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Bank for international settlements partners with R3


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The OP article is interesting, but the question "Has R3 scooped Ripple?" continues to follow it.  Briefly; no. Ripple and R3 offer two very different products. Ripple was not offering a blockchain pla

I know I am the Flare cheerleader here but I do disagree. So far 'DeFi' has been in a very chaotic experimental phase, as few people use crypto even fewer use any kind of DeFi. The possibilities for D

It's an experiment, so I don't know if you can say BIS has partnered with R3. I'm no expert but this video mentions a few things which are very much in favor of XRP. The last time I che

Keep in mind

https://www.ledgerinsights.com/sec-legal-papers-reveal-r3-ripple-settlement-was-more-than-240-million/

And from the top link:-

The BIS Innovation Hub, the Bank of France and the Swiss National Bank today announced that, together with a private sector consortium led by Accenture, they will conduct an experiment using wCBDC for cross-border settlement. The private sector consortium includes Credit Suisse, Natixis, R3, SIX Digital Exchange and UBS.

No mention of Ripple, has R3 managed to pull the rug out from under Ripple?

Accenture is mentioned, who are partnered with Ripple... so not exactly sure how this plays out in relation to XRP as such, but it is something to think about!

This XRP chat thread does explore this idea, but also keep in mind the BIS is the bankers bank so to speak and yet in their own presentation, Ripple is not mentioned, yet all these others are?

Edited by HAL1000
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3 hours ago, HAL1000 said:

Keep in mind

https://www.ledgerinsights.com/sec-legal-papers-reveal-r3-ripple-settlement-was-more-than-240-million/

And from the top link:-

The BIS Innovation Hub, the Bank of France and the Swiss National Bank today announced that, together with a private sector consortium led by Accenture, they will conduct an experiment using wCBDC for cross-border settlement. The private sector consortium includes Credit Suisse, Natixis, R3, SIX Digital Exchange and UBS.

No mention of Ripple, has R3 managed to pull the rug out from under Ripple?

Accenture is mentioned, who are partnered with Ripple... so not exactly sure how this plays out in relation to XRP as such, but it is something to think about!

The end of Ripple hope?

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2 hours ago, WrathofKahneman said:

So has Ripple missed the boat with crossborder-CBDC?  To this point, there hasn't near enough liquidity to handle government CBDC for them to even be in the game. Only recently have they advertised it as a product, and it seems largely dependent on their ability to make good on federated sidechains for privacy.

Yeah they always seem to be 2 steps behind, or where they have an advantage (XRPL's DEX) never utilize it until it's too late (DEX is a graveyard since 2014). Meanwhile projects with incentives steam on ahead with oracles, defi, better consensus engines, etc. Even Flare is going to have missed a lot of the defi hype.

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8 minutes ago, thinlyspread said:

Even Flare is going to have missed a lot of the defi hype.

I know I am the Flare cheerleader here but I do disagree. So far 'DeFi' has been in a very chaotic experimental phase, as few people use crypto even fewer use any kind of DeFi. The possibilities for DeFi are only just beginning, in crypto terms it is like 2016, things are just starting to appear and people are just starting to take it all a bit seriously but so far it is mostly hype and pipe dreams. 

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Posted (edited)

https://www.r3.com/blog/project-jura-facilitating-cross-network-cbdc-interoperability-with-banque-de-france-swiss-national-bank-and-six/

 

another press release from yesterday from r3...

click yourself through the whole homepage for me it reads like they use corda settler (xrp)

but then again i can be wrong im not an it-geek who is able to comprehend this information faster haha i need my time...

Edited by Herbalist
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Using Settler does not mean XRP. It is just one option. (In fact, Ripple had to push for an XRP widget to even get written for Settler. I don't think R3 were that interested tbh.)

The idea of R3's settlement system is that it's open to any connecting chain/ledger/node – the system coordinates whatever ledger or ledgers the parties decide to use. That could be SWIFT, or XRP, or Hyperledger, or anything compatible. 

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@WrathofKahneman has it right.  This is a huge market, maybe the biggest market of everything.  There will be a variety of needs inside that market which both R3 and Ripple/XRP will be front runners for providing specialist services.  

Ripple have done very well competing against SWIFT which gets them a foot in the door to push out ODL to their banking partners.  They have patents for ODL, but until the liquidity is there they cannot really compete for this mega sized intergovernmental payments business.

 

 

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5 hours ago, Seoulite said:

I know I am the Flare cheerleader here but I do disagree. So far 'DeFi' has been in a very chaotic experimental phase, as few people use crypto even fewer use any kind of DeFi. The possibilities for DeFi are only just beginning, in crypto terms it is like 2016, things are just starting to appear and people are just starting to take it all a bit seriously but so far it is mostly hype and pipe dreams. 

Thing is, that DeFi started in 2013, this is when it was chaotic (ask ETH about it).

Starting 2017-2018, its entered serious funding and development stage.

In 2019-2020 use-case evolved, all crypto uses it and builds on top (lego blocks on lending, oracles etc)

In mid 2020 up to now, its full power on, with stress tests.

Not sure why you say "hype and pipe" to ecosystem that toped 90B in TVL.

Things are not just appear, they were there for years, they just got addoption. If Flare will go live but will be limited in offers, and will be keeping picking up useless hype sh1te like LTC, DOGE, SHIBU... than its not better like XRP and its DEXes, Codius and etc. In stage of nowhere.

 

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