A Quote by Jeremy Allaire
The idea of cross-border payments is going to completely go away... Our vision is for there to be no distinction between international and domestic payments.
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Bitcoin is inherently international, and one of its great promises is it enables cross-border payments in a more efficient way.
Low-value payments are now possible. Now, Ripple can make it easy for Facebook and Uber and Amazon to make payments to developers in real time. It's online and completely global.
This product that was on TV was available for four easy payments of $19.95. I would like a product that was available for three easy payments and one complicated payment. We can't tell you which payment it is, but one of these payments is going to be hard. The mailman will get shot, the envelope will not seal, the stamp will be in the wrong denomination. The final payment must be made in wampum.
We don't think there is any money to be made in payments anymore. The entire business model of extracting a toll or having time delays around the movement of value is going away completely.
If you look at payments to labor as a proportion of national income or gross domestic product, you find profits going way up, investment and savings going up.
Fraudulent and improper payments have long bedeviled Medicare, a $466 billion program. In particular, payments for durable medical equipment, like power wheelchairs and diabetic test kits, are ripe for fraud.
XRP is a digital asset that exists on the XRP ledger, one of the open-source products created by Ripple. XRP is a pivotal component of the Internet of Value, since it solves a key point of friction: the pre-funding of nostro/vostro accounts necessary to facilitate cross border payments.
There's a transparency revolution sweeping the world. The more you can have transparency of payments, the more you'll be able to follow the money and the more you'll be able to see that payments for mineral rights in poor countries actually go to the people who need it, and don't get put into a kleptocrat's pocket. Transparency is terribly important for us.
The focus around Circle China is really cross-border payments. If I'm a parent in China and my son is studying at London Business School, I might want to send 500 RMB. I should be able to do that and have my child instantly receive it as pounds sterling, in the same way people do that with instant messages today.
For many women, the on-time payments of domestic support obligations are essential to economic survival.
Our idea with starting Stripe was to build better payments technology for people building things on the web.
As I've long said, the farm bill is in need of major reform. At first chance, I voted to remove direct payments. Both the House and the Senate passed bills that end direct payments, and as we move forward, I hope we can work out the rest of the issues to implement the necessary reforms.
You could imagine something like a completely automated system for renting bikes that's just done completely over blockchain crypto-payments. And theoretically just sort of start it up, and it works completely autonomously.
[I'm planning]for starters, build a permanent border wall between the US and Mexico that Mexico "must pay for". The plan proposes various sticks to force Mexico to cooperate, such as impounding all remittance payments to Mexico from illegal wages earned in the US.
While digital wallets are paving the way for the future of payments, you still need to assess whether or not they'll work for your business. If your target audience are less tech-savvy or you're primarily a cash-only business, it may not be worth investing too much into accepting digital payments.
The short-term international capital market is shrunken and erratic, and cannot be relied upon to cushion the effects of tendencies to disequilibrium in the balance of payments.
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