🚨Patented RippleNET ODL - ENDGAME🚨
🔥 What are patents US2021192501A1 / WO2021126787A1, and why are they significant?
🔥 Cross-MEDUIM vs Cross-BORDER transactions
🔥 Was the SEC lawsuit motivated by these patents?
🔥Why has Ripple pivoted from #ODL branding to #XRP?
🧵
Lets break down patent US2021192501A1...
Title: "Network computing system implementing on-demand liquidity for cross-medium transaction services"
Filed: 2/21/2020
Granted: 1/26/2021
1/16
What is On-Demand-Liquidity according to the patent?
Put simply, it is "a computing system... that implements a cross-medium transaction service by leveraging the use of a digital currency and ledger (e.g., a decentralized, distributed ledger)".
2/16
This system is meant to replace the need for "clearing houses and/or nostro/vostro accounts" along with acting as an RTGS system.
3/16
What is important to note is that this system is not only meant for cross-currency transactions but cross-medium. The transfer of commodities, other digital currencies and assets, bonds, stocks and securities...
4/16
Use cases covered by the system in this patent, not only include financial institutions but it also includes those that "may be associated with any financial institution".
5/16
Using on-demand-liquidity for cross-medium transactions also extends to services provided via PC's, smartphones, PDAs, laptops, tablets, VR and/or (AR) devices, wearable computing devices, television (IP Television), in-vehicle devices, or on-board computers. 🤯
6/16
Do you see the magnitude of this patent?
Ripple has the legal right to process ALL TRANSACTIONS that use a digital currency and a ledger for cross-medium transactions... Read that again. They have patented the most efficient method of processing cross-medium transactions.
7/16
IMO All the worlds future value will likely be found on DLT. This means that Ripple has positioned RippleNET to be THE GLOBAL CLEARING HOUSE for all cross-medium transactions.
⚠️No other entity has the legal right to use a digital currency and ledger for this purpose.
8/16
At this point, some are saying "But bruh! Thats a US patent! It means nothing to the rest of the world"
You would be right. But that is where WO2021126787A1 comes in. The "WO" designates the patent as protected under the WIPO and recognized by 193 member states.
9/16
Ripple has the patent, but there was one missing element...
The patent is ambiguous and does not mention a specific "ledger and digital currency" to be used. They needed a non-security that was fast and efficient. But their premiere assets legal status was unclear...
10/16
Coincidentally, just weeks before the patent was approved, the SEC filed the lawsuit...
2/21/2020 - US2021192501A1 Filed
12/14/2020 - WO2021126787A1 Filed
12/22/2020 - SEC Lawsuit
1/24/2021 - WO2021126787A1 Granted
1/26/2021 - US2021192501A1 Granted
A curse? A blessing.
11/16
As I noted in an earlier, Ripple seems to have pivoted away from the ODL branding. I surmise this is because they no longer need to be ambiguous about what asset would be their main workhorse. XRP is the only DA officially declared a non-security.
12/16
x.com/UtilityFTW/sta…
So what happens now? With Ripple having the keys to the kingdom of cross-medium transactions, I speculate that the snowball will start slow. But as soon as the big players are using digital currency, they will gravitate to the cheapest and most efficient clearing house.
13/16
I doubt that Ripple will replace entities like The Clearing House, CME Group, or SWIFT any time soon. However, I would bet they become RippleNET members. As the economy digitizes, more and more institutions will likely take advantage of RippleNET benefits.
14/16
Ripple cannot on-board the entire world. They will require a massive network of cooperation to adopt the tech.
In line with cooperation, on July 31st, Ripple was place on the list of "Financial Infrastructures" on a BIS taskforce for x-border interoperability.
15/16
Although the news of the patent is a few years old, I believe it is still evolving and worth attention. Ripple has clearly locked down the future of RippleNET and XRP. Ripple's recent acquisitions of Metaco and Fortress Trust, have me very excited to watch the show.
16/16
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