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Daily Xrp News

Daily Xrp News

Binance Adds a New Fiat Pair for XRP Liquidity

Binance, one of the biggest cryptocurrency exchanges in the world, has added another fiat pair for XRP liquidity. They added XRP/EUR along with a few other pairs as apart of their official announcement they made today.

The trading pairs will go live on Binance on January 3rd, 2019 at 8:00 AM UTC.

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Daily Xrp News

Riding “the Red Wave” with a Smile – DYOR

Riding

So, earlier this week I wrote a blog (https://xrpcommunity.blog/riding-the-red-wave-with-a-smile) regarding @XRP_Productions’ Satire Blogs on Coil – https://coil.com/u/XRP_Productions

David Schwartz responding on one of his tweets was absolutely in the top of his most favorite moments, but only 1 day later, there is something else that can be added to this list: His blog mentioned on a crypto websites:

https://beincrypto.com/xrp-community-trolled-for-two-years-by-fake-treasure-map/amp/?__twitter_impression=true

One of his blogs was all about Bearableguy 123 with the title:

XRP Community ENRAGED That Bearableguy Clues Ultimately Lead to Ovaltine Advertisement

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The blog, all about Bearableguy 123, showed Ovaltine as the masterbrain behind the riddle bear; being an advertisement stunt:

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The story:

Eagerly following his clues and devoting thousands of hours to deciphering his messages over the past two years, the XRP community collectively screamed in rage Wednesday when the final Bearableguy123 decoded riddle resulted in the sentence, “Be sure to drink your Ovaltine.”

“Two years I’ve been following that asshole’s treasure map, so-to-speak,” said another aggrieved community member, Reddit user ‘TenThousandDollarXRP’, “Hoping it would lead to a mind-blowing truth about the global financial system, XRP being the world reserve currency, ANYTHING like that. And what do I get? OVALTINE?! Up yours, Bearableguy!!”

The vitamin-laced chocolate drink powder company apologized for the two-year charade, explaining that they never meant to cause anyone any emotional stress.

“It was a cartoon bear in a jester’s hat,” said an Ovaltine representative, “We didn’t expect anyone to ever take it seriously.”

Pretty good article, BUT the XRPCommunity knew what time it was …
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Then, suddenly, although the article was shared on December 24th, today, December 29th Beincrypto.com came with the following article:

https://beincrypto.com/xrp-community-trolled-for-two-years-by-fake-treasure-map/amp/?__twitter_impression=true

The article writes about the XRPCommunity that had been taken for a ride.

The article reads that the XRPCommunity tried to find the identity of the cute little bear, but that Ovaltine is not the proper answer to their quest.

The writer was NOT sure if this would do anything to the XRP Price …

I have reached out to XRP the Standard Productions:, shared with him the story and asked for some feedback:

XRPTwin:
So, XRP the Standard Productions, what about this article… what is your reaction?

XRP the Standard Productions:
It is utterly hilarious. Ever heard of a military or government giving a message to a select group to find out which one is the mole? This is similar. My satirical articles will expose who are the morons in the crypto-press who do no research whatsoever. This is the equivalent of a political reporter sharing an Onion article. Hi-lar-i-ous.

XRPTwin:
How are you going to top this one?

XRP the Standard Productions:
I am focused on writing funny pieces of satire, some which make a strong point. I am not trying to ‘top’ anything… but mark my words: there will be other moments where my pieces are picked up by people who do no due diligence.

I reached out to the writer of the article, but he has not responded to share his side of the story…

Important lesson learnt: ALWAYS, I write ALWAYS DO YOUR OWN RESEARCH

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Daily Xrp News

Riding “the Red Wave” with a Smile

Riding

If you have bought XRP at the end of December 2017, January 2018, chances are part of your XRP holding is still under water, if you would sell this moment. Yes, I know Dollar Cost Averaging (Dollar-Cost-Averaging is a simple technique that entails investing a fixed amount of money in the same fund or stock at regular intervals over a long period of time; 401K’s use this technique). Still, many people still have a red portfolio (I know in Macau this is considered good, you guys read GREEN)…

Investing in Crypto Currency, your bank, investor or neighbor who is NOT invested, will all tell you: DON’T do it, it is very VERY risky, but YOU know what THEY do NOT know ….. Blockchain is the future, XRP is the future, heck, is the now and the future and yes, although it takes time ….. who is laughing in 2020, 2021, 2022 ! ! !

Another great saying: you only lose money if you sell …. Read it again: DO NOT SELL, if you do not have to. And yes I know, sometimes, you need to, but in the end, it is the long-term strategy that is going to laugh in the face of that neighbor, I know, you know, we all know, that we are going visit, gently knock on his door and laugh at his door for like 45 seconds, the minute XRP is showing us, we are all (secretly) thinking / dreaming of … craving for…

So, we need a laugh, a smile, a happy feeling, that helps us after we stared at the XRP price … I am guilty, I am trying to be positive, I am trying by:

Cooking with Wietse:
https://xrpcommunity.blog/cooking-with-wietse-wind/

Nothing BUT a Fairy Tale ! ! ! !:
https://xrpcommunity.blog/nothing-but-a-fairy-tale/

Superheroes; Ripple AND the XRP Community:
https://xrpcommunity.blog/superheroes-no-not-ripple-but-the-xrp-community/

BUT

Somebody should not pass by without being un-noticed ! ! !

One of XRPCommunity’s Blogger is definitely going for a “I am really funny” price with all the blogs he presents us. I am talking about XRP the Standard Productions (@XRP_Productions).

You must have read his blogs and maybe you have replied to one of his posts: FUD, SOURCE PLEASE, THIS IS FUNNY or of course replying with one of these guys:

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Hate him or Love him, but I wanted to know a little more about this guy, so I reached out to him: XRP the Standard Productions:
https://coil.com/u/XRP_Productions

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XRPTwin:
So XRP the Standard Productions, who is behind this Twitter Handle ….. what would you like to share?

XRP the Standard Productions:
In my day job, I’m an industry professional, though for privacy purposes I will refrain from saying which industry. I started out on XRPChat in the fall of 2017 after becoming enthralled by … XRP/ Ripple, and the pursuit of an Internet of Value. I regularly communicated with Hodor and other community members and soon transitioned to Twitter, which was becoming a great place to get all of the latest scuttlebutt (and to learn from people like David Schwartz and Matt Hamilton).

XRPTwin:
How did you come up with the idea, writing stories about the xrp industry; and why are you doing this?

XRP the Standard Productions:
When I was on XRP Chat, I would regularly think that XRP/ Ripple and the Internet of Value were potentially amazing subjects for short stories and creative projects. We are in the primordial stages of something that could profoundly change the world—how damned exciting and ripe with possibilities! I began a short story contest centered around XRP and had a blast. Many people you may know in the community contributed stories for it (Nordic Ann, JC Collins, Zerpenator, Tom Kuster and XRPTwin …. of course ! ! !).

I soon wrote and personally produced several other stories (with voice actors and illustrators) for fun and released them under ‘XRP the Standard Productions.’ I wanted to capture people’s imaginations and help to expand their view on XRP and the IOV. The productions were very expensive for me personally (with almost no return) and took a great deal of time.

XRPTwin: Please check out the following production:
Riding
I’ve always been a fan of ‘The Onion’, a satirical news outlet, and one day, I realized that the crypto world is potentially a never-ending source of great satirical content. Everyone who has been in crypto for longer than a week knows that it’s a giant insane-asylum.

XRPTwin:
Obviously you must know a fair deal about the XRPCommunity, to push their buttons, what do you Like more : the guys that love your stories or criticize and belittle you?

XRP the Standard Productions:
Both, equally. It gives me great joy to hear someone say that they laughed out loud at my article. I’m very happy to bring some humor and lighten up their day, if only for a few minutes. BUT I’m also somehow tickled greatly by the people who just react to the headline or who read the articles and don’t ‘get it’. I hold no animosity, but it never ceases to amaze me how many people can be so clueless about satire. Hopefully it is also fun for fans of my stuff to peruse through my Twitter threads to read the negative and confused comments.
Riding
XRPTwin:
How difficult to get new stories out?

XRP the Standard Productions:
Ideas come to me throughout my average day and I normally start by putting a headline in a new blog post on my Coil account cue so that I don’t forget. I then fill in the details as time permits. I’m not a professional writer, but I do feel I’m at least somewhat competent and can simulate a news article close enough for a little satirical endeavor like mine.

XRPTwin:
How many stories are out now?

XRP the Standard Productions:
Since I started posting in mid-November, I’ve tried to have a new story out almost every day. I’d say there are close to 40 satirical articles and counting. It’s tricky, but I’d love to be able to maintain one story a day.

XRPTwin:
What was the most fun article for you?

XRP the Standard Productions:
There were so many that made me laugh as I was typing them. It’s difficult to pick a favorite.
One that definitely comes to mind is the one in which Brad Garlinghouse accidentally sent 60 billion XRP to a Twitter scammer.
Riding

That still kind of cracks me up, especially the following part:
“It looked like David–it had his picture on it and everything,” said Garlinghouse. “So, I admit I got a little excited. I mean, how could I pass up the chance to turn 60 billion XRP into 180 billion XRP? That would’ve been a pretty cool deal.”

