XRP is THE crypto currency having a real world business case which is actively being implemented world wide -> becoming a true global crypto used for international payments.
Some people argue they don't like it because it is the banker's coin of choice. They miss the point that XRP accelerates the adoption of blockchain technology among banks allowing you and me to finally hold our money and tokenized securities in our own wallets.
And yes the banks need Ripple the software plus XRP the coin to achieve true savings in global crossboarder payments.
keep seeing misleading posts, like Mr. Jmana's below. The financial outfits trying "Ripple" right now are using Ripple the company's XCurrent. Which is a system, involving Ripple the company's Interledger. It allows financial companies to send/rec. various currencies internationally faster than now and at low cost, taking about 1/2 day right now (compared to 3 upwards to 7 days). Then there is the XRP ledger for sending/rec. XRP. Ripple the company also has a system called XRapid. This is where financial institutions can send/rec. XRP very quickly and at low cost using their Xcurrent system. We are talking 5 seconds and for about $3.00.
They also have a system called Xvia - but that is for another day (and yes XRP can be used on Xvia too). What Ripple the company is doing is brilliant...they are testing everything real time while gaining the trust of major banks/institutions. They are doing this on their XCurrent / Interledger system. THEN they are showing the banks what is next, which is XRP coin. Of 1,400+ coins/tokens out there Ripple company is one of the few gaining the banks' trust first. Trust with a T is paramount, a must. They are smart, smart, smart business owners/managers running Ripple. XRP is going to zoom up and it is only a matter of time. People saying "banks don't use XRP" are correct today....but not in the future.
jmana
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@JohnKer, lol, misleading. So banks aren't using it today. I was just stating the fact as it currently stands. The future is speculation. I hope banks do use it, and pass on the operational savings to their customers.
jmana
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The banks don't use XRP. They use Ripple Labs technology. There is a very big difference.
bmw_b
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@jmana, I have been in banking for 35 years and built multiple payment systems based on SWIFT.
To benefit they must use Ripple technology **combined** with XRP. Ripple technology will only allow them to bypass the SWIFT network, not a considerable saving nor any big time saver. Only when coupled with XRP the time and money savings kick-in.
jmana
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@bmw_b, thanks for taking the time to share your experience. I have a question for you if you have another moment. Are the banks replacing SWIFT with Ripple Tech and is that in combination with XRP?
bmw_b
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@jmana, you have no question. You are one of those persons that argue just wanting to win their argument. If you really want to know read the news published by Ripple, Ripple News and XRP news.
@jmana, your incorrect, versus saying your wrong. Banks WILL be using XRP once you understand what Ripple the company is doing. They start them with Ripple's technology and using Xcurrency (which is Ripple's too), but the real fast low cost international payment solution is using XRP. Banks will figure this out soon and will be buying XRP in large amounts.
jmana
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@JohnKer, thanks for the clarification. So, banks will be buying XRP in large amounts. How many XRP are in existance, and will there be a cap on the number of XRP?
JohnKer
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@jmana, That information is easily available when you research it online. Glad to talk, but I'm not a research assistant. Good luck to you.
They also have a system called Xvia - but that is for another day (and yes XRP can be used on Xvia too). What Ripple the company is doing is brilliant...they are testing everything real time while gaining the trust of major banks/institutions. They are doing this on their XCurrent / Interledger system. THEN they are showing the banks what is next, which is XRP coin. Of 1,400+ coins/tokens out there Ripple company is one of the few gaining the banks' trust first. Trust with a T is paramount, a must. They are smart, smart, smart business owners/managers running Ripple. XRP is going to zoom up and it is only a matter of time. People saying "banks don't use XRP" are correct today....but not in the future.