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Title: Is Ripple in BIG TROUBLE? The big banks are using another blockchain Post by: neatworld on July 04, 2018, 10:57:57 AM "A group of European banks has announced that they have completed a series of cross-border financial trades through a jointly developed blockchain platform.
According to an announcement on Tuesday, the live transactions on We.Trade were executed over the past five days between 10 companies and were facilitated by four partner banks. HSBC, one of the nine institutions involved, claimed that three of its clients took part in the platform test. Built on IBM's Blockchain Platform, We.Trade was established by Deutsche Bank, HSBC, KBC, Natixis, Nordea, Rabobank, Santander, Société Générale and UniCredit, in a bid to boost the efficiency of cross-border financial transactions. As reported by CoinDesk in April, We.Trade was planning to begin testing the platform in May with an expected commercial release in the summer. At the time, Société Générale told CoinDesk that the focus on small and medium-sized businesses (SMEs) trading within Europe enabled the platform to scale quickly. Parm Sangha, IBM's blockchain lead in Europe, commented in today's announcement: "As We.Trade has moved from pilot applications to conducting live transactions across borders, it has demonstrated the power of blockchain technology in an enterprise setting." Currently, We.Trade operates in 11 European countries, snd according to Roberto Mancone, the platform's chief operating officer, the next phase will see participants "getting buy-in from additional banks and their customers in Europe and further afield." https://www.coindesk.com/european-banks-complete-first-live-blockchain-financial-trades/ ----------------- End of original article------------------- Can anyone elaborate what this means for Ripple? Does XRP have anything to do with this? Are We.Trade direct competitors or can they coexist with XRP? Would love some insight from those in the know! Title: Re: Is Ripple in big TROUBLE? The big banks are using another blockchain Post by: neatworld on July 04, 2018, 01:16:42 PM These are some huge names in terms of banks. If I remember correctly, Santander was also using Ripple. Will these banks dump Ripple in favour of We.Trade instead?
Title: Re: Is Ripple in BIG TROUBLE? The big banks are using another blockchain Post by: Nivelir on July 04, 2018, 01:19:26 PM The Ripple project is very popular today among people who do not know much about crypto-currencies, it seems to me that today people do not understand what they are investing in. But the most important thing is not to invest in Ripple
Title: Re: Is Ripple in BIG TROUBLE? The big banks are using another blockchain Post by: fedor3327 on July 04, 2018, 01:27:17 PM There will be many many more currencies like Ripple. Remember this is only the beginning.
Right now Europe is trying to counter the thread posed by the USA on IRAN. The biggest concern is that of payment. Crypto is one way of solving this problem for them as currently the banking system is controlled by the USA. This comes as no suprise. expect there to be a lot more within the banking sectors soon. Title: Re: Is Ripple in BIG TROUBLE? The big banks are using another blockchain Post by: Yudhisthir on July 04, 2018, 01:27:53 PM It's great to hear that they are using a blockchain. What users need is fast, safe and cheap transaction through any means whether it be ripple or anything else. This eventually proves blockchain are the future of banking.
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