I also got a kick out of the fact that David Schwartz himself responded to someone in that Twitter thread who was chastising me. Schwartz said something like, “Brad does that kind of stuff all the time.” That was hilarious and seemed to imply that he understands and likes the satire. That puts a big smile on my face.
Riding

I do have to agree with the Standard Productions, the 60 billion transfer to me was the best. Specially because it is a major issue within the XRPCommunity, the fake XRP YouTube Channel. And indeed, major achievement that David Responded on the tweet … he is a sport ! ! !

XRPTwin:
Did you think it would be a hit/ flop before you started?

XRP the Standard Productions:
Hits and flops are all relative, but when I posted the first article, “Congress Unveils Bold 50-Year Fast-Track to Crypto Regulation” I expected a handful of people to chuckle and for most to ignore it. It ended up getting 52,000 Twitter impressions and 3,500 Coil visits, which was of course MUCH more than I ever anticipated. I’m averaging well over 1,000 link clicks for each article, so it feels good that I’m sending over 1,000 people to Coil every day. I would LOVE to see Coil and the whole web-monetization movement succeed and I really enjoy being part of the early days of it.

XRPTwin:
How much fun is it to write your stories and do they cost a lot of time?

XRP the Standard Productions:
It’s a lot of fun … I’m constantly cracking myself up, so even if no one else laughs, at least I’ve had a good time. It takes anywhere from 30 minutes to a couple of hours to get these satirical articles right. If I do any photoshopping, that adds to the time as well. Full disclosure: This is definitely a fun labor of love at this point and not a money-maker.

Riding
Funny Part from: Christine Lagarde Proud of Herself for Not Mentioning Ripple During ECB Speech

XRPTwin:
Some noteworthy reactions?

XRP the Standard Productions:
David Schwartz’s reaction was my favorite, of course. Digital Asset Investor has also gotten a kick out of the articles and has been quite kind in talking about them in his videos from time to time. I am continually amused by people who post things like, “FUD!” and “Fake News!” especially when the article is blatantly satirical on its face.
A few people have even said stuff like, “Coil is becoming the site for FAKE NEWS!” I must admit, that bothers me a bit, because I truly think that satire is often quite witty and honorable and is not even remotely in the same realm as harmful fake news. Luckily, those sentiments are few and far between.

XRPTwin:
A blog is a success if ….?
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XRP the Standard Productions:
you feel better overall after having written it.

XRPTwin:
I will stop when …..?

XRP the Standard Productions:
I feel like it.

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not officially confirmed but it may be an “XRP the Standard Productions” relative who is photobombing in the back

XRPTwin:
Is there a deeper meaning behind the blogs?

XRP the Standard Productions:
I would put my articles in three categories:

  1. Satire that makes a strong point
  2. Satire that is silly but makes a soft point
  3. Satire that is almost all just funny silliness.

XRPTwin:
When you read, ‘you should take content down, because, although Satire, new people investing in XRP could interpret this the wrong way’ …. Does this make you move towards the DELETE ALL button?

XRP the Standard Productions:
NOT AT ALL ! ! ! In fact, this is a passionate subject for me. Satire is always going to have the potential of confusing certain individuals and catalyzing a spectrum of responses. The effectiveness of the satire is a matter of opinion and will always be up for scrutiny, however the freedom of the author to post the satire should never be breached. Satire written on ANY subject has at least the possibility to cause some amount of confusion for newcomers (like ‘The Onion’ posting a satirical political piece), but a human being with basic intelligence realizes the satire quite quickly.

The articles are ridiculous on their face and although there are no bold disclaimers on each article (look at ‘The Onion’ and similar sites who also don’t have disclaimers on each article), there are disclaimers on my Twitter page as well as my Coil page. ALSO, I would implore people to review my pieces to see that the majority are plain silliness, with no content even remotely approaching anything dangerous or slanderous.
Riding
Screenshot from: China Wins Big at 2019 Bitcoin Awards

There you have it . . . I seriously think XRP the Standard Productions’ Blogs are far from the truth and are very clearly FAKE.

FAKE, but hits EVERY POINT it wants to hit, don’t get me wrong ! ! !

In times we all need to laugh, because our investment took us more South than we wanted to, it is absolutely a big salute to the content creator for sharing this magic: that gives us a smile on our faces; as long as you know it is SATIRE

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Daily Xrp News

Money – Money – Money

Money - Money - Money

A company that has a lot of liquidity doesn’t need money; or do they? the world, the cryptocurrency industry, the XRPCommunity were fed with the following tweet:

Money - Money - Money

Why does a company with a lot of money need … money … Why a Series C and why 200 million dollars ?!?!? The round was led by Tetragon together with SBI, well-known by the XRPCommunity, and @route66ventures.

A lot rumours, everybody “knows” what is happening … but what is happening. What is a Series C investment round. Let’s take a look at all the different Series Fundings and let’s discuss what a funding could be for

Alhough the market is still very young, read industry, Ripple is not unknown in the financial market. Bitcoin, you can think of it what you want, started this all and because of the scarcity it is a cryptocurrency that needs to be looked at. Looking at its flaws, as it is, it will not be the coin to take over the (inter) national transaction industry. A max of 21 million coins, probably 5 million are gone forever, 16 million coins are NOT enough coins to stay at the low price where it sits at the moment. For me that is a Supply and Demand situation and with / without flaws it will stick around for a little longer … It’s use case, although a lot would like to say none are buying / selling other cryptocurrency and you can use it for products in that “REAL” world out there … pizza … It became clear though that use case becomes more and more importantant … no use case, no future for a lot of coins/ tokens … according to even Brad Garlinghouse …

Continueing on Ripple in the Financial Market; you can be pro, you can be against, but that they have a use case, are making steps, are used (I am talking about software here), is a reason for businesses to liaise with the Californian based crypto company.

Funding, why and how does that work? Potential Investors, at particular moments look at companies and rate them on particular points: Where does the company stand, what has the management team done in the last year(s), agenda, what has been done, have deadlines been met, market size and of course risk … Does the company have a selling product and where does this product stand in the world it sells to. Does it actually have a market … and do they have market share ! ! !

I am not discussing the early stage funding rounds as these are not relevant … the so called pre-seed funding (pre-seed capital or pre-seed money) and seed funding (seed money or seed capital). These rounds of funding most of the time do not go beyond a million/ a couple million dollars. Angel Investors are well known to invest in this kind of funding rounds.

Besides these these, businesses can choose to do Series A, B and / or C funding rounds:

Series A:

After the seeding rounds series A is the first venture capital funding for a startup. In traditional Finance companies it refers to the class of preferred stock sold. Funding is larger than the seeding rounds and is mostly a couple to a couple tens of millions of dollars. It is the first injection for a company to make moves, invest and go to the next level.

Doing a Series A funding, you start with an accelerator. An accelerator takes a set amount of seed equity from a number of young startups in exchange for capital and mentorship. An Accelerator looks at track record and helps a business taking the right steps. The companies strategy and “magic” is very important and is the succes factor of the funding. “The money”, funding comes often from traditional venture capital firms, like Sequoia, Benchmark, Greylock, and Accel. Single investors may be interesting, “anchors” , but most of the time additional investors are looked for. Angel investors are also a group of investors, that are active in this kind of Series Funding, but most of the time, the amounts are already too high…

Series B:

Series B rounds also take companies to a next level, but more money is involved. The company has been developed, a strategy has been determined and the (short) future is very clear !!! Success is a definite and allows the company to talk to “the bigger investors”. More money is needed to head the company in the direction it wants to move into.
Companies undergoing a Series B funding round are well known in the industry and are taking the step, it is the airplane that flies around that famous “point of no return”, it is GO time!!! The valuation of the company is between 20 and 75 million dollars.

Series C:

Success has been a key factor and a new funding round is available. New products need to be introduced/ developed and that is why money is needed !!!
Investors are in it, to win it. 100% profit is, most of the times, a minimum, when looking at the potential of the investment. Scaling the company, fast growth are synonyms for Series C Funding.

There are three reasons why a Series C Funding is done:

  1. for an acquisition
  2. to be acqquired
  3. to support a public offering

Series C funding is often around 50 million dollars to 150 million dollars.
Hedge funds, Investment banks and Private Equity Firms are businesses to reach out to, if you are looking for Series C funding.

Acquisition could be one of the reasons to go through a Series C funding. The traditional approach, gaining market share may not go fast enough, so Series C Funding is used. Money is needed to acquire competitors or key players to move faster than without the acquisition.

To be acquired … It may be a way to show businesses or interesting parties that the company is healthy and would be a good investment … to be bought. It may be toooooo early for this option …

Another reason why companies go through Series C funding is to boost their valuation in anticipation of an IPO. An IPO is an initial public offering, a stock market launch, for example, is an offering in which company sharesare sold to institutional investors and usually retail investors.

Facts and hard data are more important than future success … still important though !!! Customers, Revenue Streams and Track Records are ingredients for a successfull Series C Funding.

Ripple

Series C Funding, what do we know … Acquisition or IPO ..

