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Hodor

Ripple and The Keys to Asian Commerce

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Do you get the feeling that while Asian, Indian banks are ready to use Ripple, some of the US and European banks are still trying to avoid it so as to maintain their massive fee-generating structure relating to cross-border payments?     

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Do you get the feeling that while Asian, Indian banks are ready to use Ripple, some of the US and European banks are still trying to avoid it so as to maintain their massive fee-generating structure relating to cross-border payments?     

It's more than a feeling. It even makes sense when looking at the direction of the money flows. Money tends to leave US and Europe to these end destination countries. These end destination countries depend on remittance and would do a lot to make the rails smoother.

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1 hour ago, Alluvial said:

some of the US and European banks are still trying to avoid it so as to maintain their massive fee-generating structure relating to cross-border payments?

It's one of the only logical arguments that makes sense.  When is an innovation NOT adopted when it would provably save money?  When the money it saves is judged as not enough to offset money currently made as a result of the remittance fee structures. 

When people start questioning why their banks are charging these fees, that's when the questioning could get uncomfortable for the Western banks.  Let's continue to make it uncomfortable!  :ok:

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3 hours ago, Mercury said:


It's more than a feeling. It even makes sense when looking at the direction of the money flows. Money tends to leave US and Europe to these end destination countries. These end destination countries depend on remittance and would do a lot to make the rails smoother.

 

3 hours ago, Hodor said:

It's one of the only logical arguments that makes sense.  When is an innovation NOT adopted when it would provably save money?  When the money it saves is judged as not enough to offset money currently made as a result of the remittance fee structures. 

When people start questioning why their banks are charging these fees, that's when the questioning could get uncomfortable for the Western banks.  Let's continue to make it uncomfortable!  :ok:

Then I say f@#* these western banks.  It seems Ripple's energy would be better focused on getting the Asian, Indian, Central and South American banks on board as well as the mid tier western banks, and companies like Paypal  to adopt Ripple.  The HSBCs of the world will not voluntarily go with Ripple.  It must be forced on them because the rest of the world is using it, and then it will be their decision to embrace it or potentially become another Kodak.   

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