Not investment advice...
but yes, RIPPLE XRP for all intents, purposes, indicators etc may very well become the standard for banks to send and receive money. Some estimates of cross border transfers by banks are up to 14 Trillion per day.
XRP was not created for consumers but for banks, enterprises, and unlike bitcoin and others, was made with understanding it might get regulated.
They have for the past 5 years been laying all the groundwork, partnering with key banking institutions, performing proof of concepts with and for central banks like Federal Reserve, Bank of England, and the central bank in Singapore.
Their blockchain inspired Ledger called Inter Ledger Protocol (ILP) is a fast, interoperable Ledger that can fit onto any banks infrastructure. This system has given banks what they want scalability, privacy, tranperency, fast payments.What it lacks is something called XRP and XRP ledger. This allows not only fast payment with all the above, it enables REALTIME SETTLEMENT. Settlement from one bank to another in a foreign country can take days.
XRP will also free up something called Nostro accounts. No actual money is sent in today's existing technology. Say sarah wants to send $100 to her friend Jim in London. A message, which has a 10% failure rate and lacks transperency is sent fom bank A in Los angeles to Bank B in London. Bank B debits Bank A's Nostro account for $100. It then converts it to Brittish Pound, deducts their enormous fee and gives Jim the balance. Banks and even companies like Apple must have Trillions of dollars tied up in these nostro accounts. If not, they have to use an intermediary market maker-again, big fees.
XRP the digital currency and payment system is now in the final phase of the company Ripple. Meaning, they are starting to push their SETTLEMENT SOLUTION. They are not rushing going live. At current valuation ~.18 there is no way XRP could handle even India's current yearly retail remittance it receives (69Bn). However a real time usage go live situation can happen at anytime with its partners. Since it is real time, the bank would have to source say 100 Million from an exchange. It senda it in real time to a foreign bank instantly. What would happent to that .18? then they go live with another two banks. Sentiment kicks in. rinse repeat over and over again. price goes wild. Brad Garlinghouse is the CEO. He comes from AOL, and Yahoo. Look for a big go live event.. they have VC funding from Google, Andreesen Horrowitz, silicon ventures, and big banks, they have revenue, and they sit on billions of XRP, of which they have announced locking up 55Bn.
Many of us have noticed their final phase of XRP being in motion. These guys have 75 banks as customers/partners including Bank of America, UBS, Santander, BBVA, AND A CONSORTIUM OF FOUR banks in Japan. to understand the magnitude, Mitsui Bank, just one of those banks is the 4th largest bank in the world. BOA is the 9th largest. That same consortium gave us ATM Machines. They announced they are working on a payment app for all their customers and the world using XRP. Ripple was quiet on XRP, but in the last several weeks articles have come out saying XRP is "stable," Garlinghouse has tweeted that XRP Adoption is growing. Vias has said look for big announcements this wuarter with respect to XRP and their partners...
I cant give you all the details ive found but you can go to Ripple.com, Xrpchat.com, and see all the articles, posts by joelkatz (chief cryptographer, Stephan Thomas CTO, Dilip Rao, Garlinghouse CEO, miguel Vias head of XRP global markets. While XRP was not for us, these gus update us regularly and engage in discussions all the time. They are not pumping as their pockets are DEEP. The math checks out. this thing can go extremely wild.
but yes, it is not easy getting an account established. It is very techmical, but as joey and others have pointed out, this is the future we are dealing with. spend some time. do your due diligence. Once you do, a phenomena happens, you become Zerper (XRP) FANATIC.
NOT INVESTMENT ADVICE. DO YOURBOWN RESEARCH. I COULD BE WRONG.
BUT I COULD BE VERY, VERY RIGHT...
but yes, RIPPLE XRP for all intents, purposes, indicators etc may very well become the standard for banks to send and receive money. Some estimates of cross border transfers by banks are up to 14 Trillion per day.
XRP was not created for consumers but for banks, enterprises, and unlike bitcoin and others, was made with understanding it might get regulated.
They have for the past 5 years been laying all the groundwork, partnering with key banking institutions, performing proof of concepts with and for central banks like Federal Reserve, Bank of England, and the central bank in Singapore.
Their blockchain inspired Ledger called Inter Ledger Protocol (ILP) is a fast, interoperable Ledger that can fit onto any banks infrastructure. This system has given banks what they want scalability, privacy, tranperency, fast payments.What it lacks is something called XRP and XRP ledger. This allows not only fast payment with all the above, it enables REALTIME SETTLEMENT. Settlement from one bank to another in a foreign country can take days.
XRP will also free up something called Nostro accounts. No actual money is sent in today's existing technology. Say sarah wants to send $100 to her friend Jim in London. A message, which has a 10% failure rate and lacks transperency is sent fom bank A in Los angeles to Bank B in London. Bank B debits Bank A's Nostro account for $100. It then converts it to Brittish Pound, deducts their enormous fee and gives Jim the balance. Banks and even companies like Apple must have Trillions of dollars tied up in these nostro accounts. If not, they have to use an intermediary market maker-again, big fees.
XRP the digital currency and payment system is now in the final phase of the company Ripple. Meaning, they are starting to push their SETTLEMENT SOLUTION. They are not rushing going live. At current valuation ~.18 there is no way XRP could handle even India's current yearly retail remittance it receives (69Bn). However a real time usage go live situation can happen at anytime with its partners. Since it is real time, the bank would have to source say 100 Million from an exchange. It senda it in real time to a foreign bank instantly. What would happent to that .18? then they go live with another two banks. Sentiment kicks in. rinse repeat over and over again. price goes wild. Brad Garlinghouse is the CEO. He comes from AOL, and Yahoo. Look for a big go live event.. they have VC funding from Google, Andreesen Horrowitz, silicon ventures, and big banks, they have revenue, and they sit on billions of XRP, of which they have announced locking up 55Bn.
Many of us have noticed their final phase of XRP being in motion. These guys have 75 banks as customers/partners including Bank of America, UBS, Santander, BBVA, AND A CONSORTIUM OF FOUR banks in Japan. to understand the magnitude, Mitsui Bank, just one of those banks is the 4th largest bank in the world. BOA is the 9th largest. That same consortium gave us ATM Machines. They announced they are working on a payment app for all their customers and the world using XRP. Ripple was quiet on XRP, but in the last several weeks articles have come out saying XRP is "stable," Garlinghouse has tweeted that XRP Adoption is growing. Vias has said look for big announcements this wuarter with respect to XRP and their partners...
I cant give you all the details ive found but you can go to Ripple.com, Xrpchat.com, and see all the articles, posts by joelkatz (chief cryptographer, Stephan Thomas CTO, Dilip Rao, Garlinghouse CEO, miguel Vias head of XRP global markets. While XRP was not for us, these gus update us regularly and engage in discussions all the time. They are not pumping as their pockets are DEEP. The math checks out. this thing can go extremely wild.
but yes, it is not easy getting an account established. It is very techmical, but as joey and others have pointed out, this is the future we are dealing with. spend some time. do your due diligence. Once you do, a phenomena happens, you become Zerper (XRP) FANATIC.
NOT INVESTMENT ADVICE. DO YOURBOWN RESEARCH. I COULD BE WRONG.
BUT I COULD BE VERY, VERY RIGHT...
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