Ripple’s Series C Funding is 200 million dollars, what is very high. It was led by Tetragon with participation from SBI Holdings and Route 66 Ventures. These notable investors not only underscore Ripple’s long-term potential, but as partners, they offer invaluable industry insight and expertise to help Ripple’s business grow on a global scale. Looking at track record: more than 300 customers worldwide including the heavyweight partner MoneyGram.

So what will happen: Acquire, be Acquired or IPO.

This section is going to be an IMO , my OWN opinion:

Looking back at the earlier investment rounds, Ripple has had 13 Funding rounds, angel funding, seed funding, multiple Series A and B Funding. In total, what is publically known, Ripple has raised 121,6 Million Dollars in those 13 rounds.

13 rounds, 121 Million Dollars 1 round, 200 Million Dollars, that is already an achievement by itself.

Why so much money, if you already have so much money?

To ACQUIRE BUSINESSES !!!

Ripple has shown they want to become the world leader in the (inter)national payment industry, but there is more. I see this money raised to make a difference, to become world leader in:

  1. the DeFi Industry
  2. the Gaming Industry
  3. the Micro-Payment Industry
  4. the Smart-Contract Industry

Not in this order, maybe not all of them, maybe others, but Ripple is not only (inter)national payments. The DeFi industry has awoken the XRPCommunity, the Crypto Market and it is a big industry. Tokenizing all traditional financial vehicles, it is a world on its own and Ripple wants to play a role in it. We hear DeFi all around us;
Acquiring Logos, the decentralized payments platform, by Xpring, was a first clear sign; derivatives, loans, futures and forwards will be given more attention.

If you wonder why XRP needs “money”, for such a rich Company, getting a Series C Funding, I see it a little different. Yes, they have money, but the money is more into digital assets … XRP. If they would use those for an aquisition, the XRP, need to be sold, if money needs to go from Ripple to somebody else. That is selling a lot of XRP, not good for the price of it. Not sure if all the banks and financial institutions would like this… And we are absolutely not there yet…

There are still a lot of players out that in Payment have not made all the important decisions. They may have everything in place, but saving money is still a wanted part … X R P !!!

We have not seen anything yet and when the United States makes up their mind … regulate the industry, oh boy …. let’s brace ourselves.

The story goes around we are getting close seeing regulation of the industry with the “Crypto-Currency Act of 2020” but we will see. Regulating it is one thing, classifying all the crypto projects is the next.

I do stick with my SAYING:

XRP is the best kept secret in the wide-open ! ! !

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Daily Xrp News

Corridors: Liquidity Rising

Corridors: Liquidity Rising

Last week a friend went on a business trip to New York …. told her we were able to exchange some dollars, laying around in the house. She traded her Euros for Dollars and without thinking, the trade was done …. Euros for Dollars within minutes … Our little corridor.

Thinking about this in the international banking business this is absolutely unheard of. Many obstacles are standing between an easy transaction what many people are forgetting … why doesn’t Ripple just open corridors all over the world and let those transactions lead the way … let those XRP do what they were designed for, be used in XCurrent 4.0 –> XRapid …… no no no wait the buzzword is: O D L —) On Demand Liquidity ! ! !

We first have to establish something before we go into the issue Corridors: What is an international transaction and how is it done today. If you want to send some money from Germany to Belize, for example, you could basically go to a MoneyGram or Western Union, or Ria and 1. pay a fee 2. take it for granted that the service takes between 1 to 4 days and 3. risk anything that could go wrong within those 1 to 4 days; this of course, embodies one word: SWIFT.

Well, corridors, what are those: Corridors are pairs of fiat. Pools of liquidity in which XRP is held by exchanges and / or market makers in a partnership …… allowing a work around.

If we look at Ripple, they offer Banks multiple ways of sending money:

Bank-to-bank Fiat Currency Relationship

Corridors: Liquidity Rising

A fiat currency relationship is a bank holding a liquidity position with another and this liquidity is used for payments. One of the banks will be the Nostro Account; this bank holds the assets and the receiving banks is the Vostro Account; the liability issuer. This relationship can be pre-funded or with credit. The bank that holds the assets can earn Forex revenues; this would be ideal for high-volume corridors.

Third party Liquidity Provisioning

Corridors: Liquidity Rising

In this relationship a bank authorizes a third party to provide the FX liquidity for delivery of payments. Third-parties can hold accounts with both transacting banks and provides the FX for the transaction. Third parties take care of the “corridor issue” for banks as they have it already in place.

Settlement Through Digital Assets (XRP)
Corridors: Liquidity Rising

With International transactions settled using XRP, the sending bank and the receiving bank hold XRP; the digital asset. Makes it ideal for the not so common settlements, the exotic corridors, so to speak. No Nostro Accounts have to be in place, what by itself is already a huge advantage. These settlements will make use of the XRP Ledger.

So obviously readers of this blog are more interested in the third option: where XRP is used.

Looking at this third option, using XRP, … well, let’s take a little deeper look. Exchanges are helping to move a currency payment into XRP and back into another currency. So … , it all starts with Crypto Exchange partnerships.

At the moment Ripple has 4 preferred exchanges they work with:

  1. Bittrex: preferred digital asset exchange for US Dollar transactions.
  2. Bitso: preferred digital asset exchange for Mexican Pesos
    transactions.
  3. Coins.ph: preferred digital asset exchange for Philippines Pesos.
  4. Bitstamp: preferreddigital asset exchange for US Dollar transactions.

What we need to know is that all start-ups are required to get an M.T.L., a Money Transmitter License for each state of planned operations; according to U.S. law. Digital Currencies are still very new, so the rules are not that black or white … This is the first step that need to be taken.

Ripple, according to FinCEN, is a Money Service Business and is required to obtain a Money Service Business License; Money Service Businesses are businesses that transmit or convert money. It is not only Banks, but also Non-Bank Financial Institutions that fall into this category. Often you will find these doing services in underdeveloped regions/ countries where you hardly find banks.

Exchanges of virtual/ digital currencies are Money Transmitters per FinCEN. Corridors can be opened with the appropriate licensing.

So relationships with exchanges need to be made, have been made. More exchanges will be chosen in the (near) future … we all have heard names like CoinBase, Binance, Bitrue, Coinfield, … we’ll just have to wait and see ! ! !

Second step is finding small or medium size payment companies, start using these and start with the transactions.

This is where MoneyGram and other money transfer companies come into play. Starting from scratch is time-consuming but using Moneygram, Ria and Transfer Go for example, MoneyGram, with its 20.000+ corridors, gives you a head start. There is already volume in many of these corridors, so XRP can go into low volume production, they can use to build up liquidity and attract Market Makers.

Another important reason why MoneyGram, Ria & Transfer Go are important, they will allow banks to use XRP without touching it. The MoneyGram, Ria & Transfer Go’s of this world will do the transactions and this will be way to get around regulations. This will bring a new revenue stream for money transfer companies, for how long it takes though, as regulations will be clearer and banks would like to do their own transactions for data and for saving money.

How Does Ripple View New Corridors?

ForEx trading, and its role in providing an active market for cross-border remittance processors and banks, is an important one.

An ‘efficient’ market is one in which a transaction can be completed using one spot rate – the current exchange rate between currencies.

However, if there is not a lot of liquidity being traded between two currency pairings, it can sometimes result in ‘slippage’ of a rate as an exchange must dig deeper into its order book to find enough offers to meet the size of a large transaction.

Eventually, RippleNet’s ODL will be able to compete in efficient corridors (such as between the US Dollar and the Euro), but for the moment, inefficient corridors are regarded as low-hanging fruit.

David Schwartz’s Take

In a Reddit post from two years ago, David Schwartz elaborated on this point, and indicated that the creation of RippleNet’s products to replace SWIFT kept the long-term vision in mind with regards to using a digital asset (XRP) as a bridge between currencies.

Basically, Ripple’s plan is to ‘start with xCurrent’ (their real time messaging solution), and then ‘flip the switch’ using digital assets when XRP exhibited sufficient liquidity in a corridor:

"It's (lack of corridor liquidity) a painful chicken and egg problem.

So instead we designed a modern payment system that could support any form of settlement through ILP. The improvements on the payment side were so drastic that banks found value in the system even if the settlement still takes place using the correspondent banking system.

As this system gets adopted by FIs, more and more payments will be able to be bridged by XRP the minute XRP has the liquidity to bridge them."

This last part is the most exciting portion of his description of Ripple’s strategy, of course, because it indicates that eventually, XRP will be used for many corridors as its liquidity increases. It has shown that XRP’s average daily trade volume has been steadily increasing over time, even during the later stages of the crypto bear market.

Ripple’s In-house Liquidity Experts and Traders

In a recent interview, Brad Garlinghouse mentioned that Ripple no longer feels OTC sales of XRP are necessary as part of its ODL roll-out. He indicated that new customers could acquire XRP at market on exchanges dynamically, and that there was sufficient liquidity in newly targeted corridors.

