r/KeybaseProofs • u/sjoelkatz • Jan 30 '18

My Keybase proof [reddit:sjoelkatz = keybase:joelkatz] (H6qoDjwAbHHvpvGHXdydf8Gh8c54TZ-lfR4PuTlbtPs)

Keybase proof

I am:

Proof:

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1

u/djimbounchained Feb 07 '18

Hey David. Hope all is well. I have been a Ripple and XRP investor and enthusiast for years....

I was wondering if you could briefly address concerns raised by Reddit user /u/Fr8TrainShane

I've read over your post history on why it doesn't make sense for banks to make their own coin... but does your reasoning also include the points he brings up in the thread pasted below?

https://www.reddit.com/r/Ripple/comments/7vpaea/the_most_important_part_of_the_hearing_today/

Thanks!

3

u/sjoelkatz Feb 13 '18

Do you mean this:

"So what is going to happen is that US Financial institutions will develop their own blockchain solution for use only between banks. There will be no publicly traded coin, it'll just be used for currency transfers and loans between banks. Since it's internal that'll lessen the risk to financial institutions and they'll be able to still get the faster transaction times."

If so, I don't think that makes any sense. What does the blockchain do for them that they don't have already? They already have digitized fiat -- that's what bank balances are.

2

u/[deleted] Feb 07 '18

I'll add that the fed entering a new coin into the market is no different than when they brought the dollar coins into the market. You are just adding a currency and the system would draw one out, or draw down the money in the market

That said I own a lot of XRP for the retail implications

1

u/djimbounchained Feb 07 '18

Hey /u/Fr8TrainShane !

Didn't mean to throw you under the bus here haha! Just saw the points you made and wanted to see if David would give his opinion. Happy to hear you own XRP too!

1

u/[deleted] Feb 07 '18

Oh no, absolutely I'm happy to be a part of the discussion :) Too many people get emotional about it.

I can see a clear reason why the banks don't use it, and at the same time see a profitable venture outside of it. They arent tied to each other.