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Author Topic: -- Ripple -- Japanese banks will start using XRP this year  (Read 2895 times)
itsonlikedonkeykong
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August 09, 2017, 11:34:27 PM
 #41

Good news indeed for all of us tireless HODL-ers!

I should have left them alone years ago.
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wxa7115
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August 10, 2017, 03:21:11 AM
 #42

Lets hope it goes to an ATH!
It seems too early to know that, ripple is a good coin do not get me wrong but until we see dozens of banks using this and being successful at doing so then I think I will reserve my judgment about this coin, it is promising but at the moment that is it.

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...........ICO            Dec 1st – Dec 30th............
       ............Open            Dec 1st- Dec 30th............
...................ANN thread      Bounty....................

styca
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August 10, 2017, 04:32:31 PM
 #43

Whats stopping the "banks" from creating there own ripple like tech?

Nothing, but why would they when they can already use the Ripple solution? Also how do they gain an advantage by using their own system? Unless you're talking about them using their own token instead of XRP.  So yes, they could use their own system and own token to replace both the Ripple solution and XRP... But Ripple has a huge first-mover advantage here, they've been working at this for years, they've moved far beyond proof-of-concept... they're already at advanced stages with the relevant legal authorities and actively building liquidity in the target corridors. By the time any competitor gets off the ground, Ripple and XRP will already be the industry standard.

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August 10, 2017, 05:46:35 PM
 #44

Really great news, i hope that the price will finally go up, because it is still very undervalued at the moment.

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August 10, 2017, 06:16:22 PM
 #45

Whats stopping the "banks" from creating there own ripple like tech?

Nothing, but why would they when they can already use the Ripple solution? Also how do they gain an advantage by using their own system? Unless you're talking about them using their own token instead of XRP.  So yes, they could use their own system and own token to replace both the Ripple solution and XRP... But Ripple has a huge first-mover advantage here, they've been working at this for years, they've moved far beyond proof-of-concept... they're already at advanced stages with the relevant legal authorities and actively building liquidity in the target corridors. By the time any competitor gets off the ground, Ripple and XRP will already be the industry standard.

There is some dreamers around incredible.
Banks dont dance to the music a third party plays . Banks play and you dance not the other way round.

Singapore’s central bank (MAS) and
•   Bank of America Merrill Lynch
•   BCS Information Systems
•  Credit Suisse
•   DBS Bank Ltd
•  The Hongkong and Shanghai Banking Corporation Limited
•   J.P. Morgan
•  Mitsubishi UFJ Financial Group
•  OCBC Bank
•  R3
•  Singapore Exchange
•  United Overseas Bank

got together and decided to copy past xrp and build the own Distributed Ledger Technology (DLT) Database that is spread across multiple sites, countries or institutions.

Banks where never using xrp in first place, some have a working agreement with Ripple. From a technical standpoint a single xrp works just as well as billions.

Project Ubin SGD on Distributed Ledger.pdf

Notice the heard "Ubin".

Secondary link direct from Singapore Central Bank
http://www.mas.gov.sg/~/media/ProjectUbin/Project Ubin SGD on Distributed Ledger.pdf











Hodor7777
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August 10, 2017, 07:20:00 PM
 #46



Miss-information from a poster whose singular mission is seemingly to confuse readers about XRP and Ripple.  

If readers want to know more about XRP and Ripple, they need to read posts by a much more respected Bitcointalk poster - JoelKatz (a.k.a. David Schwarz)

Here's what he said about XRP's strategy (source https://www.xrpchat.com/topic/4029-explaining-xrp/?do=findComment&comment=39074):

Explaining XRP

The abridged model is this:

1) Ripple gets banks to use its payment technology.

2) Banks integrate Ripple's payment system into their system.

3) This helps to eliminate all the technical obstacles to banks routing payments through a crypto-currency. (Regulatory, compliance, business rules, integration effort, etcetera.)

4) Banks use the system to clear payments with each other, probably using mostly ILP. (ILP is a protocol that permits atomic, cross-ledger payments. Most importantly, it allows a "connector" to facilitate the payment even if that connector is not trusted by either the sender, the recipient, or the source and destination financial institutions.)

5) Ripple tries to make XRP the premium connector by targeting inefficient corridors.

6) If XRP can efficiently bridge X% of payments between banks that use Ripple, it will.

7) This will increase the demand for XRP as connectors need XRP to buy the destination currency for their trades.

Cool If XRP is cheap to trade with other currencies, people who don't know what currency they'll need next may hold XRP.

9) If XRP is cheap to trade with other currencies, people who are willing to buy any currency they can get cheaply may hold XRP.

10) This can lead to a cycle of increasing demand.

Ripple may or may not succeed. Ripple's strategy may change. But that's Ripple's plan, in summary.

Or, even shorter, build a massive, level playing field in which assets can compete to bridge payments, then try to make XRP a winner on that playing field.

This is an ambitious, maybe even crazy, plan. But Ripple has raised tens of millions of dollars, has over a hundred full time employees, and our successes to date speak for themselves. That is, of course, no guarantee of success.


faatipoke
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August 10, 2017, 07:25:38 PM
 #47

I have lost my faith in ripple and similar coins. Banks can use Ripple, but I do not see a usage for XRP coin
Hodor7777
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It’s easy to confuse what is with what ought to be


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August 10, 2017, 07:30:33 PM
 #48

I have lost my faith in ripple and similar coins. Banks can use Ripple, but I do not see a usage for XRP coin

Which is why you clicked on the topic, navigated to page 3, and took the time to respond. 

Right, right... 

At its core, I see a lot of fear in posts like that but not much else.  Let's be honest ...  you really are fearful that XRP will catch on in a big way and undermine your current investments, correct?

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