Ripple, eCommerce, Global Payments, FX, ILP, and XRP

[Bitpam]

Today I was just lurking around looking at old Ripple news when two links in particular caught my eye.

One was the Shopify demo testing a payment using Interledger.

And another was an interview at Money 20/20 Europe with Stefan Thomas explaining the relationship between Ripple, Interledgers and XRP.

https://11fs.com/blog/stefan-thomas-ripple-interledgers-xrp-relationship/

Since the Interledger protocol is designed for interoperability and reach, what if Ripple was able to connect the FX market, eCommerce, and cross border payments to create one massive network of international liquidity? This might sound like a long shot but I think it is possible given that Ripple's technology is the best solution for all of these markets.

Ecommerce has trillions of dollars in sales and whatnot per year, while the FX market handles over 5 trillion per day! 

There was also an interesting except from a document by Earthport (which may be partnered with Ripple) on cross border payments. It reads from page 12:
 

Quote

"B) The bulk of eCommerce transactions are domestic; that is, consumers and businesses buying from eCommerce merchants based in their own countries. However, approximately 15% of eCommerce transactions are made by overseas buyers. This is fueled by large eRetailers in developed markets that localize their sites for sales to consumers in rapidly growing markets such as China and Brazil. In some markets (e.g., Canada and Australia), cross-border eCommerce is as high as 40%. PayPal reports that nearly 25% of its transactions are cross-border; a significant portion of its volume is eCommerce, although it also handles significant B2B and remittance payments."

https://www.earthport.com/wp-content/uploads/2014/02/Cross-Border-Payments-Perspectives-A-Glenbrook-Earthport-Research-Brief.pdf

What was said there is huge! There is obviously a cross border eCommerce market judging by those stats, and with the current system this is costly and sluggish.

I don't want to go on and on about my thoughts and opinions, so I want to hear what you guys think of this! I am strongly convinced that Ripple is going to be a household name by 2020, just like Google, Amazon, and Apple. 

Made a post on Twitter about it as well to try to spread the word! 

 

Edited August 19, 2017 by Bitpam

[pisohamate]

Actually,no its not going to be RIPPLE. More like Blockmarket Web

[darnoc]

@pisohamateWhile blockmarket web type labels will be used to describe the whole market, I believe the Ripple branding will certainly be alive and well. It's sort of like saying that everyone uses the term online commerce but fails to identify Amazon or Alibaba. As ILP becomes more widely used and banks start connecting usd ledgers, someone is going to capitalize on the opportunity to develop a very useful peer-to-peer payment network using ilp and xrp. I have to imagine that Ripple will make sure to keep their branding clearly identifiable. 

[pisohamate]

I get what you mean. Actually, Blockmarket Web is owned by Blockchain Foundry and is poised to comoete with eBay,Amazon,Paypal and Alibaba? Blockchain Foundry is Syscoin.

[pisohamate]

I love my XRP, my wife and son bought XRP's. And i did a lot of DD about RIPPLE/XRP

[CurrencyGuy]

22 minutes ago, pisohamate said:

I love my XRP, my wife and son bought XRP's. And i did a lot of DD about RIPPLE/XRP

Well as long as you proclaim your love for XRP every now and then, it must be ok to constantly promote all the other coins you post about.  And using 5 small posts at a time instead of one meaningful post to make it look like you're an active contributor.  I'm sure that's ok.

[Rippology201]

This is all a bit heady for this newbie, but isn't that what the partnership of Ripple and Bitfury is all about:  "Blockchain services firm Bitfury and payments network provider Ripple are releasing new code that makes it possible to conduct Lightning-style transactions across a range of both blockchain and legacy payment networks. ...  The companies have released code that integrates the Lightning Network with Interledger, a protocol designed by Ripple for making transactions between different types of blockchains."

Anyway, I still wonder how does XRP fair in all of this.  ciao.

[hw40]