I seem to remember seeing a white paper on using crypto for international bank transactions, and there was a proposal that the currency be ISO certified. I went looking and Ripple was the only ISO certified crypto out there.
ISO20022. I think there are a few that are intended to be part of the ecosystem replacing the swift system. XRP is the big one I remember reading about. Xlm, xdc, and iota may have been the other ones. I think there were 4 or 5 I remember.
There are a few more. I think lumens, xdc and a couple others. But xrp seems to be in a good position. The only one with legal clarity besides bitcoin.
I've never understood the desire to own it for speculative purposes though. Ripple owns all the crypto. They can sell it whenever they want. Without scarcity the price is whatever they want it to be.
actually ripple owns about half of all XRP. But it's locked up in time release capsules so everyone knows when it might hit the market (or go directly to banks and skip retail). So no they absolutely cannot "sell it whenever they want". Among other things, It allows banks to not have to hold billions to facilitate currency exchange. There will be a liquidity crisis unlike the past. Ripple with it's XRP will be able to solve the crisis. The background work has been in the works for 10 plus years to get ready to "flip the switch" to the new system at the "right" time.
the money banks have to keep in reserve for exchange are called nostro vostro accounts. XRP will be a big part of the new system that in part will the need to hold money in various currencies. This will eliminate a lot of friction in the current system.
I seem to remember seeing a white paper on using crypto for international bank transactions, and there was a proposal that the currency be ISO certified. I went looking and Ripple was the only ISO certified crypto out there.
ISO20022. I think there are a few that are intended to be part of the ecosystem replacing the swift system. XRP is the big one I remember reading about. Xlm, xdc, and iota may have been the other ones. I think there were 4 or 5 I remember.
Algorand is another
There are a few more. I think lumens, xdc and a couple others. But xrp seems to be in a good position. The only one with legal clarity besides bitcoin.
Yea it seems like it’s THE crypto that is going to explode in amount.
I too did the research a while ago and it’s almost like they have a monopoly on crypto transactions with banks.
I've never understood the desire to own it for speculative purposes though. Ripple owns all the crypto. They can sell it whenever they want. Without scarcity the price is whatever they want it to be.
actually ripple owns about half of all XRP. But it's locked up in time release capsules so everyone knows when it might hit the market (or go directly to banks and skip retail). So no they absolutely cannot "sell it whenever they want". Among other things, It allows banks to not have to hold billions to facilitate currency exchange. There will be a liquidity crisis unlike the past. Ripple with it's XRP will be able to solve the crisis. The background work has been in the works for 10 plus years to get ready to "flip the switch" to the new system at the "right" time.
the money banks have to keep in reserve for exchange are called nostro vostro accounts. XRP will be a big part of the new system that in part will the need to hold money in various currencies. This will eliminate a lot of friction in the current system.