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Re: Ripple forum

Bericht door neku » 02 okt 2018 17:23

Ripple Highlights Record Year, xRapid Now Commercially Available

In 2018, RippleNet has dramatically expanded its reach and network. This year we’ve seen massive customer growth quarter over quarter, signing an average of two production customers per week. RippleNet has also become a truly global network, powering faster, cheaper and more transparent cross-border payments to over 40 countries and six continents. Today, RippleNet takes another step forward to change the way money moves.

RippleNet is now providing on-demand liquidity to financial institutions for cross-border payments using the digital asset XRP. xRapid, the Ripple product powering these transactions, is commercially available and moving into production with multiple customers, including MercuryFX, Cuallix and Catalyst Corporate Federal Credit Union.

xRapid eliminates the need for a pre-funded nostro account when executing a cross-border payment. It sources liquidity from XRP on exchanges around the world. As a result, cross-border transactions occur in minutes and at a lower cost compared to traditional methods, which take days and incur high foreign exchange fees.

Payment providers MercuryFX and Cuallix both participated in the pilot phase of xRapid earlier this year and saw immediate results in speed and cost savings. MercuryFX will deploy xRapid in the Europe to Mexico corridor.

Cuallix currently focuses on the key remittance corridor from the U.S. to Mexico. Cuallix will use its financial services platforms Payllix and Cuallet, to provide a better customer experience for individuals and families sending money home.

Lastly, Catalyst Corporate Federal Credit Union, a wholesale cooperative financial institution that serves more than 1,400 member and client credit unions throughout the United States, will use xRapid on behalf of their members to create a new cross-border payment service.

Here is what all three customers had to say about xRapid:

“MercuryFX has been working closely with Ripple for more than a year to bring the power of RippleNet to our customers. In pilot tests we saw the benefits of xRapid, and we’re excited to roll commercial payments out within the quarter. The time to replace slow, expensive payments architecture is now because the need for global access to smooth-flowing capital has never been so acute.” – Alastair Constance, CEO and founder of MercuryFX.

“The promise of digital assets has always been faster, more efficient payments. That’s why we started exploring xRapid for our financial services platforms Payllix and Cuallet — to help our customers whose livelihoods depend on sending micro-payments easily and quickly to Mexico. Now, our customers can finally realize that promise,” – Nicolas Palacios, CFO of Cuallix.

“The traditional international wire experience fails to meet today’s expectations from a price, speed and ease-of-use perspective. Blockchain technology, and specifically Ripple’s xRapid product, resolves all three of these challenges simultaneously. Catalyst Corporate, through our subsidiary companies’ technology platforms, will leverage the XRP digital asset to transfer money across borders instantly on behalf of our 1400+ member credit unions. We have signed a production contract and are currently building out our plan.” – Brad Ganey, senior vice president and COO, Catalyst Corporate Federal Credit Union.

https://ripple.com/insights/ripple-high ... available/
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Re: Ripple forum

Bericht door TjaiYen » 07 okt 2018 15:51

Ripple Is Real, as Global Money Transfers Fueled by XRP
By David Z. Morris
10.01.2018
Ripple announced today that its xRapid money transmitting service, which uses the XRP distributed ledger to transfer fiat currency around the world, moved from testing into commercial operation.

The service launched with a handful of transmitters, who will be able to offer cheaper and faster global transfers than were possible with legacy systems. Three local exchange partners will connect global XRP flows to national banking systems.

The moment is a genuine landmark. The xRapid service is part of the broader RippleNet ecosystem that also includes the xCurrent data system. It is the nascent fulfillment of a promise that has underpinned much of the momentum in blockchain over the past decade: that cryptocurrency can provide the invisible backbone for an upgraded global financial system. That transition has implications not just for Ripple or for international finance, but for the entire global economy, and every actor in it.

Ripple’s xRapid launch customers demonstrate the potentially broad impact of a blockchain-based transfer service.

MercuryFX is a London-based global payments provider with a decade-plus track record, primarily focused on large transfers for global corporations. At the other end of the spectrum are Cuallix and the Catalyst Corporate Federal Credit Union, xRapid customers that both serve the U.S.-Mexico remittance trade, including migrant farmworkers sending money home.

In both use cases, savings in time and fees promise to be large. MercuryFX has already used xRapid in commercial transfers to Mexico, and company cofounder Alastair Constance says that “where it would take two days and be relatively expensive to get a payment to Mexico [using the existing SWIFT system], we’ve found that it is almost free, and takes two minutes instead of two days, using xRapid.” (MercuryFX, Constance disclosed, invested in XRP before becoming a Ripple customer).

