/biz/ - Business & Finance

Here's a hard pill for you to swallow:

Everyone talked about the exact same thing in 2016 and about how XRP would be used by financial companies etc. but the implementation did not come. Ripple has several products, the most popular of which does not even use XRP for liquidity. They paid MoneyGram to go out and advertise their partnership with XRP. There has always been sick hype around their SWELL conference and after that there are always big sales of disappointment.

We do the following thought experiments: I am a bank. The problem I want to solve is verification of payments online with direct clearing. I am traditionally prepared to take zero risks with money that is in transfer.

I can choose between 1) a private blockchain from Ripple Inc or SWIFT's own product that will sooner or later be launched, or 2) a public blockchain where the price can theoretically be manipulated by Chinese and people who post frogs on the internet and where volatility risks be anything but stable because the transaction takes place with an asset that is traded on various exchanges around the world.

If you think that the banks choose 2, I also think XRP has a serious chance.