They keep taking about the ripple's tech. Can I ask what tech is it other than being a centralized database?
Well, it's a centralized blockchain. Which suffers the counterparty risk of a centralized database, but has some of the positive aspects -- such as universal auditability -- of a blockchain.
Am I missing something? How is it going to make a difference over SWIfT?
SWIFT is slow, cumbersome, rent-seeking, not universally-auditable, and carries the counterparty risk of its centralization. Reimplementing SWIFT with XRP at its core would eliminate or vastly reduce several of these issues. So yes, you are missing something. The perspective of
those entities for which SWIFT provides value - namely, financial institutions.
I mean the shit we get by using SWIFT has nothing to do with its tech at all. We stay away from it because it is centralized.
Sure,
we do. But financial institutions? Not so much. So SWIFT isn't for you. Why would you expect it to cater to your desires, when it was built for large financial entities?
So why the fuck they act like ripple is solving a problem?
It is. See above.
Bitcoin solved it already by kicking the centralized shitheads out.
Until Bitcoin grows by a couple orders of magnitude, it is not a solution for the entities that actually use SWIFT.
Am I wrong?
Not
wrong exactly. Just looking at the issue from an irrelevant viewpoint.
I mean, I have no need for an airlock. But to claim that 'we've already solved this problem - it's a hinged entry door' does little to solve the astronauts' problem of retaining breathable air within a spacefaring vessel.
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