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RE: Debate Time #1 - AKA The Knowledge Bank
I think what ripple offers is speed of transfers especially for offshore transactions, sure each bank could create their own protocol to do the same but what then happens for transactions between different banks. If Ripple is overpriced at the moment is a debate for another day but they have surprised a lot of people coming this far.
Why use a centralized Ripple while you can use a DPoS chain like STEEM with zero transaction fees and utterly high throughput-transactions?
'Enterprise clients' which ripple seems to be focusing on have a tendency of picking more complicated solutions, Banks specifically have a kind of herd mentality when it comes to technology. Steem no doubt offers a better solution but they are just too blind to see it
Ah, and I think one issue with banks using STEEM is that it doesn't have confidential or private transactions which banks will want, but does Ripple offer confidential/private TX's?
I doubt ripple offers that and to be fair confidential transactions would make it a hot bed for money laundering which might lead to heavy regulation.