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SWIFT is building a blockchain ledger with ConsenSys and 30 banks, choosing Ethereum over XRP. This challenges the narrative that SWIFT will adopt Ripple's token, though the speaker remains bullish and won't sell his XRP.
SWIFT is building a blockchain ledger with ConsenSys and 30 banks, choosing Ethereum over XRP. This challenges the narrative that SWIFT will adopt Ripple's token, though the speaker remains bullish and won't sell his XRP.
Breaking news for XRP holders. You all need to hear this. This is bad news for XRP holders, and I don't say that lightly. You guys know I'm very bullish, but this is bad news right here. Swift has put out a new blockchain article, and they're adding blockchain-based ledgers to its infrastructure stack with a group of 30 financial institutions globally, except that they're using and working with ConsenSys. Developing a shared digital ledger with focus on real-time 24/7 cross-border payments with ConsenSys. Who is ConsenSys? The Ethereum company, which is founded by one of the founders of Ethereum, and ConsenSys focuses on Ethereum. Why is this bad news for XRP holders? Well, we all know the major narrative that XRP holders spread is that either XRP is going to replace SWIFT, or number 2, that SWIFT is actually going to adopt Ripple and adopt XRP and use that in their tech stack. And today is the day that we get confirmation that they're actually just going with ConsenSys. And so everything is based off the Ethereum infrastructure. Now, this sounds dumb, like, why would they use like Ethereum where you can pay like $20 per fee and everything like that? Why would they use it? It's so slow compared to XRP. There's a new tech being built inside of Ethereum, like Layer 2s and atomic swaps that make it faster. They say they're building on earlier pilots, so maybe they did experiment with Ripple, Chainlink, any other protocols, but they've landed on working with ConsenSys on a conceptual prototype. I am not going to dump my XRP because of this, not in the slightest. Ripple will continue to build as they have been, and XRP will continue to build as they have been, and I will continue to hold as I have been.
