Even The Feds Want In on Ripple (XRP) Crypto Alt coin

Could the Fed Reserve the bane of the US's existence (sarc sort of) use Ripple for payments?

A while back (January, 2017), 16 proposals from various payment providers were submitted to the Faster Payments Task Force and Ripple (XRP) made haste of the opportunity to pitch its fast, secure and cheap payment option. This task force was led by the Federal Reserve of the United States of America.

theindependentrepublic.com...

The Fed put out a number of goals that need to be met, and Ripple nails it.

The Federal Reserve of the United States had seen (and probably is still working on) a need to keep up with the changing technologies for money transfers and did not want to be left behind.

Hence why it engaged technology stakeholders to guarantee the following goals:

- Increase speeds of payments in a cost effective manner
- Securely transfer any funds inside the U.S and globally
- Do so in an efficient manner that improves value to consumer and businesses
- Apply these payment methods internationally
- The payment system would have to be collectively identified and embraced by a broad array of payment participants, with material progress in implementing them

The Fed also has strategies to achieve these goals and again block chain tech is a perfect fit, that is Ripple is a perfect fit.

The Federal Reserve then had the following strategies to achieve these goals:

-Actively engage with stakeholders on initiatives designed to improve the U.S. payment system
- Identify effective approaches for implementing a safe, ubiquitous, faster payments capability in the United States (beginning in 2015)
- Work to reduce fraud risk and advance the safety, security and resiliency of the payment system (beginning in 2015)
- Achieve greater end-to-end efficiency for domestic and cross-border payments (2015 and beyond)
- Enhance Federal Reserve Bank payments, settlement and risk-management services (2015 and beyond)

The security that Ripple offers is a huge plus over other technologies and it meets and exceeds the Fed's requirements.

How does Ripple (XRP) fit in?

Firstly, Ripple (XRP) transactions are secure on the blockchain. A quality highly appreciated by not only the U.S government, but also all global governments, banks and organizations. This fits in to the goals of the Federal Reserve to have more secure payment options that are free from fraud since they are all recorded on the Ripple ledger.

This is why I am in crypto. Ripple is a in use "coin". Ripple is under trials with many many banks around the world. These investments are small for me, but the return potential is very great.


,,,

I do not see how there will be any massive gain if it's adopted by the feds.

When we had the gold standard gold was nowhere near as valuable as it is today.

a reply to: neo96

It does take a leap of faith and vision when buying into a new technology. Depending on when you do buy into this style of investment, and my investment in Ripple is approaching 300% since Sept 2017. Now gain is down from the high at the beginning of 2018 of nearly 1000% return.

This is a for real tech that lowers cost increases security and is super fast.

a reply to: seasonal

Yeah but there are a lot of other contenders.

I'd say hedge your bets.

a reply to: neo96

Yes.

There are a few that are slightly inferior to Ripple. The team Ripple has in place is one of the reasons I think that this coin is the leading contender not just for the Fed.

Talk is cheap, and the Ripple team does very little talking. They are in the industries signing contracts and are in BETA testing.

Surely if banks and the Fed begin using it, it will have to be 1 ripple equals one dollar. Otherwise the banks would become unstable if ripple fluctuates in value.

Either that or they will just use the technology and ignore ripple as a separate currency.

Either way you wouldn't make any money.

a reply to: Nexttimemaybe

Do you have a understanding how Ripple's XRP is used?

The Fed would not have to own the XRP but for 3.5 seconds during the money transfer, and it matters not if they are .01 cents or $100 a piece. As the payment would only buy the payments amount worth of XRP.

originally posted by: seasonal
a reply to: Nexttimemaybe

Do you have a understanding how Ripple's XRP is used?

The Fed would not have to own the XRP but for 3.5 seconds during the money transfer, and it matters not if they are .01 cents or $100 a piece. As the payment would only buy the payments amount worth of XRP.

Yes and my point still stands.

Shares in ripples company. If they have shares could make you money as it grows, like PayPal did. However it is used by banks will have no effect on the value of individual coins.

If the Fed wants in on bitcoin, will the Fed not just establish their own Fed-controlled coin and chain?

originally posted by: Painterz
If the Fed wants in on bitcoin, will the Fed not just establish their own Fed-controlled coin and chain?

Yes that's exactly what would happen.

Double post.

a reply to: Nexttimemaybe

Tell that to my stash of XRP that I bought at .21 cents that are approaching $1.00 (again). It's high was 3.80ish in early Jan 2018.
It is a highly volatile market, and buying in use coins is a must.

a reply to: seasonal

Why do they need Ripple? banks could clear transfers immediately if they wanted to.

a reply to: sligtlyskeptical

Have you ever sent money at a bank?

The SWIFT system is outdated and isn't capable of moving at the speed required, today with SWIFT it takes 3 business days and costs at least $25. I am not aware of security issues with SWIFT meaning it is secure.

Ripple takes under 4 seconds-super secure and costs around .0004 cents or XRP (I can't recall) to send the $$$.

Time will tell. At least XRP is recovering nicely so far, from the crypto crash earlier. I was one of the schmucks who bought in at almost $2 though. (about $1.75)....

Here's a brilliant idea for the government.

Convert all Debt into Cryptocurrency debt. Issue all Treasury Notes and Bonds in crypto.

Then, crash the crypto currency and wipe out the debt.

Continue using the US Dollar as normal.

Debt problem solved.

a reply to: AMPTAH

Sadly, they are likely doing some small version of this for some off the books funding of deep blue projects.....

originally posted by: Gazrok
a reply to: AMPTAH

Sadly, they are likely doing some small version of this for some off the books funding of deep blue projects.....

So, do you think the government is secretly manipulating the cryptos to manage the debt?

Conceivably, they could have introduced the cryptos when it was worth pennies, then push bitcoin to $20,000, and dump it there to collect the "dollars" to pay down some debt. Hence, in effect, tricking the crypto community to pay off the government debt, without them realizing what is going on.

After a few cycles, pushing the cryptos up and taking it down again during the dumps, the government could, in effect, pay off all its debt, secretly.

Then, Trump comes out and declares the government debt free, courtesy of a "deep state black ops" program that employed the help of the generous investors to wipe out the debt.

There are some smart people in the NSA, surely, they must have suggested this "solution" to The Donald.

originally posted by: Gazrok
Time will tell. At least XRP is recovering nicely so far, from the crypto crash earlier. I was one of the schmucks who bought in at almost $2 though. (about $1.75)....

In my opinion you are not a schmuck. This could be a very valuable coin.


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originally posted by: Gazrok
a reply to: AMPTAH

'

I'm still in the red overall.



But the gap has been closing which is good.