Bitcoin

[PNW bow hunter]

You handled a International wire transfer recently? Its clunky and involves intermediary banks.

Got it. Reading your post, it wasn’t clear you were referring to international transactions.

 

[PNW bow hunter]

International wire transfers take even more time.

Wire transfers will be as common as faxes in 2 years. Banks are developing their blockchain tech as we speak.

So if the wire transfer system is replaced in the next couple years with blockchain technology, would the banking institutions be using bitcoin to move the trillion’s of dollars daily in the US?

If they are developing the their own blockchain technology to build this system without the use of bitcoin, it seems like the blockchain technology is what would be valuable not any individual coin/token in this instance?


Very interesting stuff, the world is definitely changing fast with all the new technology!

 

[Poser]

So if the wire transfer system is replaced in the next couple years with blockchain technology, would the banking institutions be using bitcoin to move the trillion’s of dollars daily in the US?

If they are developing the their own blockchain technology to build this system without the use of bitcoin, it seems like the blockchain technology is what would be valuable not any individual coin/token in this instance?


Very interesting stuff, the world is definitely changing fast with all the new technology!

Potentially XRP is positioned to handle this specific task, functioning as a "bridge currency" that would possibly replace SWIFT. This would allow almost instant transfers and currency exchange. At least, that's Ripple's idea -it was developed as a cryptocurrency specifically for banking functions.

XRP is not necessarily a currency that people would use as "money", rather a currency that banks would use for the purpose of transfers. If you sent $100 USD to, say, Italy, you wouldn't manually convert to XRP, the banks would handle the exchange in XRP with the Italian currency equivalent available on the other side in a matter of seconds. There are other solutions working towards this same ends, but, at the moment, XRP is leading the pack.

 

[MountainTracker]

So if the wire transfer system is replaced in the next couple years with blockchain technology, would the banking institutions be using bitcoin to move the trillion’s of dollars daily in the US?

If they are developing the their own blockchain technology to build this system without the use of bitcoin, it seems like the blockchain technology is what would be valuable not any individual coin/token in this instance?


Very interesting stuff, the world is definitely changing fast with all the new technology!

I expect to see multiple stable coins from gov to banks. Btc/ysd will be the underlying asset which you can move into usdt or whatever stable coin is appropriate.


Sent from my iPhone using Tapatalk