This was a bit of a surprise for me, given Ripple’s recent acquisition of Algrim; but it also makes sense:

If Ripple is advocating that new customers utilize ODL by dynamically sourcing the XRP as transactions are processed, that means that the only thing they have to do to support these new corridors is to monitor liquidity and perhaps step in when needed. Having the team from Iceland ready to help supports this notion.

XRP Loans

In the same interview where Brad Garlinghouse mentioned that sales of OTC were no longer needed, he also stated that low-interest loans of XRP may be possible for institutions that wish to replace their Nostro account holdings with a stack of crypto.

It was a nice surprise to hear, since the last time I’d heard Ripple discuss the potential of XRP Loans was in an XRP markets report from over a year ago.

The notion of loans is an interesting one, since it potentially opens the door for other institutions or even individuals to enter the space; loaning XRP for interest is a fascinating prospect, although I’d wager the ‘low-interest’ portion of Brad Garlinghouse’s comment might provide a short-term monopoly on that business for the company, since it is the largest holder of XRP in the world.

How Ripple’s ODL Works Currently

Of course, the execution of a plan at a low level will sometimes reveal unexpected patterns or ways to minimize slippage. the implementation of Ripple’s ODL product is no exception, and XRP Community fans and researchers have noted certain patterns.

The most experienced researcher of Ripple’s ODL product and its resulting transactions on the XRP Ledger is, arguably, @H_M_X_ (Twitter avatar). He’s published his detailed approach for separating out these ODL-generated payments from the background noise of the ledger, using a combination of techniques. He’s open-sourced his tools and techniques on Github in the event that others would also like to use his approach on their own: @H_M_X_’s Github Repository

Using a US-to-Mexico example, the basic ODL transaction steps include:

Purchase XRP with USD at Bitstamp (**Originating** Exchange)
Send XRP to Bitso (via **RippleNet**)
Purchase Mexican pesos with XRP (**Beneficiary** Exchange)

These steps are reflected in Ripple’s public-facing collateral:

Corridors: Liquidity Rising

While we don’t have an insider’s viewpoint into how time frames and amounts of transactions are organized, we can see the ledger-based portion of how ODL works.

@H_M_X_ noted that transactions of various sizes are communicated in periodic intervals, in an effort to reduce slippage and access the best rates:

Corridors: Liquidity Rising

Of course, there may be other considerations at play as well, such as regulatory prohibitions of transaction sizes, or other requirements, but those are the aspects that are opaque to outside viewers.

@H_M_X_ has done an amazing job of isolating and identifying these ODL transactions, and noted that the number of payments in his tracked corridors has been growing quickly:

Corridors: Liquidity Rising

It’s an inspiring reminder of what’s in store for XRP holders as the digital asset continues to be adopted as a bridge asset for more and more remittance processors and banks.

To even show more of the great work done by @H_M_X_ , we will share two more graphs.

Corridors: Liquidity Rising
The count of transactions of only the destination tags that are suspected to be ODL customers
Corridors: Liquidity Rising
The amount of the transactions.

The Vision For The Future

In the same Reddit thread where he discusses the challenges associated with new corridors, David Schwartz provided the following inspiring comment:

"We're not trying to fight for a bigger slice of a tiny pie but for the biggest slice we can get of all the payments in the world, as the payment volume goes up because payments become faster and cheaper."

It’s a comment that reveals the big-picture, win-win thinking that’s driven many of the visionary solutions that Ripple has created; and based on the number of banks and other FIs that have been signing on, it appears that RippleNet may be more than a niche solution in banking; it may indeed grow to become the world’s payment backbone.

What would this mean for XRP?

There are limited quantities of XRP available for usage as a bridge asset, but it is divisible by one million, down to individual ‘drops.’ There will be no problem with enough units to represent value as it flows across the world’s borders.

Almost any significant percentage of the global payments utilizing ODL would translate into new a intersection of supply and demand that may make XRP holders quite satisfied.

Will Utility Outrun Speculation?

Brad Garlinghouse noted that, when the current corridor for the Mexican peso is activated within the ODL solution, it typically will comprise 80% of Bitso’s liquidity for the XRP-MXN pairing.

It’s an anecdotal example based on one of the first corridors to go live for ODL, but it may offer a glimpse into how Ripple’s solutions can significantly outstrip speculative traders. One reason to hesitate before extrapolating based on that example is that speculation should follow utility.

Markets will eventually correct themselves, even as obsolete industry icons like Bitcoin continue to coast on their fading momentum.

Recently Bitso was in the news regarding Ripple and XRP. Ripple has invested into the Mexican exchange in order to ensure liquidity of the cryptocurrency XRP. This enables the flow of cross-border payments. Besides the investment, Ripple’s SVP of product, Asheesh Birla, will join Bitso’s board. This may help for expansion to other countries in South America like Argentina, Brazil and the alike. Bitso plays a key role for Ripple and this will only prove to be a smart move. The Mexican corridor is already in place, let’s see where this Bitso investment moves us.

New Gateways are Forming

Another great example and very up to date is South Africa’s Xago launching an XRP-exclusive gateway. The first thing that needs to be addressed is South African liquidity. The price of XRP, yes, everybody is waiting for it to rise, but the liquidity is step one, price follows. Moving money across the world, starts with liquidity and companies like Xago make this happen. Seeing how important this is, we reached out and had a nice interaction with the Capetown-based Company. Debra Ogilvie-Roodt, Xago’s Chief Commercial Officer, took the time and shared some insights into Xago’s world

Interview with Xago: Debra Ogilvie-Roodt

Corridors: Liquidity Rising

Starting off our conversation, we would like to know a little more about Xago and the people that work for the company, how it all started

Hodor / XRPTwin:
Can you tell us something about the company and the people that work at Xago, how did it all start and what are the backgrounds?

Xago / Debra Ogilvie-Roodt:
It’s been a long road for us! The journey of Xago started in 2012 when Jurgen Kuhnel was at the time attempting to build a QR code payment system. During this period Bitcoin was becoming more prominent in South Africa and Jurgen & Sonya saw the potential and began to explore this avenue because they believed that QR code payments and Bitcoin made for a frictionless experience in removing the third party processors. Jurgen and Sonya then started attending Bitcoin meetups and became the first Bitpay affiliates for South Africa. It was then that the decision to focus all efforts on building a crypto payment platform was made and in 2016 and approached Mark Chirnside, a payments expert and together built a proof of concept.

It was during the development of this proof of concept that they became aware of Ripple and XRP and quickly realised the utility of this solution and the impact it could have on payments.

We then found a technology partner called Tenacious Digital, where our current CTO, Grant Pidwell, was a director, to develop the gateway backend for us. It was at this point that we finally had real tangible code and tech that would prove our theory. We then managed to secure additional funding from a number of Angel investors, and continued to build out the gateway and vision before securing a significant investment from African Technology Investments in order to build the team and launch our first product, the Ripple Gateway and XRP only exchange. This is the first step in fulfilling our long term vision of moving money faster more efficiently and of course reducing costs.

Maybe a long answer but we found it too informative to leave out words and to shorten Debra’s answer !!!

Hodor / XRPTwin:
So, Xago transfers assets using the Ripple Network. When did Ripple come into play; better question why Ripple?

Xago / Debra Ogilvie-Roodt:
As mentioned above we initially believed that Bitcoin was the solution we required, however Sonya, who became a serious advocate for blockchain technology, then suggested that we look at Ripple because of the speed of transactions, cost of transactions and number of transactions per second, it certainly seemed like the most competitive product for a retail payment environment. We engaged with the market and received positive feedback on Ripple and the use of XRP and we then forged ahead and built our proof of concept showing how you would be able to effect a Ripple payment, using your phone number at a retailer utilising their existing hardware and software.

Corridors: Liquidity Rising A peak at the office!

Hodor / XRPTwin:
The Exchange only allows customers with a South African Bank account, will you look into adding customers from other countries in the (near) future? Will this be the same for the currency that is used, the South African Rand?

Xago / Debra Ogilvie-Roodt:
Right now, we are fully focused on making our exchange a success in South Africa and building XRP / ZAR liquidity. We custom built our exchange and added unique features, such as the pegged order system, as we need to create price parity in order to fully realise our vision of building a payment platform that reduces cost. We do have a number of other African countries on our roadmap where we will be able to add other Fiat to XRP pairings but this will only be further down the line.

Hodor / XRPTwin:
What role will you have in South African Business’ accepting XRP as payment? Is this something you are trying to achieve?

Xago / Debra Ogilvie-Roodt:
Accepting XRP is a use-case we are looking at, but our main goal for utilising the XRP Ledger is to open up new payment channels for the retailers. This can be, for example, accepting any crypto at their point of sale where we act as an aggregator using XRP as our value transfer. For domestic use-cases this can be done without utilising a decentralised ledger, however, we see a future where we open up retail payments that incorporate the power of XRP in order to affect cross border transactions at the point of sale.

Today cross border transactions in Southern Africa averages 9.5% in fees and sometimes take up to 5 days to clear. The reason for this is because of the exotic currencies and small amounts that people are sending. The current local money transfer platforms have to batch payments and introduce processes like derisking (not holding onto these exotic currencies) in order to open up these channels. Most people sending money back home are usually doing this because of a serious need and have no choice but to pay these massive fees and wait.