Faster, cheaper service is great for MercuryFX’s competitive standing, and for its corporate customers. But the impacts could be even more profound for underbanked global workers. According to Ripple SVP of product development Asheesh Birla, the current international wire system can require fees of $20 to $30 on a simple $300 wire transfer. “It takes days…and this is capital that people back home in Mexico need.”

The source of xRapid’s advantage will seem shockingly simple for anyone who already understands cryptocurrency. To send money from the U.S. to Mexico, xRapid simply buys XRP for dollars on the U.S. cryptocurrency exchange Bittrex, moves them to the Mexican exchange Bitso, and sells them for pesos, which are finally sent along local payment rails to a Mexican bank. According to Birla, it takes just seconds to swap dollars in the U.S. to pesos in Mexico via XRP.

That’s a stark contrast to the almost comically primitive SWIFT system currently used for international transfers. “Believe it or not,” says Birla, “In 2018, most money gets moved [internationally] by creating little files and dropping them in an FTP server that gets picked up once a night and batched.” Hence the multi-day waits for a fully confirmed international wire transfer.

XRapid’s near-instant conversion of funds into and out of XRP, meanwhile, should largely eliminate exposure to any volatility in XRP’s own value. That will allow xRapid to give users simple, predictable foreign exchange rates. It also would seem to reduce exposure to exchanges themselves, which a series of hacks and scams have suggested are a weak link in the crypto ecosystem—especially in developing markets with fewer global connections, where Ripple says its products have the most transformative potential.

From a customer perspective, xRapid doesn’t involve any crypto-specific know-how. “The magic,” says Birla, “is this digital asset moving instantly between these different crypto exchanges, from the one in the United States to the one in Mexico. But our product does all the magic underneath.”

Constance sees that magic from the customer perspective, saying the system “is easy to use, and it’s getting easier. In the future [xRapid] will sit behind the payment system, but you’ll just click two buttons and realize your money’s there in two minutes.”

xRapid is not yet a comprehensive global transfer network, though—functionality in any given country depends on partnerships with local exchanges. Bitstamp services MercuryFX’s needs in the U.K., just as Bitso handles the peso end of the trade in Mexico. Constance expects MercuryFX to offer commercial transfers to the Philippines via xRapid by this fall, made through Philippine crypto exchange Coins.ph.

According to Birla, the process of adding new transmitters and exchanges to the Ripple ecosystem is careful and hands-on for now, largely so his product team can continue to improve the customer experience. But he hopes the onboarding process will become turnkey eventually, tentatively by late 2020.

The Global Liquidation

Great, you might be thinking—companies and migrants can send money more cheaply. But why should I care?

You, and everyone else in the global economy, should care because the current international payments system is a throttle on the global economy—and not a small one. To fully understand why, and to envision the prosperity Ripple has the potential to unlock, we have to look at a little-understood element of global finance called the nostro account. Nostro accounts are how global corporations and commercial banks work around the aching slowness of the SWIFT system, and the fact that they exist at all, given the potential of modern communication technology, is quite simply crazy.

As an example, let’s posit that Uber has to transfer money from its U.S. investment accounts to Mexico to pay drivers there. Instead of sending a small transfer across the border every time someone takes a ten-minute ride through downtown Mexico City, Uber actually has a bank account with a Mexican bank. Uber intermittently fills the account in lump sums, then uses that money to make payments in Mexico, saving on international transfer fees and delays.

That’s a nostro account, from the Latin for “ours.” It sounds vaguely sensible, until you remember that Uber, like many companies, operates in dozens of countries, and therefore keeps nostro accounts scattered across the world like locally-denominated stash houses. Those stashes lock up a shockingly large pot of capital: According to a McKinsey report cited by Ripple, corporate transactional accounts held $27 trillion at the end of 2015.

For perspective, that’s significantly more than the $19 trillion GDP of the United States, kept in reserve for use in isolated monetary regions. Furthermore, nostro accounts expose corporations to sometimes risky foreign currencies, and require large, specialized treasury-management teams to try to predict cash demand in various regions and countries. And as the cherry on top, direct fees on international transfers by individuals and businesses add up to more than $250 billion per year, according to McKinsey.

A system that simply let you reliably send money where you wanted it to go, then, would free up a major slice of global capital to truly improve human life. That’s the system RippleNet wants to become, and today, it’s taking the first steps.


https://breakermag.com/ripple-is-real-a ... ive-today/

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Re: Ripple forum

Bericht door neku » 13 okt 2018 18:26

Ripple’s Chris Larsen Becomes Richest Crypto Billionaire, Enters Forbes 400


-Ripple Founder Chris Larsen made the Forbes 400 America list 2018
-He takes the 383 rd spot and is the world’s richest cryptocurrency tycoon
-Forbes estimates Larsen’s net worth to be $2.1 Billion

Earlier this month, Forbes released its list of 400 wealthiest Americans for 2018. As expected, Jeff Bezos, Bill Gates and Warren Buffett still make the top 3 spots. While everyone is focused on the top of the list, there are a few new billionaires from the crypto space with Ripple Co-Founder and Executive Chairman Chris Larsen leading the pack.

