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XRP: Master of THE Use Case


Hodor
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I often get asked a question like "Does Ripple support X" where X is something people often pitch Bitcoin for. And the answer is that unless the X is international payments, Ripple probably doesn't have a go to market strategy, a marketing team, partnership agreements, revenue targets, a supported software product, and so on. But, of course, people are welcome to use XRP for any application they would like. And they may find that the lower transaction fees, faster confirmation, and additional features (such as multisign, key rotation, arbitrary assets, community credit, and so on) are valuable to them. We're absolutely thrilled to see that happen. I would love to see organic growth around XRP.
@JoelKatz, I'm quite new to the space, and a hodler of XRP for sure. I simply wanted to say how much I/we appreciate your leadership and transparency here on XRPchat. I'm sure much of the conspiracy speculation by some can be frustrating, especially when you can't always share info to set the record straight. Simply know how appreciated your input is to us noobs in keeping anxiety to a minimum. I hope your new dual-role with Ripple and outside developers keeps you happy and fulfilled. You and the Ripple team are on the cusp of changing the world, and we're privileged to support the endeavor.


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1 hour ago, JoelKatz said:

I often get asked a question like "Does Ripple support X" where X is something people often pitch Bitcoin for. And the answer is that unless the X is international payments, Ripple probably doesn't have a go to market strategy, a marketing team, partnership agreements, revenue targets, a supported software product, and so on. But, of course, people are welcome to use XRP for any application they would like. And they may find that the lower transaction fees, faster confirmation, and additional features (such as multisign, key rotation, arbitrary assets, community credit, and so on) are valuable to them. We're absolutely thrilled to see that happen. I would love to see organic growth around XRP.

Excellent! This is exACTLY my point of view! Please correct me if I am wrong, but this is the way I see it:

SWIFT sells software to banks. Ripple Labs also has software to sell, verrrry similar to SWIFT's. SWIFT just offered GPI for their customers, yet the customers need to implement their own GUI into their already purchased software. GPI essentially tells customers where their money is held up, doing nothing to help move the asset faster. Ripple's software already had this feature, AND they offer a readily available digital asset to accompany RCL/ILP whereas SWIFT still relies on outdated technology.

Isn't this the "Clear Use-Case" that you guys are targeting? Cross-border remittances rely on SWIFT, right? (I could be wrong). 

This is just one use case, and I made a post replying to people's skepticism about the price of XRP. 

But I also see XRP being used for mobile payments like Apple/Google pay. I see institutions holding onto piles of XRP instead of FIAT, investors holding piles of XRP and MORE use-cases being created as the supply is locked from month-to-month. There is only a certain amount of XRP, it is a deflationary currency and is quickly making headway. 

What are your thoughts? Obviously NDA is to be respected, and I won't ever push. Talk about what you can :)

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22 hours ago, JoelKatz said:

And they may find that the lower transaction fees, faster confirmation, and additional features (such as multisign, key rotation, arbitrary assets, community credit, and so on) are valuable to them. We're absolutely thrilled to see that happen. I would love to see organic growth around XRP.

When I see payment channels list off it's use cases or what it's meant for, I think it's pretty obvious that Ripple is also targeting micropayments. 

The one thing I'm confused about, and maybe you can add your two cents, is "does Ripple view micropayment / payment channels as a complement to their Forex capabilities, or is considered just impressive enough to stand on its own as a payment settlement back-end solution?"

@JoelKatz Thanks for posting regardless of whether you feel you can comment on this last question! 

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Excellent! This is exACTLY my point of view! Please correct me if I am wrong, but this is the way I see it:
SWIFT sells software to banks. Ripple Labs also has software to sell, verrrry similar to SWIFT's. SWIFT just offered GPI for their customers, yet the customers need to implement their own GUI into their already purchased software. GPI essentially tells customers where their money is held up, doing nothing to help move the asset faster. Ripple's software already had this feature, AND they offer a readily available digital asset to accompany RCL/ILP whereas SWIFT still relies on outdated technology.
Isn't this the "Clear Use-Case" that you guys are targeting? Cross-border remittances rely on SWIFT, right? (I could be wrong). 
This is just one use case, and I made a post replying to people's skepticism about the price of XRP. 
But I also see XRP being used for mobile payments like Apple/Google pay. I see institutions holding onto piles of XRP instead of FIAT, investors holding piles of XRP and MORE use-cases being created as the supply is locked from month-to-month. There is only a certain amount of XRP, it is a deflationary currency and is quickly making headway. 
What are your thoughts? Obviously NDA is to be respected, and I won't ever push. Talk about what you can [emoji4]

I can see I repeat myself, as well as what others have said [emoji5]
Try the hickory salmon.... I'll show myself out

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5 hours ago, Hodor said:

When I see payment channels list off it's use cases or what it's meant for, I think it's pretty obvious that Ripple is also targeting micropayments. 

