Will XRP ever replace SWIFT? | Bitcointalksearch.org

bangjoe

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Quote from: WeThePe0ple on March 29, 2024, 03:20:31 PM

Quote from: bangjoe on March 29, 2024, 03:10:18 PM

The technology in XRP is better than what is used by SWIFT so it is very possible if it gets regulation from the government so that it can become a fast financial system, and also a lot of banks are already using this XRP technology so it is quite possible in the way, that's what makes most of the investors very out, and on the other hand also that XRP is a crypto coin related to conspiracy and also the superstition of the shmpsons. LOL

Yes, of course there are many who give up because the problem with the SEC is too long and the price of XRP stays below $0.8 for a long time, but on the other hand there are also many who introduce XRP as the next level of global finance to be much easier and faster. but I don't know, hopefully in April the XRP case can be resolved.

Do you believe that there are other tokens aiming to revolutionise the banking system in a better way than XRP can? I'm thinking about HBAR.
I know that banks have partnerships with HBAR but I don't know if XRP and HBAR are competitors, trying to solve the same problems.

I also don't have a position in XLM. Not sure if there is a scenario in which XLM goes to the moon but XRP doesn't.

Either way if XRP goes to the moon, I believe it will happen in spikes (court battle wins) and eventually overnight when there is an announcement about mass adoption. I never sell XRP, similar to my first position in BTC. I only buy more when there is a good opportunity

Believe it or not it is a matter of knowledge and belief in a team and your imagination of a project, HBAR, XRP and XLM I also read about it and have known it for a long time and it doesn't seem to have the properties of bitcoin they just have the advantages that are in bitcoin but not all of them, only a small part.
I personally am not too fanatical about something in this world, not so sure about conspiratorial things, the developers behind it must have a purpose and plan and give the best or vice versa.

I am not so sure but I am also gambling on this project, taking a small portion in my portfolio is not a bad thing.

WeThePe0ple

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Quote from: kentrolla on March 30, 2024, 03:56:47 PM

Indeed Ripple will be the best option to replace Swift as it has far better technology than Swift and it's also centralized in nature so no doubt about that. But, as you mentioned that many influencers are advising to dump XRP is for the fact that it's decentralised and cannot be trusts in terms of investment because supply is not limited but yeah as far as technology is concerned it's the best suited for payment systems and that's why bakers have been in touch with them even in the past.

Supply is limited at 100 billion tokens

kentrolla

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Indeed Ripple will be the best option to replace Swift as it has far better technology than Swift and it's also centralized in nature so no doubt about that. But, as you mentioned that many influencers are advising to dump XRP is for the fact that it's decentralised and cannot be trusts in terms of investment because supply is not limited but yeah as far as technology is concerned it's the best suited for payment systems and that's why bakers have been in touch with them even in the past.

Sophokles

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The technology is there but will they really allow it to happen? XRP community and project is more powerful than them? They have massive funds, authorities and everything they need to make the system what they want. What i am seeing is that XRP will be used by small and large institution to develop their own payment network that can be used for local transaction. But i don't think the government will allow it to happen to use XRP by replacing SWIFT for international trade purposes.

o48o

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Quote from: WeThePe0ple on March 29, 2024, 02:40:55 PM

The monetary system is nearing its end, with national debt levels spiralling so far out of control that a monetary reset is inevitable within the next decade. Many crypto investors seem to have given up on the idea that XRP can become part of the new financial system. I'm not one of them. I think it would revolutionise international finance and I think that all current lawsuits are just part of the process of the integration of XRP in finance. Similar to mom and pop shops fighting against internet shops before they were launched.

Like Gandhi once said. 1) First they ignore you. 2) Then they laugh at you. 3)Then they fight you (court battles with the SEC defining XRP tokens as unregistered securities, which they are not). 4) Then you win (mass adoption, XRP to the moon)

I'd say we're in phase 3 now. But many investors seem to have given up

Lately I've seen many influencer videos advising to dump XRP

When XRP was build, it seemed to have build by people who didn't understand EU privacy regulations so just now they had to build privacy for, which honestly seems like duck tape solution and tells more about how little research they did before building it. And i understand that it was early and people didn't really care how they raised funds, but their current clashing with sec tells a story, and that story is not how evil sec is but how unprepared Ripple was for their place in crypto world, and there's no way in hell that they would go past the pilot programs.

But i wouldn't hold my breath with HBAR either. It's a novel idea, but centralized as hell, closed source, and their fans seem to brag with the fact their TPS is over 10000, while in reality that's limited only for wallet to wallet transactions, and for all the other transactions it is 10. So it's quite misleading and not efficient for any smart contracts.

WeThePe0ple

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Quote from: Bureau on March 29, 2024, 11:56:49 PM

Although Ripple has the potential to replace SWIFT, it will face a lot of regulatory blockage. I doubt it will be easy for Ripple to get over those regulatory hurdles. Other countries like China and India have already built domestic digital payment network for domestic market and are working on CBDC for international payments. If Ripple does succeed in passing all regulatory hurdles do you think it will be able to get mass adoption. More than half of the earth's population is in these two countries. I don't think investing Ripple in the age of AI and CBDC would be a good idea.

Can't CBDC's run on the ripple blockchain?

