Jump to content
Sign in to follow this  
TastySoda

This price takes a beating and keeps driving up

Recommended Posts

FIs may choose to keep their own fiat capital to make cross-border payments, however doing so means they are subject to the same transaction fees for they face today, or possibly lower ones as they migrate to other payment solutions. They could use Ripple as a distributed ledger system still, but not rely on the RippleNet to provide the payment system.

However, if they choose to use XRP as the method to move transactions across the RippleNet from point A to point B in their own networks, as well as to other FIs on the RippleNet, they will see their transaction fees drop dramatically. Using a common currency in their escrow accounts (XRP) they can see - according to Ripple - fees drop to 30% of their current methods - if not more - for EACH transaction.

 

If you were an FI, and had the chance to reduce your transaction fees by 70%, as well as reduce your varied distributions of fiat capital stored in a wide array of country and institutions - you would almost be crazy not to use XRP.

Share this post


Link to post
Share on other sites

Well, look at the price now. We were conned. Such a disappointing "announcement." Nothing but a conference, as I - to my chagrin - correctly and accurately predicted. So sad.

Share this post


Link to post
Share on other sites
Sign in to follow this  

×
×
  • Create New...