We believe that if we can solve the liquidity issue and bring the XRP premium in line with the USD price we will be in a position to lower the fees and speed up the flow of funds between these customers. We would then integrate with retailers to use the point of sale as cash-in /cash-out facilities.

Hodor / XRPTwin:
Will two-factor authentication technology in some way slowdown adoption as this is time consuming and not every customer likes 2 FA?

Xago / Debra Ogilvie-Roodt:
We have designed our system where 2FA is mandatory and believe that other crypto providers should do the same. We would much rather enforce security, slowdown adoption and bring security to the font of mind of all users, particularly given that settlement is final with crypto. As a consumer you need to understand that there is no recourse once the transaction has taken place. We also believe that we should follow similar processes set out by banks to protect your assets and 2FA plays an important role in protecting the users assets on our exchange.

Hodor / XRPTwin:
How far is South Africa with crypto currency regulations? How does the country look at the regulations situation in the United States?

Xago / Debra Ogilvie-Roodt:
Regulation really differs quite dramatically from country to country with each central bank taking their own view and approach to crypto, and whilst we try to keep informed of the role regulation is playing with regards to crypto globally, at present we are focused on South Africa and Africa as these are the markets we will serve. In South Africa, our Central Bank has been quite progressive, and though there is no formal regulation we have had papers published by the Central Bank to provide guidance on what regulation will most likely look like, what will be expected of exchanges and the requirements we will need to meet. The most important of these being KYC requirements and customer due diligence in order to comply with strict AML/CTF policies. When the regulation comes out, we expect that it will incorporate all these policies and therefore have built our business platform and procedures so that we will be ready for it. We are engaging continuously with the Central Bank as we believe that working closely with them can only be beneficial for the long-term vision of our business.
Corridors: Liquidity RisingHodor / XRPTwin:
As we all know Mojaloop, made available by the Bill & Melinda Gates Foundation, also tries to bank the un-banked? Have you spoken to the Foundation or have you looked at Mojaloop?

Xago / Debra Ogilvie-Roodt:
We have engaged with the Bill & Melinda Gates Foundation regarding Mojaloop but at the time our product was not at a stage where we were ready to formally open discussions. We do hope to pick-up the discussions as we believe collaboration would be beneficial for the ecosystem as a whole and we aspire to their vision of financial inclusion.

This final question is just a confirmation Xago is on the right path and ready to lead the way in the African continent with Ripple at their side. We want to thank the team for their great efforts in making time for us, especially Debra Ogilvie-Roodt. We will hear a lot of this team in the (near) future.

Corridors: Liquidity Rising

We have not nearly touched everything in this blog regarding corridors, as it is a massive topic.

Where it started so smooth with a “friendly transaction”, we figured out there is a lot more to get the payment done in real life. We are definitely getting much closer to a situation where sender and receiver are sharing the same amount of money; wherever you live in the world at whatever time it is in the world. Let’s stay close with all the changes that are coming.

Thank you Ripple , @H_M_X_ , Rick, Xago, especially Debra and Hodor (and XRPTwin a little bit) for the teamwork getting this blog done.

This one is specifically for Hodor, my Big Blog Brother ! ! !

Corridors: Liquidity Rising

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Daily Xrp News

Big Numbers: Big Money

Big Numbers: Big Money

During the long ‘crypto winter,’ we were witness to the negative characterization of crypto by mainstream media.

Countless times, they seemed to delight in labeling the cryptomarket as ‘in a bubble,’ or ‘based only on speculation.’

Part of this was based on the percentage increases in the price of the digital assets that comprise the market. And the percentage increases are – and can be – astounding; however, all of the numbers we’ve seen thus far in relation to this new and growing asset category do not compare to the amount of capital that is part of everyday existence in the traditional halls of finance.

Look at Stripe.

Stripe is a fintech founded in 2010 that helps businesses process online payments. They have an entire suite of online and ‘checkout’ tools to assist online retailers.

Like Ripple, the company is based in San Francisco and counts a number of blue-chip companies as clients. They have not yet ‘gone public,’ but have instead, for the moment, decided to remain private, accessing capital through successive funding rounds:

Big Numbers: Big Money

Their latest funding round brought in $250 million in new funding.

But more amazing than its ability to raise cash through additional funding rounds is the company’s growing market valuation, which is estimated to be around $35 billion dollars.

And Stripe is but one example of many in Silicon Valley. I’ve recently analyzed the possibility of what would happen if Ripple goes public; the valuation I used for that analysis was half of Stripe’s estimated market value. These types of scenarios are very real, and serve to add a potential complication to what would otherwise be un-interrupted laser focus on building the IoV.

The flip side of these ‘large numbers’ and massive amounts of capital in traditional markets is that they also provide a measure of what we can eventually expect for the entire market of digital assets once the industry matures and plateaus as streaming technology and other capabilities are further developed. It took the Internet quite a few years before the major players with real use cases were identified apart from the ‘noise’ in the larger market.

XRP’s use case is measured using numbers that are too large for the human mind to grasp; Ripple’s own estimates indicate that there is approximately ten trillion dollars locked up in Nostro accounts overseas; and FinCen estimated that the ForEx market, when combined with other markets such as cross-border payments, accounts for trillions of dollars’ worth of value each day.

It’s unclear what percentage of this traffic is currently a part of RippleNet, and it’s also unclear what percentage of these numbers will eventually settle through the XRP Ledger; however, the percentages don’t have to be large to have a profound effect on where the price levels of digital assets like XRP will plateau. The numbers of payments flowing through xRapid is increasing week-over-week; and it looks like XRP is going to be the ‘standard’ when it comes to payment streaming as well, with Coil announcing recently that they’d processed over 10 billion payments using standards-based technology.

The cryptomarket is shifting its focus to digital assets with utility, and chief among them is the one created for cross-border payments and real-time streaming of value: XRP

General Crypto News

On September 20ᵗʰ, a number of mainstream news outlets reported that CME Group was planning on extending its offerings to include ‘options’ on its Bitcoin futures. This decision will increase the number of ways in which traditional investors can access returns based on the cryptomarket:

Big Numbers: Big Money

Financial products such as futures or options allow organizations to hedge their risk exposure while owning digital assets. The more that these products are available on a competitive basis, the more that conservative businesses such as banks can effectively manage their risk while holding these assets.

This strategy – holding a volatile asset and then hedging risk by betting against it – is a frequent way to minimize financial exposure.

In addition, new financial products such as options and futures allow any trader to purchase them and take calculated positions either ‘long’ or ‘short,’ adding more liquidity into the overall cryptomarket.

While these developments may seem opaque to some crypto owners, it’s a collective indication of how crypto is becoming more connected to significant sources of liquidity and finance. Another major development that is scheduled for September is the introduction of Bakkt’s physically-delivered Bitcoin futures.

Bakkt’s debut is scheduled for September 23ʳᵈ.

Ripple News

Ripple’s corporate website underwent a design makeover last week:

Big Numbers: Big Money

The new design promotes ‘RippleNet’ to a more appropriate central location on the site, occupying the first drop-down interface on the main page. Ripple has also decided to use its home page to publish a combination of compelling customer testimonials along with an easy-to-follow path for investigating RippleNet:

Big Numbers: Big Money

This well-defined and friendly introduction to joining RippleNet is important for the company’s next phase of growth, and provides a nice user interface for potential customers.

In addition to this impressive redesign of its corporate website, Ripple also, perhaps unintentionally, revealed two new customers that were not publicized prior to the fresh content. An XRP fan noticed two names that they’d not seen before:

  • Interbank
  • Vitesse

Interbank: Interbank is a Peruvian bank founded in 1897. It’s one of the largest banks in Peru, alongside BBVA, Scotiabank Peru, and BCP. It’s a serious competitor in the financial sector, with 230 branches and over 1,500 ATMs.

Big Numbers: Big Money

Vitesse: Vitesse is a UK-based bank founded in 2013 and licensed by the Financial Conduct Authority. While I don’t have a good idea of how large Vitesse is, it’s obvious that it is targeting services at connecting new fintechs with traditional banking and regulatory compliance. It offers services geared for establishing a compliant way for developers to deploy P2P applications and other platforms.

Big Numbers: Big Money

We don’t know what Ripple solutions these two banks are using, but the conservative guess is that they’re at least using xCurrent, the Ripple messaging software that replaces SWIFT and supports real-time settlement.

Ripple is already on-boarding banks with increasing frequency, and hopefully this new site design accelerates the trend even further, and helps the world achieve a full replacement for all legacy SWIFT customers.

