Hello friends
,
As I am further looking into Ripple. As far as I understand it is a banking settlement "blockchain". Looking at other applications and clearing houses such as SWIFT or SEPA, these seem to have a function of ensuring that the sender has the funds it is looking to move and that that the receiver is actually due to receive this exact amount.
But when using Ripple, rather than SEPA, won't this simply enable banks to conduct transactions without any intermediary regulating their activity?
The reason I bring this up is because I have come to understand that most flaws on a blockchain happen off chain and if settlement layer only shows z when maybe a SEPA transaction would show XYZ info about a transaction history..
I dunno am I making any sense here?
