Re:Fidelity CEO Abigail Johnson says the company is mining c...
by lojack on Friday September 29, 2017 @12:13PM
(#15366567)
> Doesn't it just require trust of a single party for settlements
If you're talking about two banks... There are thousands of banks out there all with varying levels of trust, and those banks all need to transfer funds between each other on a daily basis. Most banks only have direct relationships with a handful of other banks.
> Which you still sort of require in the ripple model because ripple owns a crap ton of it's own coinage (60% of the pot).
Yes, they own 60% of XRP available, but if you're settling a transfer between USD/EUR then you only need to trust ripple for the length of time for that settlement to happen.
Re:Fidelity CEO Abigail Johnson says the company is mining c...
by ric2b on Wednesday October 04, 2017 @06:43AM
(#15399495)
> Yes, they own 60% of XRP available, but if you're settling a transfer between USD/EUR then you only need to trust ripple for the length of time for that settlement to happen.
Which for a bank would be all the damn day because they wouldn't just be doing one transaction every 2 months.
Doesn't it just require trust of a single party for settlements (or any number of independent settlements parties)? Which you still sort of require in the ripple model because ripple owns a crap ton of it's own coinage (60% of the pot).