KPMG Future of Payments

KPMG is one of the ‘big four’ consulting firms. As part of its value proposition for high-end customers, the partnership conducts industry research in high-tech fields and in fintech areas to help inform their clients about new technology. The firm recently conducted a series of interviews with influential individuals in both fintech and in payments, and shared the videos on their corporate website:

Big Numbers: Big Money

Professionals from PayPal, MUFG, Mastercard, and Ripple participated in the interviews, with Marcus Treacher providing a two-minute introduction for how Ripple can help organizations free up liquidity:

“𝘛𝘩𝘦 𝘸𝘰𝘳𝘭𝘥 𝘩𝘢𝘴 𝘢 𝘷𝘦𝘳𝘺 𝘣𝘪𝘨 𝘭𝘪𝘲𝘶𝘪𝘥𝘪𝘵𝘺 𝘱𝘳𝘰𝘣𝘭𝘦𝘮 𝘵𝘰𝘥𝘢𝘺. 𝘞𝘩𝘢𝘵’𝘴 𝘩𝘢𝘱𝘱𝘦𝘯𝘪𝘯𝘨 𝘪𝘴 𝘵𝘩𝘢𝘵 𝘤𝘰𝘮𝘱𝘢𝘯𝘪𝘦𝘴 𝘢𝘯𝘥 𝘣𝘢𝘯𝘬𝘴 𝘩𝘢𝘷𝘦 𝘵𝘰 𝘮𝘢𝘪𝘯𝘵𝘢𝘪𝘯 𝘵𝘳𝘪𝘭𝘭𝘪𝘰𝘯𝘴 𝘰𝘧 𝘥𝘰𝘭𝘭𝘢𝘳𝘴 𝘪𝘯 𝘰𝘷𝘦𝘳𝘴𝘦𝘢𝘴 𝘢𝘴𝘴𝘦𝘵𝘴 𝘢𝘳𝘰𝘶𝘯𝘥 𝘵𝘩𝘦 𝘸𝘰𝘳𝘭𝘥 𝘵𝘰 𝘧𝘶𝘯𝘥 𝘵𝘩𝘦𝘴𝘦 𝘷𝘦𝘳𝘺 𝘴𝘭𝘰𝘸-𝘮𝘰𝘷𝘪𝘯𝘨, 𝘩𝘪𝘨𝘩-𝘷𝘢𝘭𝘶𝘦, 𝘲𝘶𝘪𝘵𝘦 𝘭𝘰𝘸-𝘷𝘰𝘭𝘶𝘮𝘦 𝘱𝘢𝘺𝘮𝘦𝘯𝘵𝘴 𝘵𝘩𝘢𝘵 𝘢𝘳𝘦 𝘮𝘰𝘷𝘪𝘯𝘨 𝘢𝘳𝘰𝘶𝘯𝘥 𝘥𝘢𝘺-𝘵𝘰-𝘥𝘢𝘺.

𝘈𝘯𝘥 𝘵𝘩𝘢𝘵 𝘤𝘳𝘦𝘢𝘵𝘦𝘴 𝘢𝘯 𝘦𝘯𝘰𝘳𝘮𝘰𝘶𝘴 𝘥𝘳𝘢𝘨 𝘰𝘯 𝘵𝘩𝘦 𝘨𝘭𝘰𝘣𝘢𝘭 𝘦𝘤𝘰𝘯𝘰𝘮𝘺, 𝘪𝘵’𝘴 𝘵𝘪𝘦𝘥 𝘶𝘱 𝘤𝘢𝘱𝘪𝘵𝘢𝘭; 𝘪𝘵’𝘴 𝘵𝘪𝘦𝘥 𝘶𝘱 𝘮𝘰𝘯𝘦𝘺;

𝘕𝘰𝘸 𝘸𝘦 𝘵𝘩𝘪𝘯𝘬 𝘸𝘦 𝘤𝘢𝘯 𝘴𝘰𝘭𝘷𝘦 𝘵𝘩𝘢𝘵 𝘱𝘳𝘰𝘣𝘭𝘦𝘮 𝘣𝘺 𝘳𝘦𝘵𝘩𝘪𝘯𝘬𝘪𝘯𝘨 𝘩𝘰𝘸 𝘭𝘪𝘲𝘶𝘪𝘥𝘪𝘵𝘺 𝘪𝘴 𝘥𝘦𝘭𝘪𝘷𝘦𝘳𝘦𝘥 𝘵𝘰 𝘵𝘩𝘦 𝘦𝘯𝘥-𝘶𝘴𝘦𝘳. 𝘛𝘰 𝘥𝘰 𝘵𝘩𝘢𝘵, 𝘸𝘦 𝘢𝘳𝘦 𝘥𝘦𝘷𝘦𝘭𝘰𝘱𝘪𝘯𝘨 𝘴𝘰𝘭𝘶𝘵𝘪𝘰𝘯𝘴 𝘢𝘳𝘰𝘶𝘯𝘥 𝘥𝘪𝘨𝘪𝘵𝘢𝘭 𝘢𝘴𝘴𝘦𝘵𝘴.

𝘍𝘰𝘳 𝘦𝘹𝘢𝘮𝘱𝘭𝘦, 𝘸𝘦 𝘶𝘴𝘦 𝘟𝘙𝘗 𝘢𝘴 𝘢 𝘥𝘪𝘨𝘪𝘵𝘢𝘭 𝘢𝘴𝘴𝘦𝘵; 𝘪𝘵’𝘴 𝘥𝘦𝘴𝘪𝘨𝘯𝘦𝘥 𝘢𝘯𝘥 𝘧𝘪𝘯𝘦-𝘵𝘶𝘯𝘦𝘥 𝘧𝘰𝘳 𝘦𝘯𝘰𝘳𝘮𝘰𝘶𝘴 𝘩𝘪𝘨𝘩-𝘴𝘱𝘦𝘦𝘥 𝘢𝘯𝘥 𝘪𝘮𝘮𝘦𝘥𝘪𝘢𝘵𝘦 𝘥𝘦𝘭𝘪𝘷𝘦𝘳𝘺 𝘰𝘧 𝘷𝘢𝘭𝘶𝘦 𝘧𝘳𝘰𝘮 𝘰𝘯𝘦 𝘤𝘶𝘳𝘳𝘦𝘯𝘤𝘺 𝘵𝘰 𝘢𝘯𝘰𝘵𝘩𝘦𝘳.”

He also emphasized ‘openness’ of the future payment system as being a key factor; it was a nod to the interoperability that open standards like Interledger provide.

Seeing Ripple in the mix with some of these other payment industry trend-setters is a reflection of positive progress towards the Internet of Value and real-time settlement of digital transactions. My guess is that the other ‘big four’ consulting firms are also researching these same trends, and it wouldn’t surprise me to see some of Marcus Treacher’s insights quoted by other consultancies as well.

Legal Matters

Every startup deals with lawsuits.

How they respond to lawsuits is important, because normally successful startups are pioneering new innovations, approaches, or websites. This sort of new activity will inevitably encounter areas of public interaction that result in unforeseen outcomes, both positive and negative. And in some case, opportunists will bring what are known as ‘nuisance’ lawsuits.

Whatever category you believe the lawsuits against Ripple fall into, they are a reality that Ripple must contend with, and they’ve been diligently presenting their perspective in court over a considerable number of months. The latest newsworthy point happened on September 19ᵗʰ:

Big Numbers: Big Money

The link navigated to scribd, a platform that stores and displays legal documents.

Since the SEC chooses to allow court cases to decide on some key issues of security-related legal matters, the disposition of this and other cases against Ripple will have the unintended effect of setting legal precedents in the United States when it comes to what is regarded as a security and what is not.

Ripple’s motion to dismiss has now been filed; when it comes to these legal proceedings, it’s important for XRP fans to track the outcome, because lawsuits can sometimes positively or negatively affect business plans. In the case of Ripple, there will continue to be lawsuits occasionally just by nature of its role as a leader in blockchain technology; there are very few legal precedents related to this new industry.

And in this case, resolving some of these XRP-related lawsuits may assist in moving adoption of digital assets forward more quickly.

InstaReM

InstaReM is an xRapid and xVia partner with Ripple.

Because of its membership in RippleNet, and especially because of its use of xRapid, XRP fans actively track business developments associated with the company. InstaReM is a cross-border payment operator that was founded in 2014 in Singapore; it has offices throughout the world, in Singapore, Australia, Malaysia, Hong Kong, India, USA, Canada and the EU.

Because of its use of xRapid, its costs are some of the lowest on the market, and it competes successfully with other payment processors that use traditional SWIFT technology to transfer money using a multi-day turnaround time.

On September 3ʳᵈ, the company announced that they were expanding service into Canada:

Big Numbers: Big Money

The Canadian corridor is important, because a large number of ex-patriots from other InstaReM-serviced countries work there and send money back home to family. The company announced that they:

“… 𝘳𝘦𝘨𝘪𝘴𝘵𝘦𝘳𝘦𝘥 𝘢𝘴 𝘢 𝘔𝘰𝘯𝘦𝘺 𝘚𝘦𝘳𝘷𝘪𝘤𝘦 𝘉𝘶𝘴𝘪𝘯𝘦𝘴𝘴 𝘸𝘪𝘵𝘩 𝘵𝘩𝘦 𝘍𝘪𝘯𝘢𝘯𝘤𝘪𝘢𝘭 𝘛𝘳𝘢𝘯𝘴𝘢𝘤𝘵𝘪𝘰𝘯𝘴 𝘢𝘯𝘥 𝘙𝘦𝘱𝘰𝘳𝘵𝘴 𝘈𝘯𝘢𝘭𝘺𝘴𝘪𝘴 𝘊𝘦𝘯𝘵𝘳𝘦 𝘰𝘧 𝘊𝘢𝘯𝘢𝘥𝘢 (𝘍𝘐𝘕𝘛𝘙𝘈𝘊) 𝘵𝘰 𝘳𝘦𝘮𝘪𝘵 𝘢𝘯𝘥 𝘵𝘳𝘢𝘯𝘴𝘮𝘪𝘵 𝘧𝘶𝘯𝘥𝘴 𝘰𝘶𝘵 𝘰𝘧 𝘊𝘢𝘯𝘢𝘥𝘢.”

