European Central bank big bang migration


somehow nobody talks about " The T2-T2S consolidation " project, source: The T2-T2S consolidation project moves forward at full speed"

I know that this project for postponed until 2022 years, I think this migration will affect crypto industry drasticaly. Maybe somebody knows more about ?


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Hey mate, welcome!
Maybe because we don’t understand why it’s so important :slight_smile:
What are the implications here - Banks upgrading their protocols? Central banks moving closer to digital currencies?

Why big bang?

yes, they want to change cross broder payments.
Here is official document, but they just extended the road map till 2022 novemberOverall_key_milestones_to_ensure_a_successful_big-bang_migration_in_November_2021.pdf (99.2 KB)

it will have huge impact in europe

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in my personal opinion XRP will get trillions in market cap, not few trilliosn but 10s of trillions :slight_smile: but cardano will play the role too.

This is a major event for the world. For the first time EVER all financial institution, banks and fintech will be able to adopt a single data standard; ISO20022. In plain English every financial sytem in the world will be able to comuunicate. Add in cryptos that have also adopted this standard: XRP, XDC and Algorand. Maybe ETH, XLM, IoTA, IoTX soon? These companies have built layer 1 of the new digital financial system.
These companies will interoperate and you will be able to move assets across platforms. Remember how Ripple said they will move “ALL THE MONEY”?
Everyone thinks its just crossboarder payment. That is only the beginning. NFT’s are not just for art and music, it is how they will digitize stocks, bonds, notes, derivatives, real estate, and commodities. Everything digitized and connected. Layered in. This is where these tokens will get their value througfh utility. Liquidity. The US will be the last country to have a single currency as the global reserve. Sorry dollar. A digital sytem backed by precious metals.

Big Bang Migration for Europe and later the US Fed.

Ripplenet will connect all finacial institution who integrate and offer messaging AND settlement together.

Interledger Protocol was gifted by Ripple to the [W3C (WWW Consortium) Money will move seemlessly across the internet.

Elon Musk’s Starlink Satellites will host blockchain nodes in space and pump internet world wide.

5G will enable total global coverage thru your phone and will be your bank.

Like the Universe it will start with a “Big Bang”. (Maybe a massive cyber attack to get things moving)

Dont you see ada in this context?

I dont think XRP only one will be in the world for these payments and they will not give the edge for the xrp owners, they will mix it or will create own blockchain

I do see Cardano in payments but they are building cosumer facing not in the same content as Ripple and XRP. Next, Cardano is still finishing its first layer. It still need to build, test and implement its smart contract layer.

Cardano’s future contribution in the payment space will compete with other smart contract projects like Ethereum or Flare Networks.

The payment and finance space is huge and many are confused thinking that all projects will all do the same thing.

Ripple along with Stellar, Xin-Fin, and Algorand are building “The financial foundation” that will enable these other projects to fufill their full potential. These are ISO 20022 compliant. The only compliance that will allow them to communicate with Central Banks and other financial providers. They will host, transfer value between CBDC’s, and bring the banks de-fi services.
This layer is where commodioties, stocks, bonds and derivatives will be tokenized.

Building a blockchain is only the beginning. It is the protocols that seperate what they can and will do. Think of vehicles as an analogy. They all provide transportation but some are built for speed, some for luxury and comfort, some for rough terrain, some for emergency, some fly, some float. Each to it’s own purpose. Understand for crypto now. Not one crypto project winner… many, each for it’s owm purpose. ADA and XRP are apples and oranges. They will not serve the same exact purpose.

You may not understand for a while but what Ripple has built is huge and it is the ONLY project that will connect everything. It will enable blockchains that are not compatable to flow by allowing assets to move from one to another.

Don’t buy a token based on if it will be “a winner” and thus go up in price to sell for a profit. Take some profits if you must but a few of these tokens you will be able to stake and loan in the new GLOBAL FINANCIAL SYSTEM. You will be a bank and provide liquidity. The very concept of money will change. Most will only see the apps, enjoy speed, pay and bank on the phone. YOU have the unique opportunity because you know this is 'the back end" Don’t fall for the false crypto narratives. BTC is a trap. Now go find out for yourself.

how do you imagine it will happens? I try to understand how price will react when rumors apears in mass media :slight_smile:
It will not be overnight, to implement all this will take few years at least, before that we will face hyper inflation I think