Ripple vs Swift and Nostros/Vostros

Things have been slow at work so did a little research, and apparently there's a bit of a battle going on between Swift and Ripple the start up software company.

If you aren't familiar with what Swift and Ripple do here are two good resources;

http://www.investopedia.com/articles/personal-fin… https://www.americanbanker.com/news/inside-ripple…

Both Swift and Ripple are working on projects to integrate blockchain tech into correspondent banking. But, I think ripple is wayyy more innovative. Like, there will always be mistakes, even in smart contracts and settlements made via blockchain. Ripple is leveraging XRP to be something like reserve currency...XRP takes alot of heat for being so low in value compared to ether and bitcoin. But, most people don't realize XRP is meant to be a stable value currency so it can actually be used irl one day. Sorry libertarians....

For instance, bank in Singapore wants to exchange SGD for MYR...but it's impractical to make a market directly. Instead, bank in Singapore buys XRP with SGD, turns around and sells XRP for MYR, all within 3 seconds. This would be impossible today, settlement takes 3 days, so banks hold foreign currency in accounts overseas to compensate for the lack of liquidity. Alternatively, if XRP is more stable than their countries currency they may hold XRP itself and send XRP to pay counterparty who would likely accept it if they knew it was stable enough to remain at it's price for the next 5 minutes or so.

This is a really big deal because no matter how hard swift tries they can't compete if XRP takes over the market in southeast Asia, where it has already proven itself as an attractive idea. Plenty of reputable orgs are working with ripple, and many more with swift. But swift cannot compete if it doesn't embrace crypto. Fiat currency isn't set up to be tracked by the coin the way crypto is. If you really think about it, a shift from USD as reserve currency to XRP... even in one area of the world... could have a dramatic effect on market liquidity. In other words, it would be really great for everyone but the United States government (and arguably Swift)

Just my opinion, I think Ripple or a similar product/crypto pairing will eventually render Nostro/Vostro accounts obsolete by creating more efficient markets. Maybe we even see a Fiat crypto...idk...am I insane?

TL:DR, Swift is slow and sucky. Ripple/ XRP will blow Jamie Dimon's mind.