It’s great to see InstaReM expand its service into Canada; their use of RippleNet and specifically some of the products like xVia and xRapid have helped them to achieve low costs that allow them to successfully compete against the larger players. Kudos to the team at InstaReM, and hopefully we’ll hear more from them about cost savings specifically attributable to their use of XRP.

xRapid Tracking

One of the XRP Community fans that has dedicated themselves to successfully identifying and tracking xRapid transaction volumes is @hmatejx (Twitter avatar).

He’s continually updated his technical approach to sort through payments and filter them to get a data set of xRapid transactions. Once he’s accessed this resulting data set, he’s able to stratify the transactions by exchange. Here is a recent tweet from @hmatejx:

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He’s also invited others to help him identity transactions; to successfully sort them, he normally uses ‘tags’ associated with each exchange. Large exchanges, including the xRapid partner exchanges, use XRPL ‘tags’ to separate out amounts related to each customer. And it’s these tags that allow H_M_X_ to successfully identity xRapid-related transactions.

To create these dramatic visualizations, he must first successfully identify data sets. His approaches, tools, and techniques are all described in his prior blogs, and in the Github repository he’s created: https://github.com/hmatejx/xrapid_search

Quantum Questions

Are you worried about the potential security threat represented by quantum entanglement?

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It’s a strange topic.

Development of this ‘spooky’ tech has taken place on a combination of public-facing and ‘dark’ black budget projects that are seeking to capitalize on the potential processing capabilities of quantum computers.

Essentially, modern computers are limited by the speed of light, so there exists a point of diminishing returns in the creation of faster and faster silicon-based central processing units of computers. The new quantum computers use something called ‘qubits’ that are capable of storing two potential values at the same time.

The topic is a popular one with cutting-edge computer scientists and programmers, and Google even helped make an early-version quantum computer available to researchers, known as ‘D-Wave.’

Even though the technology is still very much in research mode, there are those in the cryptomarket who are already using it to create fear, uncertainty, and doubt about some of the classical security algorithms used in current cryptography.

And occasionally, somebody that is not well-versed on the topic feels the need to expound on the hype surrounding the new technology:

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Presidential candidate Andrew Yang tweeted out his concern over an article describing Google’s ‘Quantum supremacy.’ In that tweet, he made the comment that ‘no code is uncrackable.’

Before any serious FUD appeared around the topic, Nik Bougalis from Ripple did some research into the matter and communicated his thoughts in a recent multi-tweet. I’ve taken his responses from multiple tweets and combined them here:

“𝘐𝘵’𝘴 𝘚𝘢𝘵𝘶𝘳𝘥𝘢𝘺 𝘯𝘪𝘨𝘩𝘵. 𝘐’𝘮 𝘢 𝘤𝘳𝘺𝘱𝘵𝘰𝘨𝘳𝘢𝘱𝘩𝘦𝘳. 𝘓𝘦𝘵’𝘴 𝘩𝘢𝘷𝘦 𝘢 𝘤𝘩𝘢𝘵 𝘢𝘣𝘰𝘶𝘵 𝘲𝘶𝘢𝘯𝘵𝘶𝘮 𝘤𝘰𝘮𝘱𝘶𝘵𝘦𝘳𝘴 𝘢𝘯𝘥 𝘤𝘳𝘺𝘱𝘵𝘰.

𝘎𝘰𝘰𝘨𝘭𝘦 𝘥𝘪𝘥𝘯’𝘵 𝘫𝘶𝘴𝘵 𝘢𝘤𝘩𝘪𝘦𝘷𝘦 𝘲𝘶𝘢𝘯𝘵𝘶𝘮 𝘤𝘰𝘮𝘱𝘶𝘵𝘪𝘯𝘨 𝘢𝘯𝘥 𝘦𝘷𝘦𝘯 𝘪𝘧 𝘵𝘩𝘦𝘺 𝘢𝘥𝘷𝘢𝘯𝘤𝘦𝘥 𝘵𝘩𝘦 𝘴𝘵𝘢𝘵𝘦 𝘰𝘧 𝘵𝘩𝘦 𝘢𝘳𝘵, 𝘐 𝘷𝘦𝘳𝘺 𝘮𝘶𝘤𝘩 𝘥𝘰𝘶𝘣𝘵 𝘵𝘩𝘢𝘵 𝘎𝘰𝘰𝘨𝘭𝘦 𝘩𝘢𝘴 𝘢𝘤𝘩𝘪𝘦𝘷𝘦𝘥 “𝘲𝘶𝘢𝘯𝘵𝘶𝘮 𝘴𝘶𝘱𝘳𝘦𝘮𝘢𝘤𝘺” 𝘪𝘯 𝘢 𝘮𝘦𝘢𝘯𝘪𝘯𝘨𝘧𝘶𝘭 𝘸𝘢𝘺.

𝘞𝘪𝘵𝘩 𝘵𝘩𝘢𝘵 𝘴𝘢𝘪𝘥, 𝘦𝘷𝘦𝘯 𝘪𝘧 𝘺𝘰𝘶 𝘥𝘰 𝘨𝘦𝘵 𝘲𝘶𝘢𝘯𝘵𝘶𝘮 𝘤𝘰𝘮𝘱𝘶𝘵𝘦𝘳𝘴, 𝘵𝘰 𝘴𝘢𝘺 𝘵𝘩𝘢𝘵 ‘𝘯𝘰 𝘤𝘰𝘥𝘦 𝘪𝘴 𝘶𝘯𝘤𝘳𝘢𝘤𝘬𝘢𝘣𝘭𝘦’ 𝘪𝘴 𝘴𝘪𝘮𝘱𝘭𝘺 𝘯𝘰𝘵 𝘵𝘳𝘶𝘦. 𝘠𝘦𝘴, (sic) 𝘰𝘧 𝘵𝘩𝘦 𝘤𝘳𝘺𝘱𝘵𝘰 𝘢𝘭𝘨𝘰𝘳𝘪𝘵𝘩𝘮𝘴 𝘸𝘦 𝘶𝘴𝘦 𝘤𝘢𝘯 𝘣𝘦 𝘢𝘵𝘵𝘢𝘤𝘬𝘦𝘥 𝘰𝘯𝘤𝘦 𝘨𝘦𝘯𝘦𝘳𝘢𝘭 𝘱𝘶𝘳𝘱𝘰𝘴𝘦 𝘲𝘶𝘢𝘯𝘵𝘶𝘮 𝘤𝘰𝘮𝘱𝘶𝘵𝘦𝘳𝘴 𝘸𝘪𝘵𝘩 𝘢 𝘴𝘶𝘧𝘧𝘪𝘤𝘪𝘦𝘯𝘵 𝘯𝘶𝘮𝘣𝘦𝘳 𝘰𝘧 𝘲𝘶𝘣𝘪𝘵𝘴 𝘢𝘳𝘦 𝘢𝘷𝘢𝘪𝘭𝘢𝘣𝘭𝘦.

𝘉𝘶𝘵 𝘸𝘦 𝘢𝘳𝘦𝘯’𝘵 𝘢𝘯𝘺𝘸𝘩𝘦𝘳𝘦 𝘯𝘦𝘢𝘳 𝘵𝘩𝘢𝘵 𝘢𝘯𝘥 𝘐 𝘥𝘰𝘯’𝘵 𝘴𝘦𝘦 𝘨𝘦𝘵𝘵𝘪𝘯𝘨 𝘵𝘩𝘦𝘳𝘦 𝘴𝘰𝘰𝘯. 𝘛𝘩𝘦𝘳𝘦 𝘢𝘳𝘦 𝘷𝘦𝘳𝘺 𝘩𝘢𝘳𝘥 𝘱𝘳𝘰𝘣𝘭𝘦𝘮𝘴 𝘸𝘦 𝘯𝘦𝘦𝘥 𝘵𝘰 𝘵𝘢𝘤𝘬𝘭𝘦 𝘧𝘪𝘳𝘴𝘵, 𝘪𝘯𝘷𝘰𝘭𝘷𝘪𝘯𝘨 𝘲𝘶𝘢𝘯𝘵𝘶𝘮 𝘥𝘦𝘤𝘰𝘩𝘦𝘳𝘦𝘯𝘤𝘦 𝘢𝘯𝘥 𝘪𝘯𝘵𝘦𝘳𝘧𝘦𝘳𝘦𝘯𝘤𝘦. 𝘛𝘩𝘪𝘴 𝘪𝘴 𝘪𝘮𝘱𝘰𝘳𝘵𝘢𝘯𝘵 𝘣𝘦𝘤𝘢𝘶𝘴𝘦 𝘸𝘦 𝘩𝘢𝘷𝘦 𝘲𝘶𝘢𝘯𝘵𝘶𝘮 𝘳𝘦𝘴𝘪𝘴𝘵𝘢𝘯𝘵 𝘢𝘭𝘨𝘰𝘳𝘪𝘵𝘩𝘮𝘴 𝘢𝘯𝘥 𝘵𝘩𝘦𝘳𝘦 𝘪𝘴 𝘢𝘤𝘵𝘪𝘷𝘦 (sic) 𝘳𝘦𝘴𝘦𝘢𝘳𝘤𝘩 𝘤𝘰𝘯𝘵𝘪𝘯𝘶𝘦𝘴.

