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SWIFT will use XRapid to process payments using XRP. Here is the proof

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Swift has redefined their standards document and added new features and has built the API interfaces to be able to plug in Ripple Net for XCurrent or XRapid

Swift has redefined their standards document and added new features around payment which we can see in the SWIFT gpi video posted by Swift on 1st March 2018. At the same time, SWIFT has built the API interfaces to be able to plug in Ripple Net for XCurrent or XRapid.

 

 

The XCurrent’s Video posted by Ripple seems to have exactly the same features as the SWIFT gpi.

 

 

Swift’s GPI vs Ripple’s XCurrent:

The Swift’s GPI and the Ripple’s XCurrent seem to be precisely the same thing. Here are the similarities:

  • Faster Payments: Minutes/Seconds
  • End to End Messaging
  • Track Payments across multiple Banks
  • Weeks 4 dots = Weeks/months
  • Uses predefined payment rails

 

TAS Ground and Ripple Partnership

 

The TasGroup is a payment hub for Europe and they are espousing the benefits of Ripple XCurrent or XRapid in this public document:

 

One-pager - TAS Group (2)-001

 

Will the partnership between RIPPLE’s XCurrent or XRapid and SWIFT be a boost to the price of XRP? What do you think? Tell us in the comments section below.

 

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7 Comments

7 Comments

  1. Pingback: SWIFT will use XRapid to process payments using XRP. Here is the proof – The Coinage Times

  2. Pingback: SWIFT will use XRapid to process payments using XRP. Here is the proof - Satoshiuncle

  3. rus52782

    October 1, 2018 at 8:08 am

    They are different technologies. Swift GPI is an upgrade to the existing swift system, it does not source liquidity via XRP and you still need money tied up in nostro, similar to Ripple’s XCurrent. The risk adverse that do not like change will stick with SWIFT and upgrade while keeping an eye on how things go with those early adopters that choose Ripple’s XRapid solution. For sure SWIFT will get the largest share of the market to begin with as it is the natural upgrade path for those already on the SWIFT platform, but the cost savings of XRapid will tempt those customers over in the future as long as the experience encountered by the first few is good and lives up to expectations. Being able to pull resources from nostro and use elsewhere is not something they will overlook for long.

  4. Pingback: SWELL proving bearish for XRP? Ripple Price Analysis. | Coin Crypto Rama

  5. Pingback: Ripple Swell Conference 2018: 101, In Depth – Coinance: Bitcoin, Ethereum, Blockchain & Cryptocurrency News

  6. Pingback: SWIFTにxCurrentもしくはxRapid採用の可能性⁇ | コインの森

  7. Pingback: リップル、国立・サンタンデール銀行と業務提携!←SWIFTも 。 | ビットまとめ

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#Blockchain

2019 Blockchain Adoption: The Next Cryptocurrency Price Catalyst

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Let have a look at recent survey statistics from Deloitte's report related to blockchain technology and see how it will affect the cryptocurrency market.

Industries that we never thought would be disrupted, will be disrupted massively and the company executives know it and they want to be ahead of the curve and find ways to not be disrupted out of their business. Blockchain has got a lot of amazing applications and uses cases but at the same time blockchain will not solve all of the world’s problems. It can certainly go along way towards solving quite a few of them which is amazing as a tool.

 

Let have a look at some of the recent survey statistics from a report from Deloitte related to blockchain technology:

  • Around 95% of the companies surveyed say that their company plans to invest in blockchain technology in 2019.
  • With 16% of the company executives surveyed said that they are planning on investing $10 million or more into blockchain technology in 2019.
  • 84% believe that blockchain technology is broadly scalable and will eventually achieve mainstream adoption.
  • 68% of the executives polled also believed that they will lose a competitive advantage if they don’t implement blockchain technology.
  • 59% of people who were polled believe that blockchain will disrupt their industry.
  • 39% of the people viewed blockchain as being overhyped.
  • The executives who are most interested in blockchain technology by industry are Automotive industry: 73%, Oil and Gas industry: 72%, Live Sciences: 72% being the most bullish on blockchain technology.
  • 84% of executives polled expect blockchain to provide more security than conventional IT systems.
  • 32% of executives expect greater speed.
  • 28% of executives are looking for new revenue models.
  • Only 2% perceive no significant advantage of blockchain over existing systems.
  • 42% of surveyed view blockchain as a critical strategic priority for their organization.
  • According to 39% of people surveyed, regulatory issues present the greatest barrier to further investment in blockchain technology.
  • 37% of executives are more concerned with the actual implementation of the technology. Citing things like lack of in-house understanding of how to implement blockchain technology.
  • 45% of companies are considered to be likely to join a blockchain consortium with competitors while 29% are already a part of a blockchain consortium.
  • 52% of companies are focused on permissioned blockchains. So we are going to see a lot of permissioned blockchains within companies so that’s not surprising but 44% are prioritizing public blockchains.

 

There are going to be a lot of companies that don’t really do very much in terms of buying bitcoin or any other cryptocurrency but there are will be a lot of companies that will because the use case for public blockchain is very real and the use case for value transfer is very real and companies recognize that. Some of the biggest use cases that companies are looking at are supply chain, internet of things and digital identity. A lot of that has very strong value on public blockchains in particular. So public blockchains such as bitcoin will see a lot of use.

If we assume that as surveyed, 44% of the world’s top 1000 businesses start using pubic blockchains such as bitcoin and ethereum on a regular basis. What do you think that is going to do for the price and adoption?

