Viewing a response to: @sandwichbill/how-long-will-it-take-for-banks-to-adopt-xrp
I doubt it will ever be adopted. Replacing a technology or any system at a bank or any large organisation is a big operational pain in the ass. Then there is competition from other private blockchain technologies. Xrp is a very targetted solution and they have been partnering with almost every financial entity in both developed and emerging markets so may be some prototype is launched. I still doubt that adoption will happen this year. Bitcoin used for cross fx transfers is still limited. As long as bitcoin use case scenario does not increase, and banks dont lose out on business, they can wait and watch. All the hype around btc and crypto is still about price and not examples of how its being used daily to facilitate some form.of transactions.
post_id | 50,508,996 |
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author | karamyog |
permlink | re-sandwichbill-how-long-will-it-take-for-banks-to-adopt-xrp-20180527t125559712z |
category | bitcoin |
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xCurrent and xRapid is set-up and tested by Ripple on behalf of the banks in order to solve the current cross-border payment system, Swift, which *is* a pain in the ass for banks (Nostro and Vostro accounts) Some of the biggest banks in the world have xCurrent and are already testing XRP. This is an example of a use-case scenario which is happening now and it is one that Bitcoin could not solve for the banks, even with the Lightning Network, because Bitcoin is proof-of-work (subject to mining exploitation) , rather than Ripple's consensus network.
post_id | 50,514,870 |
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author | sandwichbill |
permlink | re-karamyog-re-sandwichbill-how-long-will-it-take-for-banks-to-adopt-xrp-20180527t134801177z |
category | bitcoin |
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