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Ripple Insights - Issuing Stablecoins on the XRP Ledger


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Fully realizing that what I'm about to say is not exactly how the real world of big banking, big tech AND big government works...any non-fatal result of this SEC case would be a sign from the government to the big banks that Ripple has been vetted to the fullest extent of the law. If that is any sort of green light to those institutions, at least to become open to the idea of the XRPL, then yea, you absolutely want to be holding XRP before that decision. 

And of course the exact opposite could happen and XRP falls off a cliff. Happy to have placed a bet no matter what happens. 

Love Joel Katz. Don't think he's a bad player. Think he's put everything that his incredible mind can offer into this project. And genuinely hope he and all of us see the fruits of his foresight/genius and our research/patience. 

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Thanks for that update,  @kenrino That's what I really want to see XRP take action. XLM has enable issuing stable coin for a while. In fact, in Feb, USDC will run on XLM.

Let's see if USDT run on XRP

It is notable that both USDT and USDC have plan to run their stable coin on Solana (which is not really mature, and got major technical issue recently)

It is an good attack on ETH as well, transaction fee on ETH is insanely high. I am using TRON to transfer USDT without fee, but very worried.

Edited by Jack21
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Both FiCEN and OCC are American government offices. They recognized XRP as A virtual currency running on the blockchain network.

Hello, the SEC, please withdraw your lawsuit against Ripple(XRP) .Ripple (XRP) is not a security. 

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57 minutes ago, Malloy said:

the XRPL is such a great tech to use for exchange and trade...if only there was volume...funny how a couple years ago Ripple moved away from their DEX because they thought it would cause them problem...how now it may be part of the solution...just sayin'

Thanks for the info, that's explain why their DEX does not work well.

Just now, bellbright said:

Both FiCEN and OCC are American government offices. They recognized XRP as A virtual currency running on the blockchain network.

Hello, the SEC, please withdraw your lawsuit against Ripple(XRP) .Ripple (XRP) is not a security. 

SEC under Biden will drop the lawsuit, in God we trust

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52 minutes ago, mrak said:

What every happened to David Schwartz's proposal to create an XRP-collateralized stablecoin?

My speculation/theory is that it got dropped once Flare announced their project and intentions. Likely they were even in contact with David before hand. I'm not saying there's still no use for an XRPL-native collateralized/pegged stablecoin, but it makes sense for now to leave it to Flare while XRPL devs focus on other features and wider interoperability and scaling. 

Note that with Flare you can utilize the XRPL trustlines (very important!) in a NOVEL way, so they aren't trust-issuances but "trustless" ones backed by the collateral of both systems programmatically, yet able to be fully *fungible* (key point).

What was the one big issue with gateway issuances (IOUs) going back to 2013? Not just regulation, but fungibility. What did David just emphasize about XRPL issuances in that latest piece? Fungibility. That is very interesting to me. A gateway issuance, e.g. USD.Bitstamp is NOT technically fungible 1:1 with another issuance, e.g. USD.Gatehub, due to trust/market/liquidity valuation issues. You can get it to work, but it's tricky and open to misuse.

If and once you do have it working though, you can enable "rippling", the biggest and most important concept behind the XRPL (bigger than XRP itself, IMO)... So... how do you get fully fungible issuances, across trustlines, so that finally (finally!) after near on a decade open up the XRP ledger's FULL potential (pathfinding, autobridging, DEX swaps, synthetic orderbooks, rippling, etc)? Like this: 

https://blog.flare.xyz/closing-the-circle-on-xrp-flare-interoperability/

Game. Set. Match. 

Edited by thinlyspread
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