Something I couldn’t find while recording:
https://www.xrpchat.com/topic/21590-xrapid-not-aimed-at-banks-according-to-david-schwartz/
I quote: ‘
XRP should not be used to make us rich in anyway, so, of course it’s a settlement tool, not a get rich quick scheme. I would defend that argument with my dear life too.
XRP was made for settlements to solve the nostro/vostro problem, but now it’s being used by companies and banks for international and national payments.
So XRP might end up solving the liquidity problem and the nostro/vostro problem, but not necessarily intra banking transactions. That’s why most banks are with R3, because they don’t solve the settlement problem. There’s an article of a manager from BNP paribas (top 10 biggest banks) on why Ripple doesn’t fit their needs and R3 does. It’s because of Corda being a private ledger.
So, no Xrapid isn’t “for banks”, it’s to solve the settlement issue.’
– Sirthinkalot
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