The one thing I'm confused about, and maybe you can add your two cents, is "does Ripple view micropayment / payment channels as a complement to their Forex capabilities, or is considered just impressive enough to stand on its own as a payment settlement back-end solution?"

@JoelKatz Thanks for posting regardless of whether you feel you can comment on this last question! 

You're welcome. I actually haven't really thought about that. I can't think of any obvious way they directly complement each other. They were aimed at very different use cases. But maybe someone else will think of a way.

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Cross border payments means Internet payments. That is the mother of all payments, that will power a truly global economy. Don't get fooled by Ripples's modesty, they are aiming for the Big Pie.

The beauty of it is most of the pie does not yet exist. It will be created when "sending money is as easy as sending email" has become a fact. Trade that currently is not monetizable, like the exchange of information, will become monetizable. Things like you typing about your exprtise in a chat window. Things like me liking your music, article, movie, comment.

I expect that the size of the economy that will be created will exceed the size of the economy of today. The possible usecases will be far beyond our imagination.

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2 minutes ago, lucky said:

Cross border payments means Internet payments. That is the mother of all payments, that will power a truly global economy. Don't get fooled by Ripples's modesty, they are aiming for the Big Pie.

The beauty of it is most of the pie does not yet exist. It will be created when "sending money is as easy as sending email" has become a fact. Trade that currently is not monetizable, like the exchange of information, will become monetizable. Things like you typing about your exprtise in a chat window. Things like me liking your music, article, movie, comment.

I expect that the size of the economy that will be created will exceed the size of the economy of today. The possible usecases will be far beyond our imagination.

I find you very attractive when youbsay things like that...

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1 hour ago, kanaas said:


@JoelKatz being thrilled.... must be something real big going on behind scenes 

Joke aside, this reaction of JK intrigues me somehow. Trying to connect some dots.
 

Always found it odd that one of the founders of the Ripple technology goes working for third parties. I can understand Ripple sending out some of their best coders or developers to help premium clients with their development on Ripple, but a chief cryptographer, who respires, eat and sleeps with all around his beloved child called Ripple? That's not for just a small fish... This has to go about a top line project or company.... It can of course be for another reason like there are "taking it more easy and having more family time" - Of course NOT... Or wanting to go for a new challenge... I do NOT believe that otherwise he would go 100% for it and not just "part time"... I really do not see another reason than a very important project from a very important client that has NOTHING to see with cross border payments....

Here's another post of JK where he hardly can suppress his enthousiasme ...

So he's going to work "part time" on an enterprise grade wallet. Must be for a real big fish, not for Xborder in the first place....
If I were a journalist, I would know what to do .... "follow the man" and where he's going to hang out that "part time" somewhere in the valley.
(BTW didn't he mention Apple's cash position?)

 

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5 hours ago, lucky said:

Cross border payments means Internet payments. That is the mother of all payments, that will power a truly global economy. Don't get fooled by Ripples's modesty, they are aiming for the Big Pie.

The beauty of it is most of the pie does not yet exist. It will be created when "sending money is as easy as sending email" has become a fact. Trade that currently is not monetizable, like the exchange of information, will become monetizable. Things like you typing about your exprtise in a chat window. Things like me liking your music, article, movie, comment.

I expect that the size of the economy that will be created will exceed the size of the economy of today. The possible usecases will be far beyond our imagination.

The term being applied consistently to this monetization is "micropayments", which kind of threw me off, because it's really about the monetization of the transaction set you talked about.  Only after I read a few articles on micropayments did I truly understand the potential. 

Right now it's starting out slowly, but you're absolutely right - with the correct platform, not only can internet based payments be enabled, but payments for very small transactions could be taken over by the very low processing fees that XRP enables

 

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