Bureau

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Although Ripple has the potential to replace SWIFT, it will face a lot of regulatory blockage. I doubt it will be easy for Ripple to get over those regulatory hurdles. Other countries like China and India have already built domestic digital payment network for domestic market and are working on CBDC for international payments. If Ripple does succeed in passing all regulatory hurdles do you think it will be able to get mass adoption. More than half of the earth's population is in these two countries. I don't think investing Ripple in the age of AI and CBDC would be a good idea.

Vincom

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Quote from: WeThePe0ple on March 29, 2024, 02:40:55 PM

The monetary system is nearing its end, with national debt levels spiralling so far out of control that a monetary reset is inevitable within the next decade. Many crypto investors seem to have given up on the idea that XRP can become part of the new financial system. I'm not one of them. I think it would revolutionise international finance and I think that all current lawsuits are just part of the process of the integration of XRP in finance. Similar to mom and pop shops fighting against internet shops before they were launched.

Like Gandhi once said. 1) First they ignore you. 2) Then they laugh at you. 3)Then they fight you (court battles with the SEC defining XRP tokens as unregistered securities, which they are not). 4) Then you win (mass adoption, XRP to the moon)

I'd say we're in phase 3 now. But many investors seem to have given up

Lately I've seen many influencer videos advising to dump XRP

Ripple has a good solution and a global network of partners, but the value it brings to users is not really big at the moment. I'm not sure if companies and banks are actually using Ripple regularly, but most of Ripple's revenue in 2023 came from selling XRP tokens, not from its money transfer service income.

We are still in the early stages of the crypto era, I think Ripple has the potential to replace SWIFT in the future. Currently, my friends and I often use USDT on Tron to transfer money quickly and easily instead of XRP or Ripple's service. I am waiting for the outcome of the lawsuit between Ripple and the SEC. The SEC wants Ripple to pay a fine of 2B USD, I think this request is too unreasonable and Ripple will find it difficult to accept.

tyz

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Quote from: WeThePe0ple on March 29, 2024, 02:40:55 PM

The monetary system is nearing its end, with national debt levels spiralling so far out of control that a monetary reset is inevitable within the next decade. Many crypto investors seem to have given up on the idea that XRP can become part of the new financial system. I'm not one of them. I think it would revolutionise international finance and I think that all current lawsuits are just part of the process of the integration of XRP in finance. Similar to mom and pop shops fighting against internet shops before they were launched.

I think the crypto sector provides a glimpse of promising technological possibilities but it suffers from inherent shortcomings in stability, efficiency, accountability and integrity that can only be partially addressed by regulation. Discussions on the potential for a global currency reset have highlighted the challenges posed by high levels of national debt in major modern economies. The retention of a currency's value and the significant financial contracts denominated in the United States dollar have been cited as factors that contribute to the resilience of the current monetary system

WeThePe0ple

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Quote from: bangjoe on March 29, 2024, 03:10:18 PM

The technology in XRP is better than what is used by SWIFT so it is very possible if it gets regulation from the government so that it can become a fast financial system, and also a lot of banks are already using this XRP technology so it is quite possible in the way, that's what makes most of the investors very out, and on the other hand also that XRP is a crypto coin related to conspiracy and also the superstition of the shmpsons. LOL

Yes, of course there are many who give up because the problem with the SEC is too long and the price of XRP stays below $0.8 for a long time, but on the other hand there are also many who introduce XRP as the next level of global finance to be much easier and faster. but I don't know, hopefully in April the XRP case can be resolved.

Do you believe that there are other tokens aiming to revolutionise the banking system in a better way than XRP can? I'm thinking about HBAR.
I know that banks have partnerships with HBAR but I don't know if XRP and HBAR are competitors, trying to solve the same problems.

I also don't have a position in XLM. Not sure if there is a scenario in which XLM goes to the moon but XRP doesn't.

Either way if XRP goes to the moon, I believe it will happen in spikes (court battle wins) and eventually overnight when there is an announcement about mass adoption. I never sell XRP, similar to my first position in BTC. I only buy more when there is a good opportunity

bangjoe

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The technology in XRP is better than what is used by SWIFT so it is very possible if it gets regulation from the government so that it can become a fast financial system, and also a lot of banks are already using this XRP technology so it is quite possible in the way, that's what makes most of the investors very out, and on the other hand also that XRP is a crypto coin related to conspiracy and also the superstition of the shmpsons. LOL

Yes, of course there are many who give up because the problem with the SEC is too long and the price of XRP stays below $0.8 for a long time, but on the other hand there are also many who introduce XRP as the next level of global finance to be much easier and faster. but I don't know, hopefully in April the XRP case can be resolved.

WeThePe0ple

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Activity: 202

Merit: 22

The monetary system is nearing its end, with national debt levels spiralling so far out of control that a monetary reset is inevitable within the next decade. Many crypto investors seem to have given up on the idea that XRP can become part of the new financial system. I'm not one of them. I think it would revolutionise international finance and I think that all current lawsuits are just part of the process of the integration of XRP in finance. Similar to mom and pop shops fighting against internet shops before they were launched.

Like Gandhi once said. 1) First they ignore you. 2) Then they laugh at you. 3)Then they fight you (court battles with the SEC defining XRP tokens as unregistered securities, which they are not). 4) Then you win (mass adoption, XRP to the moon)

I'd say we're in phase 3 now. But many investors seem to have given up

Lately I've seen many influencer videos advising to dump XRP

Topic: Will XRP ever replace SWIFT? (Read 81 times)