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Introduction

1.  Rippling Payment Basics

Tech Training Deck

Ledger Graph Notation

• • • Entities
    • Accounts
    • Orders
    • Payments

Rippling Payments

• • • XRP Ledger
      • Privacy
      • Scalability
      • Compliance

Messaging

• • • Off Ledger Addressing
    • Compliance

• ILP
• Privacy
• Scalability

• Instant Settlement Pattern
  • Synchronized (Atomic) Accounting
  • Avoiding Risk
  • Inclusion    

Hands-On

• • Setting up a testnet address/secret pair
  • Definining a testnet name/address pair
  • Creating a fiat currency account
  • Receiving fiat
  • Sending fiat to others
  • Creating a second fiat currency account
  • Circular payments to convert one fiat currency to another
  • Market Orders
    • Viewing the current market
    • Creating your own order
  • Understanding Lowest-Cost Pathfinding

 Foundational

•  The Shape of Money (Systems)
      Money Itself = Liquidity
      Definition (see the IMF doc on cryptocurrency)
          Medium of Exchange
          Unit of Account
              Debt Repayment
              Contracts for Future Payments
          Store of Value

    Ledger Graphs
        Federal Reserve Notes
        Banking         facilitating payments
        Local Money        Ideological money
        Gateways        Local Money on XRP Ledger
        LETS            Liquidity without Money
        Cryptocurrency     Money without promises

    Multiplying the Utility of the Existing Money
        Increasing its Velocity
            Local Banking
                circulates money faster in a community, allowing the same money to pay more bills.
            Local Money 
                circulates money faster in a community, before that money leaves to pay remote bills.
        Lending – increases the velocity of money
            Local Banks
                Increases the velocity of the “horded” money.
                Increases the value of the “hoarded” money by allowing it to find work.
                Keeps the “horded” money in the local community, so it doesn’t have to leave to find work.

        Increasing Liquidity without Increasing Money-Tokens 
            Bank Lending    ->    Creates liquidity without creating tokens
            Personal Lending->    Creates liquidity without creating tokens
            LETS            ->    Creates liquidity without creating tokens
            Social Credit    ->    Creates liquidity without creating tokens
            “Good ol’ Boy networks”        ->    Creates liquidity without creating tokens
            Cryptocurrency
                Crypto Investors        ->    Creates liquidity without creating tokens
                Crypto Lending (WTF?)    ->    Creates liquidity without creating tokens

    Fractional Reserve Banking
        Zero Reserve Banking
        Safe Deposit Boxes

    Collateralized Lending
       https://www.thebalance.com/collateral-loans-315195
        Hypothecation
       https://ir.lawnet.fordham.edu/cgi/viewcontent.cgi?article=1391&context=jcfl
       https://heinonline.org/HOL/LandingPage?handle=hein.journals/umkc84&div=48&id=&page=&t=1556480751

•  Blockchain Technology
      Accounting
          Journal vs Ledger
          Double Entry Bookkeeping
          Unspent Transaction Outputs (UTXO)
          XRP Ledger
          Ethereum
      Technology
          Paranoia as a feature
          Addresses, Secrets, Public & Private Keys
          Hashing
          Merkle Tree Proofs
      Consensus
          Mining
              1, 2, 3
          Proof of…
          Consensus
      Scalability
          ILP
          Codius

•  How Prices Move
      Markets
          Makers vs Takers
          WANT vs NEED
          Market Makers
          Arbitragers
          Speculators
      Payment Size vs
          Risk
          Liquidity (capital requirements)
          Profit
      Stability is balanced flows
      Imbalanced flows require liquidity circles
          Alternative paths
          Market Maker re-balancing
          Arbitrage

 Intermediate

•  Cryptocurrency Ideology
      Coins vs Bank Accounts
          Virtual Physical Currency
          Account opening direction
          Who can hold coins/accounts
          Funds freezing
          Privacy
      Code Words
          Anonymity vs Pseudonymity
          Censorship Free
          Doublespend
          Immutable
          Traceability – Link-ability
      Monero
          Secure, Private, Untraceable, Fungible
          Ring Signatures
      Zcash
          Private Addresses
          Transparent Addresses
          Zero Knowledge Proofs

•   Money Flows (Cross Currency)
      Pre-Transaction Negotiation Flows
      4 Tiers from previous deck
         Bank Transfers
          Card Networks – Payments
          Money Services Businesses
              Remittance
              Remittance – Bill Pay
          Hawala
              Fincen PDF
          Person to Person Payments
              Paypal – MSB
              Venmo – MSB
              Cryptocurrency – ???
              Rippling Payments
          Xpring / Coil

•  Advanced Configuration Shapes
      Pre-Transaction Negotiation Flows
      “Stable Coins”
          Backed
          Unbacked
      JPM Coin – Dollar clearing use case
      Fed Coin – “A payment” use case
          Effect on bank deposits
          Effect on liquidity
      Stellar/IBM configuration
      Dis-intermediating the Dollar (De-risking)

 Advanced

•  Anyone to Anyone
      Expanding the network
      Joining together different tiers (network effect)
      How Nostro accounts work
      XRP Bridge
      Driving payments through XRP
      Patent
      Community Size vs Value