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International Banking Flocks Ripple

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Just to point out article also mentions Xrp apart from Ripple.

"In my personal opinion this unique and balanced positioning, and respect for regulation and compliance in the ecosystem is perhaps the single most corner-stone reason why they have attracted so many world class institutions. XRP being the class protocol asset provides for universal acceptance throughout the ecosystem, and also can act as bridge between diverse currency-pair conversions."

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Another push for xrp found in the article above. 

"*note : as of rippled 0.60.0 Escrow is available on the native crypto-currency (XRP) only. Future releases are supposed to support Escrow on IOUs, however when you are suspending payment for conditional dispatch, do you want to hold suspended funds in a liability (AKA: IOU). I personally believe XRP is the best asset for Escrow as it is free from country party-risk and universally accepted throughout the ecosystem."

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Thanks @B42 for posting this on zerp box.

 

One of the best articles I have read regarding XRP, BTC and ETH.

Source: https://www.linkedin.com/pulse/international-banking-flocks-ripple-chandan-maddanna

Chandan Maddanna
Vice President, Automation, Global technology, JPMorgan Chase & Co.

 

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Salient features of ripples native cryptocurrency XRP 

Liquidity providers can bridge any currencies directly through XRP, saving them from having to maintain accounts with each counter party for each currency ( Ex: A 'Bank' or 'Remittance Operator', having to maintain an account in every regional currency they operate in, often with 'trusted' custodian and/or partner institutions acting as intermediaries: aka: nostro/vostro accounts).

Also, apart from guaranteeing acceptance ecosystem wide, XRP Enables usage of advanced functions like escrow and paychan.

Conversion between exotic currency pairs, might involve multiple internal currency conversions ( Ex: INR to MXN might actually go through INR->USD & USD->MXN ), bridging XRP directly, can avoid and save such convoluted costs and settlement delays associated.

Also, XRP does not require bank accounts, service fees, counter party risk, or additional operational costs, and hence XRP is the true protocol enabler on the RCL, which is a public good, open for one and all.

Lastly, in a more complex setup, involving trust and/or swap lines between multiple parties, your 'compound transactions' can avoid having to depend on others 'IOU liability' and entirely eliminate risk of IOU failures, by making sure all the interconnected transactions clear in XRP, a liability freenative currency, through and through.

 

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So where do they stand in my mind?

➾Bitcoin : A decentralized digital "store" of value ( it is worth something ), that no government or central body has direct control on. ➾Use cases: { digital store of wealth }

➾Etherium : A contract based cryptocurrency, where execution of contract code is guaranteed( Code is law ). ➾Use cases : { Casino, coupons, shopping vouchers, game and prize exchanges, lotto and lotteries, hotel reservations, service vouchers, loyalty card & points, short term insurance contracts, enterprise contracts base settlement etc..}

➾Ripple XRP : A transaction based cryptocurrency designed to unlock IOV (Internet of value). It enables congestion free global value movement & extends ultra-low transaction cost to payments of all sizes (micro & macro) - in near real time. ➾Use cases : { Payments, Remittances, Forex, Trades Settlements, Banking Platforms (some have dubbed this Fintech 2.0), exchanges, Next-gen Trading platforms, Ultra-low cost real-time money/IOU movement, Domestic and International transfer services, Complex trust and intermediary channels, Real time global pay outs etc. }

 

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