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Panos 🔼{X} Profile picture
@panosmek
Jun 11, 2023 • 9 tweets • 2 min read • Read on X
It's sad that a big part of the #XRPCommunity still believes that XRP was created for banks or to help institutions. It was literally created to destroy the banks' monopoly and disintermediate them.

XRP was created as a better BTC for P2P transactions. For people, not banks. 1/7
And with features like the DEX, Ripple's initial vision was to "enable people to break free of the “walled gardens” of financial networks like credit cards, banks, PayPal and other institutions that restrict access with fees, charges for currency exchanges and processing delays."
This is what Ripple mentioned on their website in 2013. Ripple (Initially OpenCoin) started with a vision to build an open payments system & P2P credit network for people - not banks - on top of XRPL and by utilizing its DEX and other features.
spectrum.ieee.org/ripple-credit-…
Even though Ripple later decided to focus on the banking system and cross-border payments, they didn't do that to help banks and financial institutions, they did it to create a level playing field for the small banks and destroy the SWIFT cartel owned by the big ones.
Either way, Ripple's business model doesn't matter much as it's just one project out of the hundrends using XRP and building on XRPL, but some members of the XRP community should know what they hold and stick to the facts instead of believing false narratives.
And these false narratives were created by Bitcoin maxis at first and have continued by "XRP influencers" and youtubers who promote this for their own interests, spreading misinformation and delusional theories around XRP.
$XRP is for everyone - especially the people who are sick of banks and centralized entities that charge a lot of fees, have big delays and can censor you. This is the reason XRP Ledger was built. To free the people from such institutions and give the power back to individuals.
The whole point of the thread is that XRP is for everyone, it's an open, decentralized system with many features and anyone can use it, people, businesses, banks for whatever they want. Why is it so difficult for some people to understand?
The legend and XRPL co-creator has spoken. End of discussion for people who still disagree.

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More from @panosmek

Panos 🔼{X} Profile picture
Nov 27, 2023
The Path to Crypto Mass Adoption: 🧵1/10

Yes, regulations and education are necessary, BUT 2 fundamental shifts pave the way for widespread blockchain and crypto adoption:

1. User-centric approach

2. Seamless integration

👇 Image
1. User-centric approach: Shifting the focus from investment-centric thinking to user-centric adoption is vital. Just as people utilize the internet or apps without considering the underlying technology, blockchain adoption should similarly center on enhancing user experiences...
and solving real-world problems without the need for users to delve deeply into the technicalities or investment potential.

We must embrase a user mentality.
Read 11 tweets
Panos 🔼{X} Profile picture
Sep 17, 2023
It's Sunday. Almost all markets, banks and services around the world are closed. In today's interconnected world, this is a big problem for both individuals & businesses, and also offers banks an opportunity to manipulate markets. Here is how blockchain solves this. [1/16]🧵
Traditionally, financial institutions operate on a five-day workweek, typically from Monday to Friday. This leaves a two-day gap over the weekend when these institutions are closed, making it impossible to conduct many financial transactions during this period.
This practice, while rooted in history, has become a considerable hindrance in today's fast-paced and globalized world. And it's not only during weekends, but also during nights and certain time periods every day.
Read 16 tweets
Panos 🔼{X} Profile picture
Sep 5, 2023
Where does a native coin's value come from? 🧵1/15

What exactly is the business model of a blockchain network? Why should the cryptocurrencies and tokens that are an indispensable part of them be worth anything? What is the exact role of a coin and how do they capture value? Image
By definition, a blockchain that is designed correctly cannot benefit from any kind of cornered resource due to its open and permissionless nature. The very notion that a blockchain is decentralized means that there exists no small group of people that has unilateral control...
or outsized power over it; everyone plays on the same level playing field.

So how can a blockchain capture value then? The Token Network Flywheel is the answer…
Read 15 tweets
Panos 🔼{X} Profile picture
Aug 31, 2023
Another day, another thread about the #XRPL AMM - #XLS30!

Today, we are going to talk about the role of AMMs in the multi-trillion dollar FX market and how you can make money on XRPL as a FX liquidity provider with minimal risk without using your XRP 🧵1/14 Image
Currencies are the tectonic plates of the financial system, rooted at the base of every trade and transaction. The foreign exchange (FX) market is the largest & most liquid in the world, with daily trading volumes of $7+ Trillion. Image
In TradFi, the correspondent banking model of FX settlements makes transactions harder and more expensive for users. Settlement risk is a big concern and based on @BIS_org's Triennial Survey in 2022, around 1/3 of deliverable FX turnover, around $2.2 trillion, is at risk daily.
Read 15 tweets
Panos 🔼{X} Profile picture
Aug 30, 2023
Today, we are going to talk about the importance of on-chain liquidity and why everyone should participate in the upcoming #XRPL AMM - #XLS30! 🧵1/22 Image
Liquidity is one of the most important aspects of every market & asset. It is what mainly affects asset prices. In simple words, liquidity is the ability to buy or sell assets in the market without causing a drastic change in the assets’ price.
Liquidity pools are the backbone of many decentralized exchanges, specifically AMMs. A liquidity pool is a collection of funds locked usually in a smart contract and used to facilitate decentralized trading, lending and more.
Read 24 tweets
Panos 🔼{X} Profile picture
Aug 26, 2023
$XRP is one of the biggest threats to the big banks. 🧵1/15

Blockchain technology, crypto, and especially $XRP, are destroying the banks' monopoly and disintermediating them in many ways, but in this thread we will talk specifically about global payments.
In a time when the global economy is more connected than ever, it's shocking that there isn't a complete payments network that allows seamless and efficient transfer of money around the world. The need for connection, accessibility and interoperability has never been greater.
Every day, people and businesses rely on payments to conduct transactions in an increasingly digital world. But the current financial system is outdated and inefficient, with no interoperability between different networks.
Read 15 tweets

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