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Ripple : xRapid/xCurrent Vs. Gpi – is SWIFT just delaying the inevitable?

Ripple update: xRapid/xCurrent Vs. Gpi – is SWIFT just delaying the inevitable?


Been digging around for unbiased, fact based information on gpi and while I don’t think it’s going to be as effective as Ripple for remittances, we can’t deny that getting transfer times to be more accurate and under 30 minutes will be an effective way for SWIFT to mitigate the bloodletting that’s going to happen to their marketshare once xRapid goes live.

A few things I was hoping the community could give me clarity on here is, it seems the combination of xRapid with xCurrent will be what enables banks working with Ripple to do what gpi will do, only cheaper and in near real time.

One thing I saw from the gpi futuristic style video, which actually wasn’t bad, was that their vision appears to be the ability to have a full dashboard for corporations to see a host of applicable data for their business that includes the ability to create SWIFT transfers themselves and see the money move in real time. (Currently SWIFT says gpi can send within 30 minutes 50% of the time, and under 24 hours nearly 100% of the time, so basically SWIFT can promote “same day transfers” which is not exactly an XRP killer as some haters try to say).

This dashboard type set up, similar to an online banking suit, seems to me to have the potential to be a big value add for SWFITs gpi project, even though I think they are probably a few years away from implementing a full suite like that. For now they seem to be content to just roll out faster transaction times for their banking clients as an attempt to “pre-empt” the inevitable wave of fintech companies that are going to gobble up SWIFTs hold on the market like a finger in a bowl full of piranas.

But – I caught myself wondering (and this might just be my ignorance when it comes to the ripple blockchain infrastructure) but isn’t it likely, or inevitable, that decentralized apps will be created on the network? Apps for example that work as fantastic dashboards for financial institutions that will manage their own transfers into and out of other currencies with the help of the XRP token?

Sorry for the long question, just getting some stuff out of my head. Please feel free to correct me where I am wrong. Thanks!




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About Ripple (XRP)



Ripple connects banks, payment providers and digital asset exchanges via RippleNet to provide one frictionless experience to send money globally. Banks and payment providers can use the digital asset XRP to further reduce their costs and access new markets. XRP is the fastest and most scalable digital asset today.

Author: Prole19

Score: 2

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