The United States is lagging behind overall, especially behind the other nations, particularly which were polled: China, Canada, Germany. Going back to the regulatory concerns which are probably holding back a lot of American executives from getting more into blockchain technology particularly into public crypto assets such as bitcoin or ethereum. The report from Deloitte finishes up saying that blockchain is not ready for prime time yet, it is getting closer to its break out moment every day. The report states the momentum is shifting from a focus on learning and exploring the potential of the technology to identifying and building practical business applications.

If we go back to when the internet started and invest in companies that became the big things, that’s what we have right now with cryptocurrencies. Though there will be companies that won’t need crypto assets themselves, they’ll be using blockchain technology but we are going to have a lot of companies which are going to be using these public blockchains for a wide range of use cases. This is going to be the new internet of value and the future of the web and cryptocurrencies are going to play a very strong part in that. The crypto markets are just these powder cakes ready to blow. We have institutional investors coming in, we have better infrastructure than we have ever had before for the crypto industry and businesses are using and investing in blockchain technology.

 

Let us know your opinion on the Deloitte’s report in the comments section below.

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Adoption

Are Cryptos and Government like Water and Oil?

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Cryptos are not only good for the public but also very beneficial for governments as well. In most cases, governments are starting to utilize cryptos.

There is no denying that cryptos are nothing but a benefit to our modern lives. People use these digital assets from their many functions. These could be the transparency of companies, the anonymity in their use and overall profitability of trading them. However, cryptos are not only good for the general public but also very beneficial for governments as well. In most cases, governments are starting to utilize cryptos as a means of running banking operations or bypassing international sanctions with their use. The speed at which cryptos can be transferred completely trump the old ways, like Wire transfer, it is a much more effective way of doing business. But how exactly do governments see cryptos? Do they consider it a threat, or a boon?

 

Iran and Russia – best examples

Both Iran and Russia are currently facing a lot of sanctions from pretty much the whole world. Their political actions have caused them a lot of trouble in terms of their economies, and something needed to be done to bypass them somehow. You probably already know that businessmen don’t really care what a country has done in the past, as long as they can pay for their services. This was the case with Russia in the start of 2017 when predictions were made that their economy would continue tumbling down, the weakening of the Rubble is a testimony to that, therefore an alternative to international business was desperately needed. Same case with Iran.

 

Iran has gone as far as giving a national cryptocurrency the green light after their fiasco with Donald Trump. It’s just too hard to handle all of these sanctions and an Iranian state cryptocurrency can definitely give them a chance to breathe. The realization of the project, however, remains uncertain, as many aspects are still being discussed among the authorities.

Russians had the same idea about a potential “Crypto Rubble”, but it was quickly disregarded. You see, Russia holds a lot more authority in the world, therefore nobody could truly dare to “go all in” in terms of sanctions. This meant that Russia still had a lot of opportunities as sanctions became softer and softer, therefore the idea was scrapped at the beginning, but the fact that it was introduced is already a good indicator.

 

 China – bypassing own restrictions

China is well on its way to digitalizing most of its industries. However, this didn’t stop them from banning cryptos. However, many experts believe that the ban will soon be lifted as the government is starting to see cryptos in a new light. The fact is that the 70 companies, currently operating in the free trading zone of Guandong, have achieved quite a lot, and the Chinese government has noticed. Add that to the fact that Chinese are the least likely to use cash when making a purchase, and you have yourself a recipe for a crypto haven.

 

More to come

As cryptos continue to grow, despite their price fall in the recent past, governments are finding it un-affordable to ignore them. They are all gearing up for an actual crypto dominated future, and it can be seen. The success of Ripple-Net is also a testimony to the bright future, as banks are starting to utilize the digital assets more often. The fear that ensured bans in some countries is starting to fade away, as authorities start to actually research and learn more about cryptos. It is just a matter of time before everything switched over, but which crypto will it be?

 

No matter what you think about Bitcoin or Ripple, the cryptos that will be most prominent on a national level, will definitely be stablecoins, which the governments themselves will undertake in terms of development. So keep an eye out, you don’t want to miss the big prize.

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#Bitcoin

Federal Reserve Bank: Altcoins are the primary reason for bitcoin price fall.

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Federal Reserve Bank of St.Louis explains the three likely possibilities of the future of bitcoin. an indefinite increase, zero or somewhere in between.

A blog published by the Federal Reserve Bank of St.Louis explains the three likely possibilities of the future of bitcoin. These are

  • indefinite increase in value,
  • zero

or

  • somewhere in between

According to the bank, they believe that bitcoin will be somewhere in between. According to the writers, the major element that is bringing down the price of bitcoin is the increasing supply of altcoins or bitcoin alternatives. The bitcoin market is quite volatile and the demand for bitcoin is the only reason for the price increase and decrease and not the fixed supply. If there were no alternatives to bitcoin or if there were no altcoins then probably all the money currently in the cryptocurrency market would have been invested in bitcoin solely.

According to the economists are the Federal Reserve, if a restaurant sells meals for $10 that is equal to one Hamilton bill ($10) or two Lincoln bills ($5+$5). If the supply of Lincoln bills is increased, that would not change the current scenario of the ratio of 2:1 between the two bills.

 

What’s the real value of bitcoin?

The price of bitcoin and other altcoins is still undiscoverable. According to some analysts, bitcoin price increased massively due to the hype created in 2017 which also increased the price of other bitcoin alternatives or altcoins while others believe that it was just a coincidence. The use case of bitcoin is one of the prominent reasons for the mass adoption and the price increase. Institutional investors are still in their early phases of investing in bitcoin and altcoins. The increase in the institutional interest will thrive the price of bitcoin in the future. With the adoption rising with things like the BAKKT exchange, NASDAQ bitcoin futures and bitcoin ETFs being launched, this would eventually increase the demand for bitcoin and in due course of time, the price of bitcoin is likely to experience a bullish momentum.

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