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XRP, XRPL will be ‘bridge’ between CBDCs, says Ripple exec


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David Schwartz, CTO at Ripple, recently delivered a lecture at Berkeley, a lecture during which he shared his views on how he sees XRP and XRPL fitting into the broader picture of a world with CBDCs.

I think the benefit of us all being here is to learn from each other. Discussion and challenging each other is part of that and we can't be all right or wrong. That said, atomic swaps work a little as

I think we shouldn't forget CBDCs aren't assets, they're liabilities, because they're backed by fiat. So you're transferring liabilities, not value. Ripple is trying to create an internet of value, no

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A bridge between CDBCs? That's probably the worst and most absurd use case I have ever heard. Why would you need a bridge asset between digital assets when you can instantly exchange one for another in one or multiple decentralized exchanges in real time. What you need is an aggregated pool (sum of all pools) with enough liquidity, not a bridge asset. 

How long until Ripple switches to a different use case? Accepting bets! 

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1 hour ago, XRPage said:

A bridge between CDBCs? That's probably the worst and most absurd use case I have ever heard. Why would you need a bridge asset between digital assets when you can instantly exchange one for another in one or multiple decentralized exchanges in real time. What you need is an aggregated pool (sum of all pools) with enough liquidity, not a bridge asset. 

How long until Ripple switches to a different use case? Accepting bets! 

Interesting. But doesn't Ripple target not so liquid currency pairs. 

 

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1 hour ago, XRPage said:

How long until Ripple switches to a different use case? Accepting bets! 

The ironic thing is that without another use case there's no reason to use XRP and therefore would never have enough liquidity to be used as a bridge currency. 

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1 hour ago, strikerjax said:

Interesting. But doesn't Ripple target not so liquid currency pairs. 

 

It doesn't matter. With digital assets you can do as many swaps in the same transaction as needed for basically the same cost and instantly. So if you want to buy EUR with CHF being this an iliquid market you could swap CHF for USD and then USD for EUR in the same transaction by using multiple pools and multiple exchanges. You could say that USD is the bridge asset in that example but it could be anything. You do not need XRP for this. 

And when we are talking about digital currencies issued by central banks these transactions represent real and instant settlement. 

Edited by XRPage
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5 hours ago, XRPage said:

A bridge between CDBCs? That's probably the worst and most absurd use case I have ever heard. Why would you need a bridge asset between digital assets when you can instantly exchange one for another in one or multiple decentralized exchanges in real time. What you need is an aggregated pool (sum of all pools) with enough liquidity, not a bridge asset. 

How long until Ripple switches to a different use case? Accepting bets! 

Did you read the speech?

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On 10/22/2020 at 2:23 PM, mandelbaum said:

I can not belive US regulators and their silence.  This is basically Cisco telling US regulators they would be moving overseas back in 1989.

I am not sure why this is being compared to Cisco in 1989?  Did this happen with Cisco back then and the US regulators cared?

Ripple is currently a relatively smaller company and has lower revenue, as compared to the other power house companies in the US.  There are no guaranteeds Ripple will be as successful as a company like Cisco.  Ripple has a low amount of people who support them and understand their business model.  The US government has already spent a lot of effort and attention on helping develop the current financial environment in the US.

I would expect US regulators to not spend a lot of time responding to smaller companies like Ripple.  They are going to focus more time responding to concerns coming from the larger revenue generating and employee based organizations.

Edited by wogojump
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7 hours ago, XRPage said:

It doesn't matter. With digital assets you can do as many swaps in the same transaction as needed for basically the same cost and instantly. So if you want to buy EUR with CHF being this an iliquid market you could swap CHF for USD and then USD for EUR in the same transaction by using multiple pools and multiple exchanges. You could say that USD is the bridge asset in that example but it could be anything. You do not need XRP for this. 

And when we are talking about digital currencies issued by central banks these transactions represent real and instant settlement. 

I would expect this conversion to be slightly more than converting via xrp. Would be keen see David's take on this. 

I expect CBDCs to be at least a few years away given how governments move, whereas xrp is a working solution with liquidity being built now. 

Edited by strikerjax
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