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SWIFT banking transactions being done by XRP blockchain. Settlement takes place in minutes vs 1-2 weeks. Is just one. I don’t have the time to do your resear

SWIFT banking transactions being done by XRP blockchain. Settlement takes place in minutes vs 1-2 weeks. Is just one. I don’t have the time to do your research for you. If you want to ignore the paradigm disruption that is happening. That’s on you. Accounting 101… Eliminating the need for a centralized party, one must trust, in the middle of transactions. Enabling triple entry accounting. Eliminating fraud between counter parties. Eliminating the middle man. So many industries rely on a trusted central party/authority. What happens when they get disrupted. Peer to peer is happening. Defi is currently paying 19.5% interest on stable coins. And loans are at 1% interest. Financial services are being turned into software contracts. Eliminating physical infrastructure, employees, overhead. With costs so low, rates are better.

arcticbull 5y ago
> SWIFT banking transactions being done by XRP blockchain. A classical solution, not an extant classical solution. Check out ISO 20022. Obviously a SWIFT message takes a few milliseconds to make its way to a correspondent bank. The extra time is AML/KYC. Avoiding that is what we call regulatory arbitrage. Yes, if you pretend regulations don't exist you can do things faster - sometimes cheaper! For instance, you can just dump carcinogens in the local river. > I don’t have the time to do your research for you. Ah yes the classic refrain of the coiner in a corner. > Eliminating fraud between counter parties. Yes crypto is a famously fraud-free space. [1] > So many industries rely on a trusted central party/authority. What happens when they get disrupted. Peer to peer is happening. Yeah bud middle men exist because they create value. If they didn't people would, and this is true, disintermediate them. Say what you will about capitalism, it's famously good at removing waste. > Defi is currently paying 19.5% interest on stable coins. And loans are at 1% interest. Yes we call this a failure to price in risk. Again, see [1]. This sounds like the refrain of those advocating for mortgage-backed securities in 2007. > With costs so low, rates are better. Again, no, this is a failure to price risk. This is "FrEe TenDies" a-la the legend of 1r0nyman and his box spreads. To quote the legend himself, "literally can't go tits up." [2] [1] https://rekt.news https://rekt.news [2] https://www.reddit.com/r/wallstreetbets/comments/ahy7dy/the_legend_of_1r0nyman/ https://www.reddit.com/r/wallstreetbets/comments/ahy7dy/the_...
nicholasbraker 5y ago
And Quant with their Overledger product binds traditional finance and crypto/blockchain together with an enterprise product, but their attitude towards the crypto scene is ambiguous at best but irritated at its worst.

arcticbull 5y ago

> SWIFT banking transactions being done by XRP blockchain. A classical solution, not an extant classical solution. Check out ISO 20022. Obviously a SWIFT message takes a few milliseconds to make its way to a correspondent bank. The extra time is AML/KYC. Avoiding that is what we call regulatory arbitrage. Yes, if you pretend regulations don't exist you can do things faster - sometimes cheaper! For instance, you can just dump carcinogens in the local river. > I don’t have the time to do your research for you. Ah yes the classic refrain of the coiner in a corner. > Eliminating fraud between counter parties. Yes crypto is a famously fraud-free space. [1] > So many industries rely on a trusted central party/authority. What happens when they get disrupted. Peer to peer is happening. Yeah bud middle men exist because they create value. If they didn't people would, and this is true, disintermediate them. Say what you will about capitalism, it's famously good at removing waste. > Defi is currently paying 19.5% interest on stable coins. And loans are at 1% interest. Yes we call this a failure to price in risk. Again, see [1]. This sounds like the refrain of those advocating for mortgage-backed securities in 2007. > With costs so low, rates are better. Again, no, this is a failure to price risk. This is "FrEe TenDies" a-la the legend of 1r0nyman and his box spreads. To quote the legend himself, "literally can't go tits up." [2] [1] https://rekt.news https://rekt.news [2] https://www.reddit.com/r/wallstreetbets/comments/ahy7dy/the_legend_of_1r0nyman/ https://www.reddit.com/r/wallstreetbets/comments/ahy7dy/the_...

nicholasbraker 5y ago

And Quant with their Overledger product binds traditional finance and crypto/blockchain together with an enterprise product, but their attitude towards the crypto scene is ambiguous at best but irritated at its worst.