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Swift has high fees, approx $30 per transaction, and 6% of those transactions require some sort of human intervention down the line, the last time I checked. I

Swift has high fees, approx $30 per transaction, and 6% of those transactions require some sort of human intervention down the line, the last time I checked. If you believe Ripple's marketing [1], a remittance company sending $12b of payments a year stands to save 33% on operational costs using their xCurrent software. It would also take seconds to send payments instead of days. [1] https://ripple.com/files/xrp_cost_model_paper.pdf https://ripple.com/files/xrp_cost_model_paper.pdf

snarf21 8y ago
One person's high fees are another person's profit centers.
- acchow 8y ago
  I don't understand what your point is.
  - snarf21 8y ago
    I was trying to say that high fees for the consumer are the profit centers for the banks. (Which is why in my opinion the banks would never use Ripple.)
    - acchow 8y ago
      So, this is basically the opposite of how free markets work.
Nursie 8y ago
Eh, SWIFT's GPI service apparently already only takes a few seconds, not days, and has around 150 banks signed up and using it, and it's transferring over 100 billion USD per day.
trophycase 8y ago
So how does Ripple make money then?
- froocpu2 8y ago
  $10m implementation fee, plus it attempts to make the conversion from using xCurrent (which doesn't need XRP) to xRapid (which does), the incentive being that you save more.