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USDC will be used in Interbank transactions ūüĒ• Is it a threat to XRP ?


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  • yugioh changed the title to USDC will be used in Interbank transactions ūüĒ• Is it a threat to XRP ?
11 minutes ago, yxxyun said:

I always wonder why ripple didn't talk with USDC or PAX to issue stablecoin on XRPL,  but I think the stablecoin threat XRP is one reason,  they choose the ODL way, use XRP as bridge, stay away from stablecoin.  But XRP-collateralized Stablecoin is a ideal solution.

Right.

I believe regulated stable coins threaten XRP but in the another hand it doesn't create an effective FX between currencies.

So let's assume that everyone can send the stable coin across the world but it still doesn't solve the "nostro-vostro" account problems or the exchange of USD with other local currencies.

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1 hour ago, yugioh said:

I read this tweet.

Will it make XRP useless ? 

It literally says banks can use blockchain as though it were infrastructure. Wouldn't then legally speaking XRP be banking infrastructure and therefore not a security. Ripple sold infrastructure credits with a promise of infrastructure. If they provided the promise then XRP is no longer a security under the assumption that a promise is a security/  

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Why this is good news:

- Banks are allowed to run independent nodes for distributed ledger networks.
- Run stable coins on top of the Xrp ledger (or other networks).
- Future possibility to have Cdbc on top of Xrp ledger (or other networks).


https://ripple.com/insights/cbdcs-and-interoperability-bridging-the-gap-in-innovation/

 

 

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9 minutes ago, namini said:

Why this is good news:

- Banks are allowed to run independent nodes for distributed ledger networks.
- Run stable coins on top of the Xrp ledger (or other networks).
- Future possibility to have Cdbc on top of Xrp ledger (or other networks).


https://ripple.com/insights/cbdcs-and-interoperability-bridging-the-gap-in-innovation/

 

 

Bank of international settlements.....

This is oddly familiar ........

So_it_begins.jpeg

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1 hour ago, yxxyun said:

I always wonder why ripple didn't talk with USDC or PAX to issue stablecoin on XRPL,  but I think the stablecoin threat XRP is one reason,  they choose the ODL way, use XRP as bridge, stay away from stablecoin.  But XRP-collateralized Stablecoin is a ideal solution.

This will be fun to watch unfold 

 

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7 hours ago, yxxyun said:

I always wonder why ripple didn't talk with USDC or PAX to issue stablecoin on XRPL,  but I think the stablecoin threat XRP is one reason,  they choose the ODL way, use XRP as bridge, stay away from stablecoin.  But XRP-collateralized Stablecoin is a ideal solution.

because everyone wants to make their own coin and get rich.

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Wasn't there something about some part of the US government trying to ban stable coins? No stable coins mean more room for CBDC's.  I honestly don't get the point of a stable coin if we have CBDC's.  Maybe stellar will run stable coins whereas CBDC's will run on XRPL. Maybe there really is a rivalry between parts of the US government, between left and right.  Jay and the Right Party don't want Ripple to succeed and want to slow the adaption of a bridge currency because that way the USD will remain the world reserve currency longer. Ripple and the left (Ripple has demonstrated their like for the left party and vice versa) I think they want CBDC's to take over and have a reserve currency not backed by any nation. Idk just throwing my mind out there. Seems like there  is conflict of interest.

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So they are tokenizing a centralized useless sh*tcoin (USDC) into stellar, only to add another layer of complexity with apparently no advantages. I don't see how this is an improvement with actual banking system. Why don't the US issue their own digital USD as China is doing?

Moreover I don't understand how the governments allows a US company (Circle) to basically issue FIAT money as if it was FED. I know FED is printing money as if it is toilet paper, but this doesn't allow a private company to issue FIAT IMO.

EDIT: the only advantage is that USDCS (the IOU on stellar) is faster to move than the shi*ty technology it's built on (ERC-20).

Edited by tulo
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