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RIPPLE - XRP - GOLD
Andrew Kelly
Henry Wood
Justin Green
Half of biz now on suicide watch
Jack Ross
You have two different agents. One wants a loan, the other is the one who wants dividends on what he loans. We will call them loanee and loaner.
The Loanee stakes XRP + loan fee as collateral to the flare network, and the loaner stakes his spark as collateral. This creates FXRP, which is loaned to the loanee. This way if either party backs out, the other party doesn't lose anything. The FXRP can then be used in smart contracts. The benefits are that the loanee gets liquidity and the loaner gets dividends from the loan fee.
That's the base system for the creation of FXRP. It's going to be used for foreign exchange, mortgages, loans, options, etc.
Its also going to be completely interoperable with all digital assets, and you will be able to code in any language for the smart contracts.
and its going to have all the benefits of XRP since its a utility fork, namely the 4 second transaction times, microcent transaction fees, and scalability.
And its not proof of work or proof of stake since its a turing-complete federated byzantine agreement network.
Jose Gomez
My friend, I have xrp. I will not sell, for I do not subscribe to meme dates. We're going to make it my friend. But also I don't understand the OP image and would like to learn
Anthony Robinson
I don't really get it either, but it seems to relate to the idea that XRP will be backed by gold.
Juan Flores
can someone explain ?
Jordan Stewart
John Miller
It means BPG has been audited and they have 4424.80 grams of gold that can be traded on the ledger. Most people don't know this but XRP has had a DEX since its inception and the end goal is to tokenize all assets. Gold is really just one step and a notable one since people are monkey-brained
Liam Robinson
So are you saying right now I can trade 99 XRP for 4k Oz of gold? Or am I interpreting that wrong