Jump to content
Sign in to follow this  
PunishmentOfLuxury

Table of major banks working with Ripple

Recommended Posts

Posted (edited)
20 minutes ago, PunishmentOfLuxury said:

Interesting. It seems the image was originally tweeted by XRPedia on April 22nd, and he gave a link to the Ripple website whence it came, but it's no longer there. Hmmm ....

It also is not complete on the R3 PoC. According to this article there were 12 banks involved in XRP testing by R3. The picture only shows 7 banks

Edited by kanaas

Share this post


Link to post
Share on other sites
4 minutes ago, PunishmentOfLuxury said:

The banks shown are only those in the top 50 in the world. Presumably the missing 5 are not.

Makes those 5 probably even the most important and possible first "full adopting" clients for Ripple. The top tier banks will stick as long as they can to the correspondent banking system. That's obvious. They have a lot to lose on profits when that system collapse. For smaller players on the other side, correspondent banking is a cost, not a profit, and they will wanna go much faster on something like Ripple that will completely bypass correspondent banking. The GPI and Hyperledger trials should be seen as attempts to slow down the demolition of the profitable FX rates and fees connected to correspondent banking. It's all about the money and keeping the golden cow alive as long as it can. One should know that those milking the cow are the larger banks. All the rest may just feed her.... Tell me: would you slaughter or switch your cow, just like that, for a more balanced cowshed with no more huge profits for yourself?

Share this post


Link to post
Share on other sites
2 hours ago, PunishmentOfLuxury said:

I found it on this Japanese blog:

Nice research!  When I come across an article in Japanese and put it through Google translate, the result is sometimes not completely understandable.  I rely on our Japanese speaking forum members for most of their take on all things in the Asian market. 

Speaking of which: It seems like the latest price increases in XRP have been spurred by investment from here in the West, correct?  Why is there not an Asian version of Poloniex out there?  Or maybe there is? 

Share this post


Link to post
Share on other sites
53 minutes ago, kanaas said:

Tell me: would you slaughter or switch your cow, just like that, for a more balanced cowshed with no more huge profits for yourself?

Good analysis, but we know that eventually they will have no choice.  In addition, if the IMF is pushing from behind, that will significantly speed things up.  The powers behind the IMF have "ways" to motivate any bank not getting into line with more efficient global commerce. 

Share this post


Link to post
Share on other sites
Just now, Hodor said:

Good analysis, but we know that eventually they will have no choice.  In addition, if the IMF is pushing from behind, that will significantly speed things up.  The powers behind the IMF have "ways" to motivate any bank not getting into line with more efficient global commerce. 

Of course they will have no choice. And you know what? Just like the telcos, comms and phone operators weathered the storms of www, voip, skype, youtube, ... so will FI's after some struggle embrace modern fintech. Now that the ultimate solutions are there it is crystalclear that the 500y old system of correspondent banking must break up. Nobody can have doubts about that. The only those bigger banks are doing now is buying some time. And I can understand them. They first have to take some adaptions and measurements before than can close the doors in their most profitable departments....

Share this post


Link to post
Share on other sites
6 minutes ago, kanaas said:

They first have to take some adaptions and measurements before than can close the doors in their most profitable departments....

They are stalling...  

Share this post


Link to post
Share on other sites
5 minutes ago, Hodor said:

They are stalling...  

Actually I doubt that they are stalling. Both Ripple and the bigger institutions know very well what they are doing. It is just that the incumbents want to control the pace. And they found a great controller of speed in SWIFT. From side of Ripple I for me found this one from JK interesting and more or less an evidence for such an analysis.

Share this post


Link to post
Share on other sites

In the table, what do 'RC Cloud' and 'XPR PoC' indicate? Are those banks planning to use XRP and RCL? 

 

If so, that is very good news as many people believe that the use of XRP is not imminent. 

Share this post


Link to post
Share on other sites
3 hours ago, Honeysyd said:

In the table, what do 'RC Cloud' and 'XPR PoC' indicate? Are those banks planning to use XRP and RCL? 

 

If so, that is very good news as many people believe that the use of XRP is not imminent. 

RC Cloud is a Ripple product. PoC is 'Proof of Concept'.

Share this post


Link to post
Share on other sites
3 hours ago, Honeysyd said:

In the table, what do 'RC Cloud' and 'XPR PoC' indicate? Are those banks planning to use XRP and RCL? 

 

If so, that is very good news as many people believe that the use of XRP is not imminent. 

I believe RC Cloud & Network (Ripple) both refer to RCL in slightly different permutations, with the former including market-makers.

Share this post


Link to post
Share on other sites
7 hours ago, Roborovskii said:

I believe RC Cloud & Network (Ripple) both refer to RCL in slightly different permutations, with the former including market-makers.

 

7 hours ago, Mercury said:

RC Cloud is a Ripple product. PoC is 'Proof of Concept'.

Your answers may imply that the use of RC Cloud and XRP PoC is not a sign of using XRP. Am I right? 

Thank you for the comments. :)

 

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now

Sign in to follow this  

×