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New XRP Competitor - is this a threat to Ripple?


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Looks like there is a new cross border payment player in town which could cause a considerable threat to the existence of XRP. Its technology is powered by the Algorand Blockchain.

How similar is this to xRapid and what are your thoughts on it as a alternative to XRP?

https://financefeeds.com/sec-v-ripple-takes-its-toll-as-fresh-competition-arises-algorand-powered-six-clovers/

 

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RAPID redesigned time-tested payment capabilities with the Algorand blockchain and uses regulated stablecoins including USDC to represent fiat on-chain to enable the instant transfer of value between sender and receiver.

This sounds like a stable coin to stable coin network, which is not without counter party and not ODL or XRapid competitor.  But it vaguely talks about "crypto currencies" which could include using ODL type solutions using liquidity of tokens like XRP.  

in another para the writer talks about

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Since its launch, Ripple has seen a growing number of new competitors looking to take on SWIFT’s leadership, including Fnality aka “XRP Killer”.

Fnality is not competing against ODL and therefore not an XRPkiller.  These other systems work provided they are funded both ends - a faster more secure vostro nostro solution to bank transfer. 

Edited by Julian_Williams
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31 minutes ago, KarmaCoverage said:

There is a picture somewhere with Brad and the Algorand guys, and maybe Arrington, who I think invested in Algorand.

Yea a recent one too. They're all after some of SWIFT's lunch, and there is plenty of it. The case with the SEC certainly is not helping this, but Ripple still seem to be executing on an Asia strategy, which is the emerging market to be in. 

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you all guys must understood that. although algo has way more TPS comparison to xrp, but the scene is that IMF WEF AND world bank are the major customer of ripple xrp.  and the second point is xrp circulation is 100 B so that they can handle the global transaction.  Its the raw idea of david swatz that global payment is just a  kidding ground for them. ripple has its hands towards the derivative market and the SMART CONTRACT.  Intercrosss border is justt a  testing ground for Brad garlinghouse

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