Nexus from the BIS: a blueprint for instant cross-border payments = XRP MOON

[RipMcGillicuddy]

12 minutes ago, Herbalist said:

what about nostro accounts?

is this initiative like xrp do they want to free the trillions in nostro?

or is it like all the other projects that work with nostro?

I feel like Brad, at least, has continued to point out that these other approaches do not address the nostro-vostro accounts and/or free up liquidity. 

ODL still seems to go beyond the messaging aspect alone in order to free up all that liquidity. I could be wrong though. 

[HAL1000]

BAD TIMES FROM DIGITAL PERSPECTIVES SUMS UP THIS WHOLE THREAD IN  THE FOLLOWING VIDEO:-

Only kidding Brad   - Brad Kimes is a really good researcher for the XRP community.

Edited October 13, 2021 by HAL1000

[HAL1000]

On 9/30/2021 at 1:11 PM, StanleyXRP said:

forgive my ignorance, but to double check, did ripple patent the ODL concept?

https://dailyhodl.com/2021/02/12/ripple-patents-xrp-powered-on-demand-liquidity-network-for-cross-border-transactions/

Yes - I just forgot.

[HAL1000]

https://www.nasdaq.com/articles/ripple-wins-us-patent-for-new-oracle-based-smart-contract-design-2020-10-02

[HAL1000]

https://saudigazette.com.sa/article/612198/BUSINESS/SABBs-International-remittances-grow-by-over-50

https://cointelegraph.com/news/digital-pound-foundation-launches-to-promote-cbdc-development-in-the-uk

G7 finance officials endorse principles for central bank digital currencies

https://www.reuters.com/business/g7-finance-officials-endorse-principles-central-bank-digital-currencies-2021-10-14/

[HAL1000]

 

[HAL1000]

 

[HAL1000]

https://www.dcfintechweek.org/bis-joins-fintech-week/

The Bank for International Settlements to Co-Host Fintech Week

This year, DC Fintech Week will be teaming up with The Bank for International Settlements on Day One to explore cutting edge developments in fintech policy, including issues of coordination and competition in international payments, digital assets and more.

LET'S PLAY CONNECT THE DOTS!

[HAL1000]

 

[HAL1000]

https://www.banklesstimes.com/2021/10/19/national-bank-of-france-gives-cbdc-a-go/

National Bank of France gives CBDC a go

France’s central bank launched one of the biggest CBDC trials in the EU to date, executing a series of bond transactions via blockchain. The pilot program will continue for 10 months, CoinDesk reported, citing a report by the Financial Times. The transactions were executed by the Banque de France in cooperation with a consortium of major financial market participants in the country using a system developed by IBM.

Soren Mortensen, global director of financial markets at IBM, is quoted in the report as saying:

This project went well beyond previous blockchain initiatives because it successfully tested most central securities depository and central bank processes whilst eliminating current interim steps, such as reconciliation between market intermediaries. We are rapidly moving towards fundamental change in the post-trade market infrastructure.

The bank executed almost 500 instructions in both primary and secondary markets. The transaction value has not been disclosed. The pilot program included the French public debt office, major French banks, and other notable establishments. It is led by securities depository Euroclear.

All eyes on the long-term outcome

France is without a doubt one of the highest-profile eurozone countries to dare such an experiment. Sweden, who uses the e-krona, is another. The Swedish Riksbank is considering digitizing its national currency.

France’s central bank published a request for proposals for CBDC “experiment” applications earlier this year in an attempt to grasp the risks and mechanisms of CBDCs better. They have also conducted a few experiments using a CBDC for cross-border payments, the wholesale market, and interbank settlements.

[HAL1000]

[HAL1000]

https://www.businesstimes.com.sg/opinion/towards-an-era-of-cross-border-cbdcs

Towards an era of cross-border CBDCs

Fast and affordable cross-border payment networks are essential for the digital economy's sustained growth.

[jargoman]

I saw Gary Gensler in the photo of the fintech speakers. Remember when Jay Clayton and Brad were sitting on stage together and Clayton didn't say a damn thing about security status of XRP. 

[brianwalden]

1 hour ago, jargoman said:

I saw Gary Gensler in the photo of the fintech speakers. Remember when Jay Clayton and Brad were sitting on stage together and Clayton didn't say a damn thing about security status of XRP. 

To be fair, that's not the place to being it up.

[Caracappa]

8 minutes ago, brianwalden said:

To be fair, that's not the place to being it up.

Agreed. Just like breaking up, you do it a few days before christmas to avoid parents in law.