𝘚𝘶𝘯𝘥𝘢𝘺 𝘮𝘰𝘳𝘯𝘪𝘯𝘨 𝘧𝘰𝘭𝘭𝘰𝘸-𝘶𝘱: 𝘪𝘵 𝘵𝘶𝘳𝘯𝘴 𝘰𝘶𝘵 @𝘪𝘴𝘪𝘴𝘭𝘰𝘷𝘦𝘤𝘳𝘶𝘧𝘵 𝘵𝘸𝘦𝘦𝘵𝘦𝘥 𝘢𝘣𝘰𝘶𝘵 𝘵𝘩𝘪𝘴 𝘪𝘴𝘴𝘶𝘦 𝘭𝘢𝘴𝘵 𝘯𝘪𝘨𝘩𝘵, 𝘨𝘰𝘪𝘯𝘨 𝘢 𝘭𝘰𝘵 𝘥𝘦𝘦𝘱𝘦𝘳 𝘵𝘩𝘢𝘯 𝘐 𝘥𝘪𝘥; 𝘧𝘰𝘳 𝘮𝘰𝘳𝘦 𝘪𝘯𝘧𝘰𝘳𝘮𝘢𝘵𝘪𝘰𝘯, 𝘺𝘰𝘶 𝘴𝘩𝘰𝘶𝘭𝘥 𝘵𝘢𝘬𝘦 𝘢 𝘮𝘪𝘯𝘶𝘵𝘦 𝘵𝘰 𝘳𝘦𝘢𝘥 𝘵𝘩𝘪𝘴 𝘵𝘩𝘳𝘦𝘢𝘥: 𝘩𝘵𝘵𝘱𝘴://𝘵𝘸𝘪𝘵𝘵𝘦𝘳.𝘤𝘰𝘮/𝘪𝘴𝘪𝘴𝘭𝘰𝘷𝘦𝘤𝘳𝘶𝘧𝘵/𝘴𝘵𝘢𝘵𝘶𝘴/1175557089067823104″

The communication was a proactive response to Andrew Yang’s ringing of alarm bells. Nik Bougalis’s multi-tweet served to demonstrate how Ripple is actively surveying new technology; quantum computing is probably one of a number of areas where the company is allocating its resources.

In any event, it’s a relief to know that Nik Bougalis is aware of these recent claims by Google engineers, even if they seem to enjoy engaging in hyperbole, to the dismay of those of us that take blockchain technology very seriously.

Coil

The team at Coil is not resting on their – incredible – accomplishments to date.

Instead, the company is continuing to make updates to its blogging platform as it also helps organize the next major phases to its roll-out of web monetization. On September 19ᵗʰ, the new site changes were noticed by multiple Coil fans, including me:

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The search is one of those generic searches that will match the targeted term against multiple post metadata fields, including the title of the post, or the author’s name.

The development model of continual improvements is a centerpiece of modern project management; it’s great to see Coil promoting some of these popular changes to their service.

Cinnamon Adds Feedback Feature

The Coil team is not the only group working diligently to improve their platform: Cinnamon, the new video platform that is pursuing a revenue model based on web monetization, is currently in a ‘closed’ release where a small group of individuals – including me – are experimenting and using the new site.

During this phase of the team’s development, they are continuing to make changes and continue their development. One of the new features they recently added to the service is the ability for viewers to add comments about videos after they’re published:

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The new capability mirrors that of popular video sharing sites such as YouTube, Vimeo, Bitchute, and others, and provides a way for viewers to interact directly with video creators.

My Coil Recommendations

Coil is continuing to attract more authors, including some where I was able to review at least one article (each). Here are the authors that were included in my reading list over the last two days:

Author: Rocco Balsamo@simmer_io
Article: Web Monetization Javascript API demo
Topic: web monetization

Author: XRPLLAMA@XRPLLAMA
Article: No need for labels to make an artist earn anymore.
Topic: music

Author: Doctor Change@Doctor_Change
Article: Moneygram, XRP and the Value of First Mover Advantage
Topic: XRP

Author: quinto mudigo@quintomudigo
Article: Secrets of becoming a successful trader
Topic: finance / trading

Author: WGhoop XARTP@WGhoop_XARTP
Article: Art Work by Goop XARTP
Topic: art

XRP News

One of the most common phrases that I impart to others on social media when it comes to crypto is ‘Do Your Own Research.’ It’s a term that, although perhaps overused a bit, still holds true in 2019.

For those researchers that like to use techniques for accessing the latest up-to-the-minute information about XRP or another crypto, having a strategy for checking Twitter posts is a necessary component of any comprehensive strategy.

Most grizzled crypto veterans have their own techniques for how to do this, borne of sometimes-painful experience in missing important updates or information.

There are two effective approaches to use Twitter for searching through posts:

  • Advanced Search
  • Lists

Lists
Twitter allows any user to create lists that are either public or private. I have my own lists, and I also sometimes examine the results from other Tweeter’s lists, such as the one maintained by Leonidas Hadjiloizou:

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In the above screenshot, you’ll see that it’s a two-step process for accessing somebody’s lists: navigate to their home page first. Then, choose the ellipse and you’ll see a choice for ‘View Lists.’ After you click on this choice, you’ll be able to activate the list for an individual.

Essentially, a list is a stored search that dynamically keeps searching for new tweets, which makes it a convenient tool.

Advanced Search
In addition to lists, you can always launch a one-off search and define new criteria. I use the advanced search on Twitter if I’m searching for a specific tweet, or if I’m interested in tweets pertaining to a particular topic. To access the search directly, you have to know a little bit about the URLs that Twitter uses to summon the user interface. In this case, I’ll provide the URL for you:

https://twitter.com/search-advanced

I’m not sure how to access this interface through the traditional Twitter home page, but this link will work regardless of where you happen to be. The advanced search allows you to target a specific topic, or if you know that a tweet exists on somebody’s timeline, you can zero in on it much more easily than by using a manual ‘scroll-and-look’ method.

Once you know about some of these approaches, doing your own research can benefit from the time saved.

Artwork in the XRP Community

It was hard not to notice the new profile picture for David Schwartz, Ripple’s CTO, on Twitter:

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The image was distinctive enough to make it memorable and noteworthy. Seeing a person’s image in broad brush-strokes evokes memories of family portraits hung in dark and dusty American households, or hung in antiseptic corporate offices.

For me, it symbolized the creativity inherent in translating a person’s likeness into paint.

The account that created this portrait is @WGhoop (Twitter avatar), and he’s a painter from New Zealand.

Over the last couple months, I’ve noticed other paintings that conform to his same style, including this one portraying @NordicAnn (Twitter avatar):

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@WGhoop indicated that his approach ‘started as an idea in a dream,’ and has registered a site that he plans on developing to display his work; it’s on his Twitter home page, along with a stream that includes tweets to others that have received his artwork as well.

He also authored a Coil blog that includes a large sampling of his catalog of work if you’re curious about seeing all of them in one place. @WGhoop_XARTP‘s Coil Article: https://coil.com/p/Goop_XARTP/Art-Work-by-Goop-XARTP/wL2IAUvJp

If you are thinking of contracting with him to commission a painting, he indicated that fans of his work can contact him directly (direct message) over Twitter.

Let Math Be Your Guide

Each person that invests in digital assets by buying-and-holding is aiming to capitalize on the possibility that the value of a digital asset might increase over time.

The most important measure of this probability comes from examining the use case(s) involved.

For XRP, its use cases include numbers that require scientific notation to describe the potential size of the market. The market for cross-border payments and ForEx is measured in the trillions of dollars per day. The market for streaming micropayments may be considerable as well, but nobody really knows for certain how large this new industry will grow.

We do know that XRP is the foremost asset being used in streaming these payments.

There is some poetic irony to the fact that Interledger, the core technology that makes streaming payments as part of the IoV possible, involves payments that are microscopic in size, and yet could be used to move money globally within a short period of time. ILP is a truly revolutionary technology, and the companies involved – including Ripple & Coil – are literally at the center of the storm, navigating the churning waters on a sea that has until now never been charted.

To stay up-to-date on how Coil, Ripple, and other XRP-related companies are changing international commerce, make sure to subscribe to my blog on Coil. And remember to support others in the XRP Community who are helping to spread the word about the fastest, most scalable, decentralized, secure, and dependable digital asset in the world.

Big Numbers: Big Money

Cover Art: Thank you to Thought Catalog
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