The Ledger
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Thomas: Ripple raised $94M in VC funding and sells XRP
“So we raised ninety four million dollars through sort of VC funding. And then we also sell some of the digital asset XRP.”
Thomas: Many Crypto Coins May Just Be Ways to Raise 'Dumb Money'
“I think with a lot of these coins that we're seeing, you know, that question is a little bit dubious, and so I think you really have to look at each individual instance and really understand, you know, why are they using the technology, and how is it benefitin…”
Thomas: Ledger interoperability does not alter individual ledger compliance enforcement
“Interoperability is, is, you know, doesn't affect how your compliance works, right? So the fact that you can interact with other ledgers doesn't change how your particular ledger enforces compliance.”
Thomas: SCB and SBI Remit use Ripple to cut remittance costs by 90%
“So they are licensing our technology, and then another company called SBI Remit in Japan is also licensing our technology. So they've come together and they've created a partnership where people in Japan, there's about 45,000 Thai people that are living in Jap…”
Thomas: Monolithic public blockchains cannot efficiently serve diverse use cases
“When you have these sort of huge public shared ledgers it's very difficult to make changes, and also it's very difficult to serve the huge diversity of use cases between different users.”
Thomas: Pursuing 100+ Blockchain Use Cases Destroys Network Effects
“If you have a 144 use cases, you might as well have zero. It's very difficult to actually achieve any traction in any of them create any network effects and so on.”
Thomas: The core challenge in fintech is interoperability across blockchains and central ledgers
“We think the real challenge and the real interesting technology is going to be in the interoperability between all these systems. And again, not just blockchain, but also central ledgers, because sometimes that's the best solution.”
Thomas: Corporate Cross-Border Payments Suffer 6% to 10% Failure Rates
“Today, when you, let's say you're corporate, right, so let's say you're, you know, Samsung, and you're trying to make a payment you know, you will have failure rates on the order of, you know, six to 10%, just from, you know, wrong details for the recipient, s…”