Larsen barely made it into the list by landing the 383rd spot with his net worth to around $2.1 billion. This was made possible by the recent spike of XRP with their announcement of xRapid at Ripple’s Swell Conference. This is an impressive feat since his entire net worth is valued in cryptocurrencies primarily Ripple (XRP). This is a fraction of his net worth from early 2018 which was around $37 billion (as per Forbes) when XRP was trading at $2.39, making him the 15th richest American. Forbes around that time released their Crypto Rich List, which featured other notable names like Changpeng Zhao of Binance, Cameron & Tyler Winklevoss and Vitalik Buterin of Ethereum.

Chris’ meteoric rise has been primarily because of the massive growth of the cryptocurrency sector. As the Co-Founder of Ripple, which grew by 35,159 percent in 2017, has accumulated close to 5.19 billion XRP tokens which is currently trading at 40 cents. Ripple’s current CEO, Brad Garlinghouse who was also estimated to be worth $9.5 billion in early 2018 didn’t make the cut with the minimum bar set at $2.1 billion by Forbes.

Blockmanity’s Take

This was the year of the astronomical rise of Amazon and Jeff Bezos with his net worth gaining by a staggering $78.5 billion in a single year taking his total net worth to $160 billion which is way ahead of Bill Gates. With more and more billionaires taking birth in the crypto space, it’s very likely that someday a crypto Billionaire will take Bezos’ place.

https://blockmanity.com/news/ripples-ch ... orbes-400/
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Re: Ripple forum

Bericht door NickVDB » 18 okt 2018 21:23

Hey allemaal,

Ik ben nieuw hier maar heb al bijna een jaar geleden geïnvesteerd in Ripple.
Wat begon als een interesse waar ik niet veel van wist is toch een beetje uitgegroeid tot een serieuzere interesse ondertussen.

Ik zal dus vermoedelijk wat actiever worden op dit gedeelte van het forum.
neku liked last!

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Re: Ripple forum

Bericht door neku » 18 okt 2018 21:25

NickVDB schreef:Hey allemaal,

Ik ben nieuw hier maar heb al bijna een jaar geleden geïnvesteerd in Ripple.
Wat begon als een interesse waar ik niet veel van wist is toch een beetje uitgegroeid tot een serieuzere interesse ondertussen.

Ik zal dus vermoedelijk wat actiever worden op dit gedeelte van het forum.
Welkom, post gerust nieuws en als je vragen hebt horen we het wel :up:
The aim of education is the knowledge, not of facts, but of values!

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Re: Ripple forum

Bericht door neku » 18 okt 2018 22:17

Bill Gates Foundation Expands Partnership With Ripple As XRP Launches on Nexo and Omni

The Bill and Melinda Gates Foundation is expanding its partnership with Ripple to make it easier to send money to poor parts of the world that lack strong infrastructure for payments.

According to the Foundation’s deputy director Miller Abel, they’re now working with Ripple and the web monetization platform Coil to create a fast and effective way to send donations directly to people who need them most.

We are partnering w/ @ripple and @coil to implement the #Interledger Protocol & explore ways #Mojaloop can support pro-poor payment systems. #githubuniverse
— Miller Abel (@MillerAbel_) October 17, 2018

Meanwhile, XRP-backed loans are now available on Nexo, in what the company calls the “first and only crypto lender” to use XRP as collateral.

XRP-backed loans are now available on the Nexo platform, making us the first and only crypto lender to onboard #XRP as collateral.

Get instant access to cash while keeping the upside potential of your XRP! #HODL #Ripple pic.twitter.com/YmYWSvW5Ov
— Nexo (@NexoFinance) October 17, 2018

Not to be outdone, Omni has launched its long-awaited support of XRP.

The sharing-economy platform allows anyone to rent everyday items in their home to other people, instead of letting them sit in the closet collecting dust.

When someone rents your item, you can earn XRP or USD.

