Confirmed - Bhutan is just the first of many CBDC's :)

[HAL1000]

AND SO IT BEGINS

Monica Long is GM of RippleX - On a mission to enable the Internet of Value.

Edited September 23, 2021 by HAL1000

[Julian_Williams]

I think people have not cottoned on that this story is huge.  Similar in scope to EL Salvador going over to BTC, but in this case it is the beginning of a network of CBDC on the XRPL (and I presume Ripplenet?). 

This is about ALL the money. Making BTC as a currency seems tome doomed, unless they drop PoW

[RipMcGillicuddy]

3 minutes ago, Julian_Williams said:

I think people have not cottoned on that this story is huge.  Similar in scope to EL Salvador going over to BTC, but in this case it is the beginning of a network of CBDC on the XRPL (and I presume Ripplenet?). 

This is about ALL the money. Making BTC as a currency seems tome doomed, unless they drop PoW

If and when vulnerabilities are found in the Lightning Network, "BTC as a currency" will take yet another hit. 

There are many major countries running pilots on CBDCs, and I believe R3 is behind most of those designs on private chains. IMO, Ripple still has some catching up to do in the CBDC space. 

[Julian_Williams]

4 minutes ago, RipMcGillicuddy said:

If and when vulnerabilities are found in the Lightning Network, "BTC as a currency" will take yet another hit. 

There are many major countries running pilots on CBDCs, and I believe R3 is behind most of those designs on private chains. IMO, Ripple still has some catching up to do in the CBDC space. 

Am I right in thinking XRP/Ripplenet are integrated with R3 on these projects?

[RipMcGillicuddy]

Just now, Julian_Williams said:

Am I right in thinking XRP/Ripplenet are integrated with R3 on these projects?

I desperately want to believe that, and I'm sure there are some connection points. But I do believe R3 is working mostly independently from Ripple / XRPL / XRP. I do believe that XRP is a tool that has been vetted and CAN be used as a cross border settlement mechanism via R3's Corda settler, but not that XRP WILL be used as such. I am certain that I have some of that information incorrect. 

[RipMcGillicuddy]

There are so many dots to connect out there. Like SBI and R3 also work together, but to the extent again that Ripple and XRP are involved is just speculation (but the kind of speculation I like!)

Somewhat exhausted from connecting dots for the last 4 years, but I think we're getting much closer to seeing how it will all come together. 

[Julian_Williams]

Pretty much my understanding too.  R3 and Ripple do not like each other much.  But in the end all of this becomes one thing - the internet of Value and Ripple/XRP are set to the biggest item on that.  If they were to take a 20% share of the business XRP would be in the hundreds, or thousands, but that is a decade away.

On top of that you have all the other application - B2B, Remittances, Derivative tokenisation, Defi, FLR, NFTs, Gaming.  So XRP is set to worth a lot in the not too distant future. 

 

The corruption at SEC has held XRP back for 3 years, but we have survived and we accumulated. Now we are about to take over huge areas of crypto

Edited September 23, 2021 by Julian_Williams

[RipMcGillicuddy]

Private ledgers based on the XRPL have some really really great potential. With successful pilots like this one and some others in the future hopefully, Ripple may be able to catch up to the field (R3) in a big way. 

[Danny]

I doubt the SEC has significantly limited Ripple's progress to be honest. More than once James Wallis (VP at RippleX, Central Bank Engagements and CBDCs) literally said "I don't want to blow the trumpet too much but the evidence supports Ripple's the clear market leader".

Sources: 
https://share.transistor.fm/s/0a0a8352
https://youtu.be/DH4WgWnkOfs

[BillyOckham]

36 minutes ago, Danny said:

I doubt the SEC has significantly limited Ripple's progress to be honest. More than once James Wallis (VP at RippleX, Central Bank Engagements and CBDCs) literally said "I don't want to blow the trumpet too much but the evidence supports Ripple's the clear market leader".

Sources: 
https://share.transistor.fm/s/0a0a8352
https://youtu.be/DH4WgWnkOfs

I strongly disagree with that assessment.  Innumerable bank representatives have mentioned the murky nature of US regulation as a disincentive to utilising digital assets (and by inference ODL). 
 

I think Ripple would be much further advanced if the SEC had simply accepted and agreed with the Fincen ruling that XRP was a currency.

The CDBC side of things is perhaps as you say but certainly the remittance business has been severely hampered.

 

[BillyOckham]

I should add that if the remittance side was much further advanced that would have probably synergistically assisted the CBDC side also.

 

[Danny]

14 minutes ago, BillyOckham said:

I strongly disagree with that assessment.  Innumerable bank representatives have mentioned the murky nature of US regulation as a disincentive to utilising digital assets (and by inference ODL). 
 

I think Ripple would be much further advanced if the SEC had simply accepted and agreed with the Fincen ruling that XRP was a currency.

The CDBC side of things is perhaps as you say but certainly the remittance business has been severely hampered.

 

You're right.

Edited September 23, 2021 by Danny