Ripple (XRPUSD)

[KC01905]

It’s been a WHILE since I’ve made any contributions of substance to the page so I made sure to get the tea. So here goes.

So Sunday I am returning home from 2 days of camping and I see my neighbor pull up. He’s taking tables out of his car and I immediately say “Please God … not a marathon party.” Turns out he was doing an event for a small fintech he’s been working at the last two years. OV Loop. Took me by surprise as I’ve always known him as a marine tech. This was a new gig and mentioned it may be something I’d be interested in.

So he mentioned the restaurant may even be interested using them as a POS. I told him we’ve invested a lot of time and energy into Toast and integrated it heavily with Restaurant 365 for invoicing / inventory / blah blah blah. But would listen to the pitch.

Basically … they run super cheap. But he did mention they can do VIP programs etc etc etc. (some things we would be very interested in) so he pulls out his phone and shows me the wallet they created and all of the cool things it can do from the customer side (as in the restaurant). And it’s cool as hell. But I explain I don’t make those decisions but would see if I could put him in touch with the right people.

But then he switched gears and focused on the wallet itself. It does have an e CC with a cvv code that changes every time you use it (virtually impossible to duplicate). Has a fob for your keys which can be used for 3 transactions without the phone nearby. Can be used to swipe or tap and pay (which by the way is ONE of the things this company created. Tap and pay). The fob can locate your phone … your phone can locate the fob with gps … and if you lose the fob you can disable it from your phone. All wild.

So I notice some of the customers on the wallet. Lulu lemon and Jaho coffee. You know Jaho he asked? I’m like sure they have that amazing coffee shop in Salem, MA and like two others in the Boston area. Jokes on me … turns out they are huge … in Japan … and are a major client of theirs.

THEN he tells me the most interesting thing. “If you have a wallet and I have a wallet … we can make peer to peer payments.” And I said “Cool … like Venmo or PayPal,”. And he said kind of … but these payments “settle in real time.” There’s no waiting period and it’s not messaging / IP based. So I said “That’s wild. I know you aren’t doing that with BTC or ETH. There’s only one token created for real time settlements.” He froze. Like immediately. He said OH so you know crypto. Well this wallet definitely does have a demographic … and even if the restaurant doesn’t want to use us as a POS you would love it. One cool feature of the wallet is it has an encrypted folder that only you know and can be used to store all of your passwords. So you don’t need tons of little seed phrases in a fire safe box (I had been seen). He went on to say you can store all of your phrases here and only have to remember one for the folder and blah blah blah. But he had already told me the good part.

Peer to peer real time settlements. One of their biggest clients are a major player in Japan (makes sense). We both joked about how far behind the US is falling. But super low transaction fees. What would make all of this possible. I have to talk to him again soon and will let you know what I hear. But I think we all heard the same thing.