight in any way.  Perhaps Polysign isn't finished with their product?

My assumption regarding this is that NYDIG could very well be a partner utilizing a "White Label" version of Polysign and/or Standard Custody and Trust blockchain/custody technology. David S. was asked about his involvement with Polysign in a recent online panel.

Take a look at their leadership roster. Who's NYDIG's Head of Regulatory Affairs - Benjamin Lawsky. Here's his LinkedIn profile.

Edited by King34Maine
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I think it's partly that Polysign isn't quite ready yet – but also part of a strategy by Larsen to draw attention to XRP on a big, institutional stage – "Oh, well if billionaire Larsen is keeping crypto here, it's legit" and the exta benefit that it shows large amounts of XRP can be safely transacted and stored in custody at NYDIG. 

He also has billions to spare so I'm sure at some point Polysign will get some love. Or what @King34Maine said: it's using Polysign tech under the hood. 

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3 hours ago, scoobysi said:

saw an interesting alleged polysign patent on twitter earlier which seemed to involve facial & vocal recognition as some kind of authorisation.....

Yeah, saw that on Twitter earlier today as well. For those who care, here's the link to the WIPO Polysign patent.

Edited by King34Maine
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  • 3 weeks later...
4 hours ago, Scout said:

I’m going to take a wild guess that Polysign is the smart contract system associated with Xpool and the ability for Banks to borrow or lease XRP but not custody the token for the use of cross border solutions.

^ This 

Why? Because banks and Custody firms already know that business model and the various monetization strategies that can be deployed based upon the core service offering of Custody. 

How to you strategically out preform an incumbent industry? First create a new one, Crypto. Second take advantage of the feature set the new tool/industry can do that the old couldn't.

I find it amusing that so mush buzz has been built around "trustless" distributed/Blockchain stuff. I'm amused because I see that as, everyone getting excited for the most simple thing the new tool can do. Also, because that is really the only feature of BTC, and the capital gains of BTC have paid for most of the self serving excitement.

So, what might PolySign be doing that other Custody offerings either Cant do, or Cant think of WHY anybody would want that? This thinking immediately made me thinking about CL's past with Lendingclub.

In my How xPool, I explained How & Why Ripple would want to do loans in the form of an Loc. I also explained how the exact same math used by Crowd Lending services like Lending Club could be used natively on XRPL.

So, I'd not be overly surprised if we do not learn of PolySign's full offering and feature set, till the other plain vanilla Custody services are live and in the marketplace.

Then, Bam, PolySign can do that easy security stuff (maybe better, maybe not) + offer better XRP asset management tools fully integrated across XRPL + multiple networks/exchanges/etc that enable functionality, underlying service offerings that are both valuable and very hard for Custody competitors to mimic.

If Ripple's LoC borrowers are Banks who are wholesale borrowing XRP, and Retailing it to their SME corp consumers, then they will need tools to manage that process... like maybe an XRP LoC from Ripple + some Custody and asset management from PolySign.

😁🤔😉

Edited by KarmaCoverage
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7 hours ago, KarmaCoverage said:

^ This 

Why? Because banks and Custody firms already know that business model and the various monetization strategies that can be deployed based upon the core service offering of Custody. 

How to you strategically out preform an incumbent industry? First create a new one, Crypto. Second take advantage of the feature set the new tool/industry can do that the old couldn't.

I find it amusing that so mush buzz has been built around "trustless" distributed/Blockchain stuff. I'm amused because I see that as, everyone getting excited for the most simple thing the new tool can do. Also, because that is really the only feature of BTC, and the capital gains of BTC have paid for most of the self serving excitement.

So, what might PolySign be doing that other Custody offerings either Cant do, or Cant think of WHY anybody would want that? This thinking immediately made me thinking about CL's past with Lendingclub.

In my How xPool, I explained How & Why Ripple would want to do loans in the form of an Loc. I also explained how the exact same math used by Crowd Lending services like Lending Club could be used natively on XRPL.

So, I'd not be overly surprised if we do not learn on PolySign's full offering and feature set till the other plain vanilla Custody services are live and in the marketplace. Then, Bam, PolySign can do that easy security stuff (maybe better, maybe not) + offer better XRP asset management tools fully integrated across XRPL + multiple networks/exchanges/etc that enable functionality underlying service offerings that are both valuable and very hard for Custody competitors to mimic.

If Ripple's LoC borrowers are Banks who are wholesale borrowing XRP, and Retailing it to their SME corp consumers, then they will need tools to manage that process... like maybe an XRP LoC from Ripple + some Custody from PolySign.

😁🤔😉

What this XRP Line of Credit (XRP-LoC) also sets up is the potential for many of Ripple's partners to start facilitating a "Pay Forward" service/initiative that's typically reserve for your large correspondent banks (JP Morgan, CIti, HSBC, etc). Using XRP-LoC in combination with RippleNet's built-in Multi-hop feature to facilitate payments on behalf of non-ODL/RippleNet customers is going to completely level the playing field and change the game especially for these large correspondent banks who rake in billions at the expense of smaller FIs. This is going to be huge and have a multiplier effect for the use of XRP/ODL!!

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10 hours ago, King34Maine said:

What this XRP Line of Credit (XRP-LoC) also sets up is the potential for many of Ripple's partners to start facilitating a "Pay Forward" service/initiative that's typically reserve for your large correspondent banks (JP Morgan, CIti, HSBC, etc). Using XRP-LoC in combination with RippleNet's built-in Multi-hop feature to facilitate payments on behalf of non-ODL/RippleNet customers is going to completely level the playing field and change the game especially for these large correspondent banks who rake in billions at the expense of smaller FIs. This is going to be huge and have a multiplier effect for the use of XRP/ODL!!

Re Multi-Hop, I think the most innovative thing I have seen is Flare's post yesterday. Because if IOUs can be "trustless" on XRPL, then Multi-Hop essentially becomes as they say, "atomic net settlement" via Rippling. This is important for two reasons. 

1. Atomic settlement, just means that the TX can make multiple hops per TX and that means that either all hops succeed or all fail and the TX didnt happen.

2. Rippling takes that feature, and expands it across multiple denominations of Value, XRP + IOUs. This creates an environment on XRPL of leveling the playing field, for denominations of Value (Crypto, Fiat Stablecoins, Gold, Stocks, etc).  

Re your point, it is a good point. I'm not sure how Siam is legally or economically preforming their "multi-hop" service for other banks, but if you are suggesting that they could be using an XRP-LoC to do so, I think that would make sense. Ripple said they have been testing the LoC for months. 

Edited by KarmaCoverage
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