The company is currently available in the San Francisco Bay Area and Portland, with plans to expand in the near future.

https://dailyhodl.com/2018/10/17/bill-g ... d-C7t_qcog
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Re: Ripple forum

Bericht door NickVDB » 19 okt 2018 14:20

Zag op youtube onderstaand filmpje passeren. Behind the scenes van het ripple kantoor en werksfeer.
Voor hun klanten (financiële instituties) lijkt het mij interessant dat ze dus kunnen samenwerken met een echt bedrijf dat hen introduceert in xrp

https://www.youtube.com/watch?v=zDCdW1Dw72Q
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Re: Ripple forum

Bericht door neku » 25 okt 2018 17:53

Ripple Says Banks Using xCurrent Are Looking to Upgrade to XRP-Powered xRapid

Banks using Ripple’s xCurrent technology are now looking to upgrade to the company’s XRP-powered xRapid, according to Ripple’s senior vice president of product management Asheesh Birla.

Birla says a number of banks are seriously considering taking the plunge into crypto and using xRapid to process cross-border payments.

“xRapid is seeing greater traction among payment providers, including Currencies Direct, Mercury FX and Viamericas, whereas the banks are not quite ready to take the plunge into the nascent cryptocurrency space. However, Mr Birla reports that some banks using xCurrent are now looking to use xRapid for the second phase of their projects…

Mr Birla says that Ripple developed its technology with scalability in mind. ‘To deploy something for Standard Chartered, Santander or Bank of America, our solution needs to scale to hundreds of thousands of transactions per second – this was in the design from the outset,’ he says.”

Birla made the comments to the financial outlet The Banker, which interviewed Birla in collaboration with Deutsche Bank in July. The interview recently caught fire on Twitter.

Ripple’s xRapid is designed to utilize XRP to power instant cross-border transactions between financial institutions. Ripple co-founder Chris Larsen recently offered a thorough description on how the technology works.

“xRapid, that’s a component of RippleNet. That allows payment providers to lower the cost and liquidity for their global payments. So it allows, for example, a bank that’s trying to send money to Mexico to use XRP as the intermediate currency. They don’t necessarily have to hold XRP, but it’s used to make things very efficient.

So in this example, a customer’s going to a remittance company in the US. Those dollars are now exchanged into XRP through Bittrex, which is a great exchange. It’s immediately settled in XRP in seconds. Bitso, an exchange, then provides the exchange between XRP and Mexican peso that can now be delivered to a Mexican bank, which, because they have a real-time system in Mexico, allows that to go into the customer’s account very quickly.

This now allows payment providers, banks and their customers to move value in one to two minutes versus days, or a process that might mask those days but have to charge for the settlement risk and costs.”

https://dailyhodl.com/2018/10/24/reveal ... 1YluINDlL8
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Re: Ripple forum

Bericht door neku » 25 okt 2018 17:54

Volledig interview met Asheesh Birla

http://www.cib.db.com/docs_new/The_Bank ... ly2018.pdf
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Re: Ripple forum

Bericht door neku » 27 okt 2018 19:34

XRP is a security; Ripple is committing fraud via non-compliance: Berkeley researcher

After recent statements made by a former SEC [US Securities and Exchange Commission] employee on the dilemma of XRP being a security or not, Nicholas Weaver, a researcher at the International Computer Science Institute & Lecturer offered his opinion. Weaver, who holds a position at UC Berkeley made a bold remark that XRP is a security and Ripple, the company, is committing fraud via non-compliance. In his tweet, he mentioned:

“Lets walk through the “Howey Test” with XRP (“Ripple”). This is why @SEC_Enforcement needs to come down like a ton of bricks on those behind Ripple the company… XRP is a security, and as such Ripple Inc is committing securities fraud by not following the rules.”

Further, he put the third-largest cryptocurrency in the world to the Howey Test laid out by the Supreme Court in 1946. It is a test that asks four questions to check if an asset is a security, namely, an investment of money, a common enterprise, expectation of profits, and the efforts of a third-party or promoter pushing that profit. Weaver’s second tweet in the series read:

“#1: “Is it an investment of money?” Hell yeah. People put their money in XRP, and literally call it an “investment”. So lets check #1.”

He continued the post and mentioned that XRP also follows the second rule, stating that the expectation of profit exists in the case of the coin. The third factor, i.e., a common enterprise must exist for the investment of money, was also passed by the cryptocurrency. Moreover, the fourth criteria regarding profits was met as well.

Concluding his analysis, Weaver stated:

“In fact, basically any ICO not restricted to accredited investors where there is the quiet part of “yeah, this is for a ‘product’, but you don’t want the product, you can sell the token to someone else” fails the Howey test. Including Ethereum.”

Nouriel Roubini, who has gained much popularity in the blockchain and cryptocurrency space of late, also commented on the tweets, tagging XRP as a non-compliant security. However, any remarks or replies from the officials of Ripple have not been observed yet.

https://ambcrypto.com/xrp-is-a-security ... 3Fan7HslHI
The aim of education is the knowledge, not of facts, but of values!

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