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Krungsri Bank adds real-time global transfers

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http://www.nationmultimedia.com/news/business/corporate/30319701

Achieving the success of this technology-based enhancement, Krungsri has been supported by companies under Mitsubishi UFJ Financial Group (MUFG), in strengthening connectivity with the global network and realising the real-time global funds transfer service. MUFG is Japan’s biggest financial group, and among the top five largest in the world.

In addition, under the Global Payment Steering Group, a body joined by another six leading financial institutions, MUFG played a key role in establishing the necessary framework and guidelines related to Blockchain’s Interledger to facilitate international funds transfer transactions.”

 

Global Payment Steering Group

http://www.financemagnates.com/fintech/news/ripples-global-payments-steering-group-adds-btmu-constituency/

Look at these names:

Ripple, a San Francisco-based blockchain firm, has secured a new member of its Global Payments Steering Group (GPSG), adding MUFG’s banking arm, the Bank of Tokyo-Mitsubishi UFJ (BTMU).

BTMU is the third largest bank in the world and largest bank in Japan – its addition gives the GPSG its first Japanese banking member. BTMU joins the existing group of Bank of America Merrill Lynch, Santander, Standard Chartered, Westpac Banking Corporation, Royal Bank of Canada and CIBC. The GPSG helps oversee the maintenance and development of payment transaction rules and formalized standards for the commercial use of Ripple’s network.

 

 

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I think this subtle adoption style is Ripple's MO. They're silent killers of Bitcoin and Ethereum. Kinda like the iceberg effect. You barely know they're actually working on anything. They reveal just enough information to make some small "RIPPLES" in the pond, yielding all the spotlight and focus to Bitcoin and Ethereum, all the while plans for financial world domination is happening down below. I believe there is going to be a reckoning in the coming months/years with regards to regulations concerning cryptocurrencies. You already see and hear the quiet rumors of countries like US and China testing there own digital currency: 

1. https://news.bitcoin.com/fedcoin-u-s-issue-e-currency/

2. https://www.technologyreview.com/s/608088/chinas-central-bank-has-begun-cautiously-testing-a-digital-currency/

You have so many Bitcoin and Ethereum fanatics screaming about how decentralized Bitcoin and Ethereum are and how they are in control of their money and the "Government" can't stop them. From an American perspective, I truly believe that they are living in a fantasy world of make believe if they think good ole "Uncle Sam" is going to allow Bitcoin or Ethereum to undermine the "$". They're like Alice in Wonderland going down that rabbit hole. We don't call it the "Almighty Dollar" for nothing. Now, I'm not saying that cryptocurrencies won't play a part or have a role in the financial markets, but it is not going to be this maximalist utopia that many imagine it will be. This is why the more I think about it the more I respect the foresight of the developers of Ripple's use for XRP. Making it an agnostic currency (empty vessel) upon which to serve as a "courier of value".  It does not compete with any currency in and of itself. To me, it's more of a "digital courier of value" than it is a digital currency. The value it acquires is determined by what is ascribed to it, which could be anything of value Bitcoin, Ethereum, Litecoin, Fiat, or other XRP. This is the true value of XRP.  It is my opinion that once Japan comes online and people can see the combination of Ripple ILP/RC and XRP the "light bulb" will come on and people will be able to appreciate how much more depth there is to XRP compared to other cryptocurrencies. I think most people are so caught up in the fact that it's not a decentralized digital currency and they claim (with no proof) that it's controlled by the banks etc. Yet, they don't seem to say nothing about 55-60% of Bitcoin being controlled by 6 miner pools in China or Ethereum dominated by only 3-4 mining pools. At least with XRP (even though 60-65% is owned by the company) there is a framework/Escrow (going into effect the end of this year) that regulates how much can be released into the market (approx. 1 billion a month) and any unused portion will be placed back into escrow and the cycle starts all over. They also built in deflationary measures in that a small quantity of XRP is destroyed with every transaction.  With Bitcoin and Ethereum you have no idea as to how much is being mined at any given period. It is my opinion that there will be some bubble bursting in the future for Bitocoin and to some extent Ethereum. The only thing that will keep Ethereum afloat is the fact that, like Ripple, the is substance there. You have the Ethereum Foundation developing a smart contract platform that has some pretty big players behind it.  At-any-rate, this is just my 2 cents.

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