Share this page!

WrathofKahneman Profile picture
Twitter logo
Feb 25 • 8 tweets • 4 min read
Portfolio: Recently announced #Ripple partner Choice International (UK), is a co that supports money transfer businesses especially with de-risked nations requiring tight AML/KYC; places where liquidity is difficult. So how are they using ODL?
1/5
 choicemoney.co.uk/about-us
2. The main co offers all manner of services including cards and white labeled mobile apps.
choicemoney.co.uk/become-choice-…
3. Choice International also has a forex division, which seems like the most obvious ODL implementation. What is notable about their forex business is that they only facilitate tx's for tangible goods, b2b. -There is an invoice for every tx.
choice-forex.co.uk/about
4. Citing correspondent banking problems (esp. de-risked banks), they built a money matching system that locates flows in opposite direction of desired Tx to balance & make it possible. In principle it sounds like ODL. Is it, or just something ODL fits in?
choice-forex.co.uk/modern-forex
5. We'll have to wait for official confirmation, but the ODL use by such a tightly regulated business that prides itself on compliance in sticky corridors is a testament to ODL's use, and ironic given the US case.
6. That's it.
That's the end.
(aw man, forgot to put all the tags in: #Ripple #XRP #XRPL #ODL )
ref.

• • •

Missing some Tweet in this thread? You can try to force a refresh
　

Keep Current with WrathofKahneman

WrathofKahneman Profile picture

Stay in touch and get notified when new unrolls are available from this author!

Read all threads

This Thread may be Removed Anytime!

PDF

Twitter may remove this content at anytime! Save it as PDF for later use!

Try unrolling a thread yourself!

how to unroll video
  1. Follow @ThreadReaderApp to mention us!

  2. From a Twitter thread mention us with a keyword "unroll"
@threadreaderapp unroll

Practice here first or read more on our help page!

More from @WKahneman

WrathofKahneman Profile picture
Feb 26
Portfolio: New #Ripple partner Star Dreams General Trading is located in Dubai, "a regional leader in the import, processing and export of agri commodities. " There's not too much to say from the outside looking in, but there are a couple of points.
🧵/7
stardreamsgtl.com/about-us/ Image
2. Based in Dubai, by far the country serviced most is India (if I have accurate data). On it's own, this isn't remarkable, but given India's crypto ambivalence, it's a strong move to use ODL in corridors that might require INR?
panjiva.com/Star-Dreams-Ge…
reuters.com/world/india/no… #ODL #Ripple #XRP #star dre...
3. They also have shipped a number of places including Benin & UK, only interesting in light of #ODL because Benin uses the West African CFA franc (XOF). Eight African countries share this currency. You can find Columbia & Philippines, too.
en.52wmb.com/supplier/67163… Where #Ripple uses ODL?
Read 9 tweets
WrathofKahneman Profile picture
Jan 22
Can the XRPL represent the value of everything, all at once? Can $XRP be backed by gold? Both questions seem related to misunderstanding what $XRP is & how it functions, a boorish, simple🧵/14.
(Note: just condensing XRPL.org. All misunderstandings are mine.)
2. First, according to XRPL.org there are 2 types of assets on the XRPL.
1. XRP
2. Tokens.
That's it.
Two categories with different properties. Honestly could end the thread here. But I'm avoiding work, so here goes...
xrpl.org/currency-forma… $XRP
3. $XRP is the ledger's native token. It can be sent anywhere, from anyone & receipt is settlement. Don't have to wait for anything more. It secures the network as payment of a very small (but traffic scaled) tx cost & a required reserve for an account.
Read 16 tweets
WrathofKahneman Profile picture
Jan 21
Daily Davos Creeper thread; a collation of #Ripple news at the intersection of Davos (WEF) and the UAE. There's smoke, is there fire?
A 'lil 🧵
1/7
2. Let's start by noting the meta-discussion surrounding Brad's mention of #Ripple's status in the UAE. To the listener it seemed he believed alternate information about Ripple's UAE status, despite the UAE minister to his left asserting "You do not".
3. The UAE, at least in the press, was notably present, as are many countries, but it does seem they were making an effort, participating in seminars including sustainability, preparing for the future and crypto.
...in the Venn diagram, as they say.
zawya.com/en/press-relea…
Read 7 tweets
WrathofKahneman Profile picture
Jan 2
A brief overview for folks reading about @Ripple & $XRP use in 2023. Years ago, Ripple offered 3 products:
xCurrent = payment messaging
xRapid = #XRP as bridge currency
xVia = an API solution
Co's originally signed bilateral agreements w/ partners to move value. And now?
1/3 #RippleNet #ripple $XRP #XRPL #XRP
Now these functions are integrated into one service, "RippleNet," a payment suite managing messaging with the option to use "On Demand Liquidity" (ODL), an $XRP using product, if desired. Bilateral agreements are no longer necessary between users.
2/3
So if you see someone uses "Ripple" or "Ripplenet",
-they likely only use it for messaging, not #XRP
-if "ODL" is specified, then value is moved using XRP on the #XRPL
-Many ODL users start with RippleNet only.
3/3
 ripple.com/insights/on-de…
Read 4 tweets
WrathofKahneman Profile picture
Dec 9, 2022
A weekend 🧵
Because we're not all programmers, perhaps this will be a useful guide to fight through XRP disinformation about secret XRP, buybacks and ledgers, using the most powerful tool available...

WARNING: TEDIOUS RAMBLING AHEAD
1/16
2) The most powerful FUD-fighting, #XRP-boosting, conspiracy clearing tool on the web?

>>github.com/XRPLF/rippled
The XRPL is opensource.
Let that sink in :)

And it's not Ripple's, despite their influence. This in many ways, answers questions that routinely circulate about XRP
3) For instance, knowing it's open source, why in the world would a gov try to buy back XRP, when they could DIY? For less? And regulate it? And it would be more liquid? This idea makes no sense at all for a free network.
Read 19 tweets
WrathofKahneman Profile picture
Dec 7, 2022
🔎More ODL ?
- Nov 16: @Ripple announced a new ODL partnership with MFS Africa. Mobile money was highlighted.
- Dec 2: Longtime ODL partner TransferGo launched service to Ghana, Senegal, Uganda, Kenya, & Benin Republic, 6 countries MFS operates in.
pulse.com.gh/business/local…
ODL is not mentioned in the TransferGo P/R, only the proximity to the MFS Africa announcement suggests it. Article also highlights how users are able to avoid currency fluctuations, which has been a Ripple talking point.
ref.
ripple.com/customer-case-…
ripple.com/insights/trans…
ripple.com/ripple-press/r…
Read 4 tweets

Did Thread Reader help you today?

Support us! We are indie developers!

This site is made by just two indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3/month or $30/year) and get exclusive features!

Become Premium

Don't want to be a Premium member but still want to support us?

Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal

Or Donate anonymously using crypto!

Ethereum

0xfe58350B80634f60Fa6Dc149a72b4DFbc17D341E copy

Bitcoin

3ATGMxNzCUFzxpMCHL5sWSt4DVtS8UqXpi copy

Thank you for your support!

Follow Us on Twitter!

Send Email!

:(