Last week we covered a news story about R3 Instimatch Intraday/Money-market solution. You can find the article here: R3 Instimatch Intraday/Money-market solution
Last night, the man the myth the legend Yoshitaka Kitao tweets this amazing article to us from the Japanese Coin Post:
— 北尾吉孝 (@yoshitaka_kitao) February 27, 2019
What this tweet is saying, and it is translated so keep that in mind is the following “More than 50 banks to trial operation of virtual currency XRP settlement | From the “Corda Settler” Implementation on the platform of the day trading high 15 trillion yen https://coinpost.jp/?p=70175 @coin_post”
15 trillion yen is a massive number, but remember we have to convert this to USD to get the true price and it comes out to $130 billion.
So why is this big news? The pilot is live! That is why! XRP has been implemented into the pilot of Corda Settler where more than 50 banks are now testing XRP. Once these tests wrap up you better bet your ass they are going to go live. Think about this for a second. 50+ banks are testing XRP on Corda Setller. When these banks see how fast value is being moved around and how cheap it is what do you think there next steps are? TO GO LIVE WITH THE PLATFORM!
This will trigger a snowball effect. 50 banks go live on Corda Settler with XRP as a settlement mechanism, other banks get wind of how much they are saving and then they run a test, they see how well the test is and how much they are saving so they go live and on and on.
“This trial operation is being conducted in distributed applications (dApps) integrating Corda Settler which is a settlement API in order to provide quick settlement required for daytime transactions, and the bank, family office, and public It is said to be equipped with safety according to the EU General Data Protection Rule (GDPR) for liquidity exchange between institutional investors, etc.”
Debajana Mohanty Consultant, and Solution Architect said:
My Strong Belief Its That DLT Technology As AttoCordablockchain And Money Transfer Mechanisms As AttoRipple Together Can Give Birth To Many New Business Use Cases Which Were Simply Not Possible Before. Our Product Is One Among Them
– Debajani Mohanty (@ debimr 75) February 14, 2019“