Blockchain Insider interview with CTO Stefan Thomas

[Trisky]

https://fireside.fm/s/Fs_9V6FE+eKvWBdGz

Interview starts @36:06

[Wobile]

Thanks,  this was good.

[Dsimmo]

Yes. This was very good.

[Qatrikias]

The fact that people are so slow to understand the market Ripple is shooting for is encouraging -- more time for a head start.

[kanaas]

13 minutes ago, Qatrikias said:

The fact that people are so slow to understand the market Ripple is shooting for is encouraging -- more time for a head start.

Exactly, seems like nobody (except some Japanese) really understand the power of this tech. They're all just waiting for the elephant to show up on their parties....To late to take measures

They caught me with Ripple and RCL as an interesting IOU network.
By adding Interledger as an open standard for value moving they made me bullish... just don't understand why the financial sector seems to keep shy on it... Or is it just the proverbial calm before the storm?

[Qatrikias]

1 minute ago, kanaas said:

just don't understand why the financial sector seems to keep shy on it... Or is it just the proverbial calm before the storm

I think the fin sector is shy about everything. Imagine holding hundreds of trillions of dollars of the world's wealth. You can pretty much call the shots. And if you call the wrong shot, heads roll. As for their slowness to adopt XRP, the liquidity right now is no where close to useful to institutions of that size. In fact, combine the entire trade volume of the crypto space and you're barely touching the kind of liquidity required.

It's going to take time.

[R-2-D-2]

Thanks for sharing this, we 'll see changes coming in Q3 and Q4 be patient !

[Xrphunter]

I agree they dont understand the whole concept of ripple, later this will show up. I am so amazed how they did with so much fast transfers plus with very low cost ?

[kanaas]

50 minutes ago, Qatrikias said:

I think the fin sector is shy about everything. Imagine holding hundreds of trillions of dollars of the world's wealth. You can pretty much call the shots. And if you call the wrong shot, heads roll. As for their slowness to adopt XRP, the liquidity right now is no where close to useful to institutions of that size. In fact, combine the entire trade volume of the crypto space and you're barely touching the kind of liquidity required.

It's going to take time.

I know liquidity is always that recurring argument. But looking over the Financial Industries this actually is a non-argument. Who's creating todays liquidity between currencies you think? Right! They' are their own solution for that matter... But what do they do? They sit and wait... and in the mean they let those like Gatehub, Bitstamp, Rialto prepare to  run away with the bread and butter... We'll see, but I expect, besides Ripple, some other new players to gain ground in a more than marginal role... around the interledger protocol.... the script is already written, the show can start any time "soon" .... just wonder about the cast.

[XRPage]

It was pretty good except for the XRP being 'stable enough'. Lets keep the good news coming up!

[Qatrikias]

3 minutes ago, kanaas said:

I know liquidity is always that recurring argument. But looking over the Financial Industries this actually is a non-argument. Who's creating todays liquidity between currencies you think? Right! They' are their own solution for that matter... But what do they do?

That's a reasonable point. And I hope one day we'll have the big players in the XRP pool as well. But I wouldn't expect them to rush in. Nor would I want them to. They hold my money too, and crypto is a risky bet. If they jumped in now, for example, and bought at the prices XRP holders would like them to buy at, what security does XRP offer as a store of value? They could be up 20% by the end of the day, or down 30%. As we all know, an XRP, a bitcoin, an ether, or dollar is only worth what someone will pay for it.

So that's the catch. Liquidity requires buyers and sellers. If you buy and have nowhere to sell, you get to hang out with a useless pile of ones and zeros. Wealth, especially wealth derived from intangible and otherwise useless assets, requires a market. Building new markets is not in a bank's wheelhouse. Profiting on them is. Markets are built by cranks, fools, speculators, visionaries, penny-stock pickers, hodlers, day-traders, entrepreneurs, innovators... you get the point -- a melting pot of the disreputable and the disruptive. Some who will be made rich, some who will be made poor.

After that come the folks satisfied to take profit on fractions of a percent of market fluctuation.

[kanaas]

1 hour ago, Qatrikias said:

That's a reasonable point. And I hope one day we'll have the big players in the XRP pool as well. But I wouldn't expect them to rush in. Nor would I want them to. They hold my money too, and crypto is a risky bet. If they jumped in now, for example, and bought at the prices XRP holders would like them to buy at, what security does XRP offer as a store of value? They could be up 20% by the end of the day, or down 30%. As we all know, an XRP, a bitcoin, an ether, or dollar is only worth what someone will pay for it.

So that's the catch. Liquidity requires buyers and sellers. If you buy and have nowhere to sell, you get to hang out with a useless pile of ones and zeros. Wealth, especially wealth derived from intangible and otherwise useless assets, requires a market. Building new markets is not in a bank's wheelhouse. Profiting on them is. Markets are built by cranks, fools, speculators, visionaries, penny-stock pickers, hodlers, day-traders, entrepreneurs, innovators... you get the point -- a melting pot of the disreputable and the disruptive. Some who will be made rich, some who will be made poor.

After that come the folks satisfied to take profit on fractions of a percent of market fluctuation.

Yep, but one must not forget the amount of (fiat)value today is hold in "reserve". A big stake is sitting in N(V)ostro Accounts to facilitate and to hedge against currency risks for international trading. When XRP may find its place in the forex trading machines, it will inevitable become attractive to have some in those hedging portfolios. Ripple even hopes all Nostros to become replaced by one XRP hedge. While it can come close, I doubt it will be going that far. In very small trading lines (ie just between EUR and JPY) it might be a good idea to have some foreign fiat in the hedge as well, but for the more broader traders and banks, it might indeed become better to have mainly a (stable and trustful!) XRP as largest pile on the hedge... It might look like chicken and egg, but a stable XRP is attractive as reserve and an XRP that is largely traded and used as reserve will become stable as a fact.... And Ripple has some XRP stack in reserve to keep it stable enough.... First and most important task now is to build on that liquidity.... And if JK has it right, that will be starting this year...

[aye-epp]

On 7/7/2017 at 3:25 AM, Ripplezzzz said:

https://fireside.fm/s/Fs_9V6FE+eKvWBdGz

Interview starts @36:06

great discussion here, thanks much for sharing

[LaBelleSaison]

In response to a question as to why XRP is necessary, Stefan emphasized that XRP as the bridge currency which is free from any counterparty risk can relieve banks from having to keep nostro accounts at huge cost, instead of or in addition to often-mentioned XRP's benefits of high speed and low cost.

This has an important implication because there might appear in the future some other crypto currency(ies) with a higher speed and lower cost than XRP as a coin itself but XRP will remain the only currency which can provide counterparty risk-free bridge currency role in the Ripple Solution. The very character of XRP being the native digital currency of Ripple gives is unreplaceable strength to survive and flourish in the Ripple's ecosystem. 

 

  

[namini]