XRP vs REDDcoin For Micropayments In Social Media

[ObservantOne]

I remember Stefan Thomas talking about a "theoretical" use-case where you have an author/publisher who owns a webpage and charges people a fee to access the information.

He said (in a nutshell) that the plug-in for the browser would conduct the transaction in real-time, allowing payment to the author.

REDDcoin does this as well. They have a tipping platform that does just this. 

Admittedly, they do not provide information about their devs (all under pseudonyms (which is worrisome for me)), there is no information on a board of directors, board of advisors, key investors, recent news, SEC regulatory compliance. Nothing. 

The site looks neat, but other than that....my question: is Ripple targeting these micropayments as well? There was this top-down approach, and I think, now that they have larger institutions looking to use ILP, they can focus on these Micropayments that happen daily. 

What are your thoughts?

Edited June 5, 2017 by ObservantOne

[T8493]

Some browsers (probably Chromium/Chrome for Android) already have native support for ILP and XRP plays very nicely with ILP.

 

[wiredless1]

2 hours ago, ObservantOne said:

...is Ripple targeting these micropayments

 

2 hours ago, ObservantOne said:

...now that they have larger institutions looking to use ILP, they can focus on these Micropayments that happen daily. 

 

Tempting as these may be with respect to increasing visibility and creating a more unified holistic ecosystem, I disagree that this is something Ripple "can focus on".

The management of the POS and micro-payment architecture might be within reach but I consider it over-reach for the Ripple strategy at this time. Migration, integration, support and feature enhancement is an "after-sale" service cycle that is monumental regardless of whether a company uses a top-down model or a bottom-up model.

I think we agree that there's nuance and complexity to this new finance model being successfully demonstrated by Ripple. It's not an easy implementation even if it's technically compelling, not necessarily because it trashes old models (which is a prototypical crypto approach so far in the industry), but because it asks the deep minds of institutional mindsets to think counter-intuitively. This is a huge challenge, one that plays into everyone's angst about price "stagnation" (for three weeks :-)  ).  

Integrating an RO system (I think of it as Reverse Osmosis of the banking system, taking the impurities out) without trashing the existing systems will take years even if a company has a four year headstart (as Ripple has). We have seen, and will continue to see, progress in quick bursts, but I believe that asking Ripple to now shift its focus to a bottom-up micro-payment model is suicide.

Unless...some serious entrepreneurs utilize the scaffolding of the top-down model into an integration IT/ Crypto firm that focuses on the micro-payment market. An application partner is a better way to gain traction in this segment, IMO.

[ObservantOne]

I should have clarified. I am not saying they are, or they aren't. I was really suggesting that it would seem to be a prudent time to be working with companies regarding micro-payments/mobile payments. It was really an observation based on a couple things that have been said by Stefan and some other people I was listening to. If I recall correctly, Japan would be using XRP for both macro and micro payments, throughout their system. 

If this is true, it would seem reasonable to assume that all of the banks in the Japanese Consortium would WANT to have a stash of XRP, as it would allow them to use it for both, as well as the asset actually appreciating at the same time. 

If I can use XRP for micro-payments, it can be used for micro-payments. I get what you are saying about some serious entrepreneurs, but what about the non-disclosure agreements that Ripple doesn't talk about. I'm not saying, "What about the non-disclosure agreements-" as if I know something. I don't know anything. What I DO know is that there ARE non-disclosure agreements,  where the infrastructure is being set-up behind closed doors. Not that it is wrong, obviously.

We don't know if they are already working towards addressing micro-payments on their own. We can only hope that they do something through google/apple pay. These micro-payments are what I am talking about.