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.
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.