|
March 06, 2013, 11:00:05 AM |
|
I've been aiding remittance to Malaysia and Norway using bitcoins. (If anyone is interested in transfers of bitcoin to either country, or fiat between the two, please contact me.)
I was curious as to whether Ripple could add some value here, but I fail to see how exactly. If a client wants to give me $1000 on ripple, I'd have to trust him that amount first? I don't see how any merchant / service provider could operate like that, unless they really know their clients well.
What I initially envisioned was that a network of ripples would even out money transfers back and forth with an occasional settling of imbalances through a bitcoin transfer. Can someone help me outline how this could work? I don't see bitcoin integrated in Ripple yet, so having a settlement of debts happen without the risk of one party not reciprocating is missing.
|