How will Ripples exit hit American banks.

[Valentino]

Ok, it's clear, the SEC has sued Ripple for using XRP as a security.

However, XRP persists and policies are determined by the XRP Ledger Validators. Even if Ripple has to release or burn the central coins, Ripple can still go abroad.

Then the SEC has the option to ban XRP transactions in the US, but what interest does that serve? XRP is cheaper and faster, so it is extremely advantageous for banks to move large amounts, but are there also conflicts of interest?

For Ripple and other cryptos it is very easy to bring in money via decentralized networks outside the banks and to start up other activities. The regular economy and the banking system to obtain investment capital are thus bypassed and banks remain with surpluses while digital currencies increase in value.

But even if Ripple is banned, and their activities shift abroad, the game can continue without the intervention of American banks.

However, there are many countries that do support Ripples business model and support such innovation. It is clear that if American banks do not go along with this development, foreign innovations & companies can continue to develop quickly and cheaply without interference from American banks, as a result of American banks seeing markets bypassing them.

The question I have then, how will banks resist this, what defense options do they have to preserve these markets. Is it by buying up these digital coins (50 billion xrp central and what will this action mean for the value of the currency?) in order to regulate traffic or are there still alternatives?

And vice versa, how does Ripple & XRP maintain its position in the banking world by expanding its competitive edge?

Now lets learn, think big and focus on the open space. I would like to hear your opinion on the global game of chess. What are the next moves/attacks & what is the rational behind it?

Best whishes, 

Valentino

Edited February 15, 2021 by Valentino
Correction

[brianwalden]

I don't think the SEC had classified XRP as a security. I believe the suit claims that Ripple sold it as if it was a security. I'm not a lawyer, but that's not the same thing as saying that XRP is intrinsically a security. I think at worst, if Ripple is prohibited from selling XRP in the US, they move to a friendlier country and go about their business there.

[Valentino]

Hi Brian,

Absolutely true, the claim is that XRP was sold like if it was a security but lets highlite the bigger game and strategy being played as I also requested at the end of the blogpost. Please share your thoughts, ideas and vision.

Kind regards, Valentino