Quote from: JoelKatz on May 31, 2017, 06:23:38 PM

That's not possible. The various international currencies change value with respect to each other. While these changes are typically small, so are the costs and profits associated with payments.

Yes of course I mean the numbers will change with respect to each other

E.g today they may be:

1 x R3 = $0.25
1 X R3 = £0.20

Tomorrow they might be:

1 X R3 = $0.21
1 X R3 = £0.22

Quote from: joel

They already have this. They just do it for every fiat currency. The problem is that it doesn't actually move value. So it requires a separation between payment and settlement. The problem we're solving is the actual movement of value.

When it comes to fiat, value isn't a real physical thing. Its just an arbitrary concept based on what people believe is true. It is based on consensus and expectations. Perhaps a better definition of what you mean by value might help, because value isnt this concrete thing you're saying.

To move so called "value", all you have to do is put a minus on the sending side and a plus on the receiving side..that's all there is to it.

If I want to send $10k from India to USA, its a 10k debit in India and a 10k credit in USA.

However you want to track that (using a token) doesnt mean you have to buy the token as well in order to "settle"

Quote from: joel

Because only a token that can be bought and sold has actual value and therefore can serve as an actual means of settlement. Imagine, for example, a European banking hub that needs to settle with an Indian banking hub. Market makers in India might well be willing to swap Rupees for XRP if they can use those Rupees to pick up Euros for cheap or use them to fund their own extraterritorial payments.

I think there might be confusion as to what we mean by value. Value is based on consensus and expectations and isnt fixed in stone. Especially when it comes to fiat. If all global banks make an agreement that they will use R3 token (pegged at whatever rate, which varies as mentioned above), then that serves as the means of settlement as well.

I could use R3 token to do the same thing as what you propose, without their being any sellable value of itself, outside its immediate function of tracking who is owed what

Quote from: joel

For sure banks will do these kinds of things, but I think XRP is well-positioned to compete with them. In particular, XRP is well-positioned to bridge these jurisdiction-specific and currency-specific domestic payment schemes.

I see...it may come down to the way the proposition is positioned at the end of the day. Because positioning is of course important. I dont see banks being dumb though and if they have an R3 option sitting there (where they dont have to pay to buy the token, and there is no volatility from open market prices) then that can change things and compete with XRP effectively