BANK NEVER ADOPT XRP

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BANK NEVER ADOPT XRP

Postby GiantGox » Thu Jun 02, 2016 12:13 am

According to Tetsuyuki Oishi, Commissioner of Japan Digital Money Association,
There are 5 reasons that Banks never adopt XRP.

http://doublehash.me/bank-never-adopt-xrp/

1. Banks cannot use XRP, legally.
2. Banks have something to do for the cost reduction before they solve the problem of Correspondent Bank.
3. Though the system of Correspondent Bank is complicated, it's much better than using XRP.
4. In the long term, Bank consortium builds other stuff, which corresponds to XRP.
5. Banks are much more conservative than you guys are thinking.

Any objections???
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Re: BANK NEVER ADOPT XRP

Postby JoelKatz » Thu Jun 02, 2016 12:36 am

These are all some of the reasons we've adopted a strategy that doesn't require the banks to do anything to or with XRP. XRP can even be the intermediary in a bank-to-bank transaction without the banks doing anything at all with XRP. The XRP step can, for example, take place entirely within a regulated exchange.
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Re: BANK NEVER ADOPT XRP

Postby GiantGox » Thu Jun 02, 2016 1:24 am

JoelKatz wrote:These are all some of the reasons we've adopted a strategy that doesn't require the banks to do anything to or with XRP. XRP can even be the intermediary in a bank-to-bank transaction without the banks doing anything at all with XRP. The XRP step can, for example, take place entirely within a regulated exchange.


Yes, I'm sure about the logic of Ripple's Path-finding and the Autobridging as I illustrated some diagrams here.

https://t.co/ymrC9y6vOQ

To make XRP enabled on the pathway, I understand that market makers, who trade Bank's IOU also need to trade XRP.
So, I am thinking that all we are waiting for is XRP being listed on the market.
Is this right?
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Re: BANK NEVER ADOPT XRP

Postby yxxyun » Thu Jun 02, 2016 12:04 pm

JoelKatz wrote:These are all some of the reasons we've adopted a strategy that doesn't require the banks to do anything to or with XRP. XRP can even be the intermediary in a bank-to-bank transaction without the banks doing anything at all with XRP. The XRP step can, for example, take place entirely within a regulated exchange.


https://ripple.com/insights/ripple-part ... rivatives/

In Building Network Effects on Ripple and The Cost-Cutting Case for Banks, we discussed the value proposition for XRP as a highly efficient bridge currency that enhances network effects and market depth across currency conversions on Ripple and in the developing Internet of Value. In order to support this use case, banks and market makers that provide liquidity may need to hold XRP in significant size and thus need a way to manage volatility.
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Re: BANK NEVER ADOPT XRP

Postby GiantGox » Fri Jun 03, 2016 1:25 am

yxxyun wrote:
JoelKatz wrote:These are all some of the reasons we've adopted a strategy that doesn't require the banks to do anything to or with XRP. XRP can even be the intermediary in a bank-to-bank transaction without the banks doing anything at all with XRP. The XRP step can, for example, take place entirely within a regulated exchange.


https://ripple.com/insights/ripple-part ... rivatives/

In Building Network Effects on Ripple and The Cost-Cutting Case for Banks, we discussed the value proposition for XRP as a highly efficient bridge currency that enhances network effects and market depth across currency conversions on Ripple and in the developing Internet of Value. In order to support this use case, banks and market makers that provide liquidity may need to hold XRP in significant size and thus need a way to manage volatility.


Maybe, it's a difference between banks as payers and banks as market makers.
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Re: BANK NEVER ADOPT XRP

Postby rippleric » Fri Jun 03, 2016 2:19 am

Banks don't need XRP to send a payment on the ripple protocol, except for the fee and auto-bridge through XRP to another currency? Since banks don't need to touch it everyone else can "adopt" it for specific use-cases exchange, market making, in order to provide cheap payment paths and liquidity for banks.. ILP is going to be a really big factor for XRP "adoption" or usage..
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Re: BANK NEVER ADOPT XRP

Postby virtualvester » Tue Jun 14, 2016 10:07 pm

JoelKatz wrote: XRP can even be the intermediary in a bank-to-bank transaction without the banks doing anything at all with XRP.


I'm not clear on XRP disposability. If a bank exchanges one currency for another, and XRP are used as the intermediary token:

1.) Are XRP used 1:1 for every dollar exchanged to a different currency, or would 1 XRP be used for one entire transaction, regardless of the dollar amount?

2.) Are the XRP used in a currency exchange transaction disposed of? As in they will never be used again, and the total 99 billion XRP in existence will diminish by that amount?

I've read all the Ripple white papers over the years, and haven't seen info regarding these questions before. Thanks for your time.
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Re: BANK NEVER ADOPT XRP

Postby virtualvester » Tue Jun 14, 2016 10:11 pm

GiantGox wrote:Any objections???


See the link recently posted on the Ripple https://www.reddit.com/r/Ripple/comments/4o30fr/north_american_banks_likely_to_use_ripple_to/ subreddit.

It's now rumoured that many North American banks will use Ripple to exchange currencies by Q4.
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Re: BANK NEVER ADOPT XRP

Postby yxxyun » Wed Jun 15, 2016 3:10 am

virtualvester wrote:
JoelKatz wrote: XRP can even be the intermediary in a bank-to-bank transaction without the banks doing anything at all with XRP.


I'm not clear on XRP disposability. If a bank exchanges one currency for another, and XRP are used as the intermediary token:

1.) Are XRP used 1:1 for every dollar exchanged to a different currency, or would 1 XRP be used for one entire transaction, regardless of the dollar amount?

2.) Are the XRP used in a currency exchange transaction disposed of? As in they will never be used again, and the total 99 billion XRP in existence will diminish by that amount?

I've read all the Ripple white papers over the years, and haven't seen info regarding these questions before. Thanks for your time.


https://ripple.com/dev-blog/introducing ... obridging/
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Re: BANK NEVER ADOPT XRP

Postby Tekio » Wed Jun 15, 2016 6:27 am

Banks can also open simple Ltd company that will cost only a couple of thousands USD and entirely go around all regulations regarding xrp :)
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